South and Central America Multiple Sclerosis Therapeutics Market is expected to reach US$ 1,514.03 million by 2027

The immunosuppressants segment by drug class is estimated to lead the market growth during the forecast period.

According to a new market research study of “South and Central America Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class, Route of Administration, Distribution Channel and Country.” The South and Central America multiple sclerosis therapeutics market is expected to reach US$ 1,514.03 million by 2027 from US$ 1,009.82 million in 2019; it is estimated to grow at a CAGR of 6.5% from 2020 to 2027. The report highlights trends prevailing in the South and Central America multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances.

The South and Central America multiple sclerosis therapeutics market, by drug class, is segmented into immunosuppressant and immunomodulators. The immunomodulators segment held the largest share of the market in 2019, whereas the immunosuppressants segment is anticipated to register the highest CAGR in the market during the forecast period.

As per the studies published by Brazilian Congress of Neurology in Brazil, in 2020, the average prevalence of the multiple sclerosis disease is 8.69/100,000 inhabitants. Therefore, the growing prevalence of multiple sclerosis drives the growth of the South and Central America multiple sclerosis therapeutics market. Due to rise in funding across Latin America, extensive research is being carried on developing novel medicines and treatments for multiple sclerosis and other ways of identifying potential causes for multiple sclerosis. Various organizations such as National Institute of Neurological Disorders and Stroke, National MS Society, and Parkinson’s Action Network are undertaking extensive efforts to create novel therapies for MS, which is driving the growth of the market.

South and Central America is recording the growing number of COVID-19 cases. Currently, the countries in this region are rapidly increasing its clinical programs to fight against the COVID-19 outbreak. However, research on the effects of novel coronavirus on multiple sclerosis may negatively influence the growth of the South and Central America multiple sclerosis therapeutics market. For instance, a research study titled, ‘Estimating the risk of COVID-19 in multiple sclerosis patients in Buenos Aires, Argentina’ was conducted at Centro de Esclerosis Múltiple Buenos Aires, Argentina. As the number of COVID-19 patients is increasing exponentially across the region, there is growing need for data showing the impact of the novel coronavirus on MS.

The growth of the market is attributed to some key driving factors such as increasing prevalence of multiple sclerosis and rise in funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment may hinder the market growth.

Merck & Co., Inc., Novartis AG, Bayer AG, Sanofi, Bristol-Myers Squibb Company, Horizon Therapeutics plc, TEVA PHARMACEUTICAL INDUSTRIES LTD, Takeda Pharmaceutical Company Limited, F. HOFFMANN-LA ROCHE LTD, and Biogen are among the leading companies operating in the South and Central America multiple sclerosis therapeutics market.

The report segments in South and Central America Multiple Sclerosis Therapeutics Market as follows:

By Drug Class

• Immunosuppressant
• Immunomodulators

By Route of Administration

• Injectable
• Oral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

By Country

• Brazil
• Argentina
• Rest of South and Central America