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Multiple Sclerosis Therapeutics Market Report
Multiple Sclerosis Therapeutics Market, By Drug Type (Immunomodulators, Immunosuppressant, Copaxone, Avonex, Gilenya, Other), Mode of Administration (Oral, Injectable, Intravenous), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, e-Commerce), and Region -...
Impact of COVID-19 on Multiple Sclerosis Therapeutics Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Multiple Sclerosis Therapeutics Market is projected to grow from USD 25.7 billion in 2020 to USD 37.3 billion by 2026 at a CAGR of around 6.5% during the forecast period.
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Multiple sclerosis (MS) is defined as an autoimmune disease that affects the central nervous system. The immune system attacks the nerves, which causes communication problems between the brain and rest of the body. The different types of drugs used to treat multiple sclerosis include immunomodulators, immunosuppressant, copaxone, avonex, gilenya and other.
Key players operating in the Multiple Sclerosis Therapeutics market are-
The growth of the multiple sclerosis therapeutics markets is primarily driven by the rising number of people suffering from relapsing-remitting and secondary progressive multiple sclerosis. The increasing prevalence of chronic diseases due to changing lifestyle and stress are likely to drive the market growth at a significant rate during the review period. In addition to this, the rising demand for novel drug development to treat multiple sclerosis is expected to create lucrative opportunities for the players operating in the market in the coming years.
By end-use, the multiple sclerosis therapeutics markets have been bifurcated into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to convenience and easy availability of required drugs at hospital pharmacies.
By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to the established presence of the healthcare industry coupled with the presence of key market players such as Sanofi Genzyme (US) and Pfizer Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from chronic diseases.
The COVID-19 outbreak adversely affected the market growth of the multiple sclerosis therapeutics industries due to the shift of medical treatment to rising coronavirus-affected patients. Patients suffering from other diseases were asked to postpone their surgery/appointment due to a rapid surge in COVID-19 cases across the globe.
Here is the list of the group of customers that the Multiple sclerosis therapeutics market hopes to have the greatest opportunity to convert-
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The Multiple Sclerosis Therapeutics Market is expected to witness an impressive growth of 6.5% CAGR in the coming years?
Novartis International AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi Gen-zyme (US), Bayer AG (Germany), Pfizer Inc. (US), Biogen Inc. (US), The Merck Group (Germany) and AbbVie (US) are among the key players in the Multiple Sclerosis Therapeutics Market.
The Multiple Sclerosis Therapeutics Market is expected to reach USD 37.3 billion in the foreseeable future.
The hospital pharmacies segment is expected to register significant growth in the Multiple Sclerosis Therapeutics Market in the coming years.
North America accounted for the largest share in the Multiple Sclerosis Therapeutics Market in 2020.
Multiple sclerosis therapeutics distributors, Multiple sclerosis therapeutics suppliers, Multiple sclerosis therapeutics manufacturers, Logistics organizations, Government bodies are among the target audience in the Multiple Sclerosis Therapeutics Market.
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