Europe Multiple Sclerosis Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Immunomodulators, Immunosuppressants, Interferons, and Others), By Route of Administration (Oral and Injection {Intramuscular, Subcutaneous, and Intravenous}), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Regional Forecast, 2023-2030

Europe is the second largest region in the global multiple sclerosis drugs market. It is projected to grow at a CAGR of 5.7% during the forecast period. The global market is projected to grow from USD 22.32 billion in 2022 to USD 31.90 billion by 2030.

Multiple sclerosis is an immune system disorder in which the immune system degrades the protective covering of the nerves. The damage to the nerves disrupts the communication between the brain and the body, disrupting the body's normal functioning. Treatment can be done through medication, therapy, and exercise. The increasing prevalence of the disease has been fueling the demand for multiple sclerosis drugs for effective treatment.

• For instance, as per the data published by Multiple Sclerosis International Federation in 2021, more than 1.0 million people are affected by MS in Europe.

Our report on the European market covers the following countries/regions – the U.K., Germany, France, Italy, Spain, Scandinavia, and the rest of Europe.

LATEST TRENDS

Increasing Emphasis of Market Players on Clinical Trials for Effective Drug Development to Propel Industry Growth

The increasing prevalence of multiple sclerosis has increased the demand for the development of effective multiple sclerosis drugs. Market players have increased their emphasis on clinical trials for effective drug development.

• For instance, Hoffmann-La Roche drug candidate Fenebrutinib is in Phase 3 clinical trial to study its safety and efficacy to control the disability progression in adult participants with primary Progressive Multiple Sclerosis (PPMS). The expected study completion is in 2026.

The launch of multiple sclerosis drugs in European countries is expected to fuel the European market growth in the region.

DRIVING FACTORS

Increasing Drug Approval for the Disease Treatment to Fueling the Market Growth

To fulfil the demand for effective treatment to control the progression of the disease, regulatory bodies in the region have increased their emphasis on the approval of effective drugs for the treatment.

• For instance, in January 2020, Novartis announced the approval of its product Mayzent (siponimod) by the European Commission (EC). The drug is indicated for the treatment of adult patients with Secondary Progressive Multiple Sclerosis (SPMS).

Such product approvals are expected to fuel the Europe multiple sclerosis drugs market growth over the forecast period.

RESTRAINING FACTORS

Limitation in the Diagnosis Due to Non-Distinguishable Symptoms to Limit Market Growth

Multiple sclerosis is an acquired neurological disorder of central nervous system. Various forms of multiple sclerosis have been identified by clinicians, which differ in their respective symptoms and patterns. However, no distinct symptoms of multiple sclerosis can help identify the disease from physical examination. Moreover, no specific clinical or non-clinical diagnostic test is available for diagnosing the disease, which is a key restraint for relatively fewer people diagnosed with multiple sclerosis across the globe.

Due to this, comparatively limited number of people get effective treatment for the disease, thereby limiting the market growth.

KEY INDUSTRY PLAYERS

In terms of competitive landscape, Biogen and F. Hoffman-La Roche Ltd. are the major players in the region accounting for significant Europe multiple sclerosis drugs market share. The growth of these industry players in the region is attributed to their increasing focus on its multiple sclerosis drug approvals in this market.

Other prominent players in the market include Novartis AG and Sanofi Pharma due to the strong sales of their multiple sclerosis drugs. Some of the other major players are Teva Pharmaceutical Industries Ltd., Pfizer Inc., Bristol-Myers Squibb Company, and others. These companies have been focusing on R&D for effective drug development to fuel its growth in the European market.

LIST OF KEY COMPANIES PROFILED:

• Biogen (U.S.)


• Pfizer Inc. (U.S.)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• Novartis AG (Switzerland)


• Merck & Co., Inc. (U.S.)


• Sanofi (France)


• Teva Pharmaceutical Industries Ltd. (Israel)


• Janssen Pharmaceuticals, Inc. (Johnson & Johnson Corporation) (New Jersey)


• Bristol-Myers Squibb Company (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• April 2021: Biogen Inc. announced that the European Commission (EC) granted marketing approval for the subcutaneous injection of TYSABRI (natalizumab) to treat relapsing-remitting MS. This new route of administration provided improved efficacy and safety to the TYSABRI intravenous formulation. This approval expanded the company’s therapeutic portfolio for MS.


• July 2021: Biogen Inc. and InnoCare Pharma Limited announced their license and collaboration for Orelabrutinib, an oral small molecule for the potential treatment of multiple sclerosis.


• August 2020: Sanofi and Principia Biopharma Inc. announced that the former would acquire the outstanding shares of Principia for an aggregate equity value of approximately USD 3.68 billion.

REPORT COVERAGE

The research report provides qualitative and quantitative insights on the market and a detailed analysis of the European market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 pandemic on the market.

Report Scope & Segmentation