"Designing Growth Strategies is in our DNA"
Asia Pacific is the second largest region in the global multiple sclerosis drugs market. It is projected to grow at a CAGR of 6.9% 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 defined as an immunological disorder, which hinders the normal functioning of the brain. Treatment methods, such as drugs, therapies, and exercise, help to control the disease progression. The increasing prevalence of multiple sclerosis along with increasing government initiatives to reduce the cost of MS treatment through drugs has been fueling the Asia Pacific multiple sclerosis drugs market growth.
Our report on the Asia Pacific market covers the following countries/regions – China, India, Japan, Australia, South East Asia, and the rest of Asia Pacific.
Increasing Clinical Studies by Market Players to Fuel the Market Growth
Awareness regarding the multiple sclerosis drugs for the effective treatment has increased recently in the Asia Pacific countries. In order to fuel this demand, the pharmaceutical companies increased their development of multiple sclerosis drugs.
The launch of these drugs in Asia Pacific countries will fuel the Asia Pacific multiple sclerosis drugs market growth in the region.
New Product Approvals to Fuel Market Growth in the Region
Pharmaceutical companies have increased their focus on the development and commercialization of MS drugs in Asia Pacific countries.
A rise in such product approvals is expected to fuel market growth in the forecast period.
Request a Free sample to learn more about this report.
Lack of Awareness and Limitations Associated with Disease Diagnosis Tend to Limit the Market Growth
Multiple sclerosis occurs when the immune system damages the protective nerve covering. The symptoms include disruption in the normal functioning of the body. These symptoms sometimes go undiagnosed.
Moreover, sometimes people are not well aware about the symptoms and the disease.
The key examinations include MRI and the lumbar puncture for cerebrospinal fluid. In the emerging countries, owing to the lack of healthcare infrastructure as well as the skilled neurologists, there is a gap between the required diagnostic assistance and their supply.
These factors are expected to affect the growth of the market during the forecast period.
Biogen, Novartis AG, and F. Hoffman-La Roche Ltd. are the major players and accounted for significant portion of the Asia Pacific multiple sclerosis drugs market share. The dominance of these players in the market is due to the strong sales of these companies’ MS drugs portfolio.
Other players are Teva Pharmaceutical Industries Ltd., Pfizer Inc., and Bristol-Myers Squibb Company. These companies have been focusing on strategic initiatives such as mergers and acquisitions to strengthen their positions in the market.
To gain extensive insights into the market, Request for Customization
The research report provides qualitative and quantitative insights on the market and a detailed analysis of the Asia Pacific market size & growth rate for all possible segments in the market. Along with the Middle East & Africa market forecast, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the prevalence of the disease, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships and, the impact of COVID-19 pandemic on the market.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 6.9% from 2023 to 2030 |
Unit | Value (USD Billion) |
Segmentation | Drug Class; Route of Administration; Distribution Channel; and Country/Sub-Region |
By Drug Class |
|
By Route of Administration |
|
By Distribution Channel |
|
By Country/Sub-Region |
|
Growing at a CAGR of 6.9%, the market will exhibit steady growth in the forecast period (2023-2030).
Increasing prevalence of multiple sclerosis and strong presence of pipeline drugs have been fueling the market growth.
Biogen, F. Hoffman-La Roche Ltd., Novartis AG, and Sanofi are the major market players in the Asia Pacific market.
Japan dominated the market in 2022.
US +1 833 909 2966 ( Toll Free )