Market Trends of Multiple Sclerosis Therapeutics Industry
The Oral Route of Administration Segment is Expected to Witness Rapid Growth During the Forecast Period
The oral route of administration segment is expected to witness significant growth during the forecast period owing to advantages like patient satisfaction and increased therapeutic compliance with the oral route compared to other routes. Further, a rise in product launches and approvals for drugs targeting MS in tablets or capsules will likely fuel market growth. For instance, in June 2022, Amneal Pharmaceuticals Inc. launched LYVISPAH, a United States FDA-approved granules (5, 10, and 20 mg) for managing spasticity related to multiple sclerosis (MS) and other spinal cord disorders. This launch helped the company to bolster its neurological disorders therapies in the US market.
Similarly, in June 2022, Sandoz expanded its portfolio by launching the generic drug Dimethyl fumarate HEXAL, approved for treating adults with relapsing-remitting multiple sclerosis (RRMS) in Germany. Dimethyl fumarate HEXAL enteric-coated hard capsules are a cost-effective alternative to the reference medicine Tecfidera in treating adult patients with multiple sclerosis. Thus, the rising product approvals and introduction of novel oral therapeutics for managing multiple sclerosis are pushing segment expansion.
Also, increasing pipeline studies and developments in multiple sclerosis will likely contribute to market growth. For instance, in October 2023, Bristol Myers Squibb presented data on Zeposia (ozanimod), focusing on its impact on the long-term disease progression and cognition of patients with relapsing forms of multiple sclerosis. Notably, 76% of patients who were administered Zeposia for relapsing multiple sclerosis (RMS) showed no signs of confirmed disability progression (CDP) over six months. Such positive outcomes in clinical trials and expected launches in the next 2-3 years are projected to contribute to segment expansion.
Due to the rise in product launches, approvals, and other strategic activities by key players, along with an increase in clinical studies in the field of multiple sclerosis (MS), this segment is expected to drive demand in the market during the forecast period.
North America is Expected to Hold a Significant Share During the Forecast Period
The market for multiple sclerosis therapeutics is expected to show healthy growth in North America, which is majorly attributed to the rising prevalence of multiple sclerosis and critical players focusing on the multiple sclerosis (MS) pipeline. Also, increased research funding and activities for treating MS are expected to bolster market growth. For instance, in November 2023, the National Multiple Sclerosis Society invested USD 4.4 million in new research projects, aligning with their strategy to guide global MS research toward promising areas outlined in the Pathways to Cures roadmap. This commitment is part of an annual investment exceeding USD 30 million in over 200 MS research studies globally.
Additionally, the presence of the key market player, the rise in product launches, and the approval by the regulatory authorities are propelling the market's growth. For instance, in December 2022, TG Therapeutics received the US FDA approval for BRIUMVI (ublituximab-xiiy) to treat relapsing forms of multiple sclerosis (MS). It is given in a one-hour infusion after the initial four-hour dose. It is one of the first anti-CD20 monoclonal antibodies approved in the United States for relapsing MS patients.
Moreover, the regional market is growing due to increased collaboration between pharmaceutical companies and governments to expand access to multiple sclerosis treatments. In April 2022, Novartis Pharmaceuticals Canada Inc. announced that Kesimpta (ofatumumab) is covered under Ontario's Exceptional Access Program (EAP) and included on the R茅gie de l'assurance maladie du Qu茅bec (RAMQ) list of medications as an exceptional medication for treating adults with relapsing-remitting multiple sclerosis (RRMS) with active disease features. This development enhances access to effective treatment for eligible patients in Quebec and Ontario.
Thus, the key players' increased product launches, approvals, and other strategic activities, coupled with the increase in the prevalence of MS in North America, are expected to bolster the demand in the market during the forecast period.
