North America 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.

North America Multiple Sclerosis Therapeutics Strategic Insights

Strategic insights for the North America Multiple Sclerosis Therapeutics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Multiple Sclerosis Therapeutics Report Scope

North America Multiple Sclerosis Therapeutics Regional Insights

The geographic scope of the North America Multiple Sclerosis Therapeutics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America multiple sclerosis therapeutics market is expected to reach US$ 15,269.74 million by 2027 from US$ 9,144.98 million in 2019; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027. The growth of the market is attributed to a few key driving factors such as the increasing prevalence of multiple sclerosis and rising funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment hinders the market growth.

As per the National Multiple Sclerosis Society’s study in 2017, about 1 million adults (up to 913,925) were suffering from MS in the US. Therefore, the growing prevalence of multiple sclerosis is driving the growth of the North America multiple sclerosis therapeutics market. Due to rise in funding, 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.

North America is recording the growing number of COVID-19 cases. Patients suffering from chronic health conditions, such as neurological diseases, are reporting delays in treatment. Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic. However, amid pandemic, many companies and research institutes in the US are taking an initiative to study the neurological manifestations of COVID-19. To accelerate research into the diagnosis, prevention, and treatment of the neurological complications due to COVID-19, several initiatives have been initiated. These factors are positively influencing the North America multiple sclerosis therapeutics market to a extent.

Key Market Segments

The North America 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.

By route of administration, the North America multiple sclerosis therapeutics market 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 North America 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 North America multiple sclerosis therapeutics market are the Ministry of Health and Prevention (MoHAP), U.S Centers for Disease Control and Prevention (CDC), National MS Society and Multiple Sclerosis Association of America (MSAA).

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NORTH AMERICA 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

• US
• Canada
• Mexico

Company Profiles

• 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
• Biogen