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 “Europe Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class, Route of Administration, Distribution Channel and Country.” The Europe multiple sclerosis therapeutics market is expected to reach US$ 13,281.11 million by 2027 from US$ 8,423.83 million in 2019; it is estimated to grow with a CAGR of 6.0% from 2020 to 2027. The report highlights trends prevailing in the Europe multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances.

The Europe 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.

In recent years, various measures and efforts have been taken to create awareness and educate people regarding neurological diseases, which are facilitating patients to access suitable medications and treatments for such conditions. The Multiple Sclerosis Foundation and affiliated groups have initiated National MS Education and Awareness Month, which is observed in March since 2003 to increase awareness about the disease. The goal of this program is to promote an understanding of multiple sclerosis disease and help the patients in making educated decisions regarding its treatment. Also, the National MS Society created and launched the “MS Kills Connection > < Connection Kills MS” campaign to connect people suffering from MS, people who treat MS patients, and people who run activities to create a world free of MS. Similarly, several players operating in the multiple sclerosis therapeutics market are developing and launching new products. The strategy of geographic and manufacturing capacity expansion, along with the product launches, helps companies cater to a broad customer base. Such developments and launches of new products are emerging as a key trend in the Europe multiple sclerosis therapeutics market.

Europe is recording the growing number of COVID-19 cases. Due to the second wave of COVID-19 outbreak, many countries' governments are working toward boosting up their cell therapies, gene therapies, and regenerative medicines produced by various companies.  Increasing COVID-19 cases affect the diagnosis and treatment of diseases due to the diversification of the medical workforce and decision to focus on treating the critically ill patients. Due to the current pandemic, many universities and research institutes stopped clinical trials, as scientists are shifting their focus on controlling the COVID-19 outbreak and are working hard to better study the virus. Thus, the growing focus on COVID-19 outbreak is hindering on the market growth.

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 Europe multiple sclerosis therapeutics market.

The report segments in Europe 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

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe