Asia Pacific Multiple Sclerosis Therapeutics Market

Market Introduction

Multiple sclerosis (MS) is an autoimmune disease affecting the central nervous system. Multiple sclerosis is a widespread disabling neurological condition, mostly diagnosed in people in the age group 20–50 years.  It is a potentially debilitating disease, causing disruption in communication and coordination functions of the body.

Market Overview and Dynamics

The Asia Pacific multiple sclerosis therapeutics market is expected to reach US$ 7,130.85 million by 2027 from US$ 4,129.20 million in 2019; it is estimated to grow at a CAGR of 7.2% from 2020 to 2027. The growth of the market is attributed to a few key driving factors such as significant investments in research & development and proactive government support for multiple sclerosis therapeutics. However, the high cost of the multiple sclerosis treatment hinders the market growth. Multiple sclerosis is a widespread disabling neurological condition that is mostly diagnosed in people in the age group of 20–50 years.  The market is witnessing significant investments in clinical research and developments. Many pharmaceutical companies are focussing on developing novel therapies for the treatment of MS. Increased research have also paved the way for many research collaborations between pharmaceutical companies and research institutes. Increased research on various novel candidates has resulted in strengthening the pipeline portfolio of leading and small-scale pharmaceutical companies. The expected launch of these pipeline candidates drives the growth of the Asia Pacific multiple sclerosis treatment market. Also, the rising prevalence of the disease has forced governments of many countries to take proactive measures through guidelines and recommendations. Various awareness initiatives are also being launched by government associations to educate patients regarding MS drugs and treatments options available in the market, which boost the market growth.

Asia Pacific countries are witnessing massive challenges due to the increasing number of COVID-19 confirmed cases. The COVID-19 outbreak has severely affected the healthcare industry, considering the economic conditions in the current situation. Precautionary measures have been taken to control the spread of the novel coronavirus. However, in this measure, hospitals, clinics, diagnostic centers, and ambulatory surgery centers (ASCs) are not attending any general patient on priority. Universities across Asia Pacific are closed. Also, access to research labs is restricted, ongoing projects are postponed, fieldwork is interrupted, and travelling is prohibited. All these factors are restraining the growth of the Asia Pacific multiple sclerosis therapeutics market.

Key Market Segments

The Asia Pacific multiple sclerosis therapeutics market, by drug class, is bifurcated into immunosuppressant and immunomodulators. The immunomodulators segment held a larger share of the market in 2019, whereas the immunosuppressants segment is anticipated to register a higher CAGR in the market during the forecast period.

The Asia Pacific multiple sclerosis therapeutics market, by route of administration, is bifurcated into injectable and oral. The injectable segment held a larger share of the market in 2019, and the same segment is anticipated to register a higher CAGR in the market during the forecast period.

Based on distribution channel, the Asia Pacific multiple sclerosis therapeutics market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment held the largest share of the market in 2019, whereas the e-commerce segment is estimated to register the highest CAGR in the market during the forecast period.

Major Sources and Companies Listed

Some of the primary and secondary sources associated with this report on the Asia Pacific multiple sclerosis therapeutics market are the National Center for Biotechnology Information (NCBI), National Health Service (NHS) and Multiple Sclerosis Scientific Research Foundation (MSSRF).

Reasons to buy the report

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ASIA PACIFIC MULTIPLE SCLEROSIS THERAPEUTICS MARKET SEGMENTATION

By Drug Class

• Immunosuppressant
• Immunomodulators

By Route of Administration

• Injectable
• Oral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Company Profiles

• Merck & Co., Inc.
• Novartis AG
• Bayer AG
• Sanofi
• Bristol-Myers Squibb Company
• TEVA PHARMACEUTICAL INDUSTRIES LTD
• Takeda Pharmaceutical Company Limited
• F. HOFFMANN-LA ROCHE LTD
• Biogen

Asia Pacific Multiple Sclerosis Therapeutics Market Strategic Insights

Asia Pacific Multiple Sclerosis Therapeutics Market Segmentation Analysis

Asia Pacific Multiple Sclerosis Therapeutics Market Report Highlights

Asia Pacific Multiple Sclerosis Therapeutics Report Scope

Asia Pacific Multiple Sclerosis Therapeutics Market Country and Regional Insights