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HEALTHCARE & PHARMACEUTICAL

Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market Segmentation by Drug Type (Beta-Interferon, Cladribine, Dimethyl Fumarate, Fingolimod, Ozanimod, and Others); by Route of Administration (Oral, Injectable, and Intravenous) and by End-User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 2021: Biogen announced that the European Commission had granted marketing authorization for its new subcutaneous administration of TYSABRI, which is indicated for the treatment of relapsing-remitting multiple sclerosis.
  • August 2020: Novartis AG announced that it has received FDA approval for its first and only self-administered targeted B-cell therapy, Kesimpta, which is used to treat patients with relapsing multiple sclerosis.

Global Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market Highlights 2022-2030

The global relapsing-remitting multiple sclerosis (RRMS) treatment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. One of the key factors contributing to the growth of the market is the rising prevalence of relapsing-remitting multiple sclerosis (RRMS). With the growing prevalence of the disease, the demand for advanced treatment has increased significantly, which is one of the crucial factors accelerating the market growth. According to the National Multiple Sclerosis Society (NMSS), RRMS is the most common form of multiple sclerosis, and nearly 85% of people with multiple sclerosis are initially diagnosed with this form. Additionally, the growing geriatric population across the world is also anticipated to fuel the growth of the market in the upcoming years. The world's older population continues to rise at an alarming rate. Globally, the risk of multiple sclerosis is increasing in older people, which is further expected to generate substantial demand for the product. According to the World Bank Data, an estimated 9.099% of the world's total population was 65 years and older in 2019. Further, as notified by the World Population Prospects, it is estimated that 1 in every 6 people globally will be over 65 years of age by 2050. Besides, it was also estimated that by 2020, the number of people belonging to the age group 60 and older would outnumber the population of children younger than 5 years. In addition to this, the world population of 80 years and older is also projected to grow from 143 million in 2019 to approximately 426 million in 2050.

Global Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market

The market is segmented by drug type into beta-interferon, cladribine, dimethyl fumarate, fingolimod, ozanimod, other drugs. The beta-interferon segment is estimated to capture the larger share of the market, in 2021, and is anticipated to grow at a lucrative CAGR during the forecast period. This can be attributed to the product approval by the U.S. Food & Drug Administration (FDA), along with its higher efficiency.

The market has been segmented into oral, injectable, and intravenous based on the route of administration. Over the next few years, the oral segment is anticipated to grow at a lucrative CAGR on account of the increased efficiency rate of the oral route of administration. Further, the increasing approval of oral drugs is also anticipated to contribute to the market segment's growth. Based on end-user, the hospital segment is expected to capture a higher share in 2020 and is further anticipated to grow at a lucrative rate over the forecast period, which is primarily attributed to the growing influx of patients in hospitals. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. Presently, the market in North America captures the larger share of the market, which is primarily attributed to the growing prevalence of RRMS in the region. According to the Multiple Sclerosis Association of America (MSAA), an estimated 1 million people in the United States are currently living with multiple sclerosis. In addition, it has been reported that the risk of developing multiple sclerosis in the U.S. is 3.5 in 1,000 people. Moreover, the favourable reimbursement policies in the country are also projected to drive the market’s growth in the forthcoming years. Another factor contributing to the growth of the market is the rising geriatric population in the region. According to the U.S. Census Bureau, more than 54 million people in the United States are aged 65 years and older. Moreover, it is to be noted that multiple sclerosis is becoming more prevalent in the geriatric population, which is further anticipated to generate a high demand for advanced treatment in the region.

Relapsing-Remitting Multiple Sclerosis (RRMS) Treatment Market

The global relapsing-remitting multiple sclerosis (RRMS) treatment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global relapsing-remitting multiple sclerosis (RRMS) treatment market includes the following segments:

By Drug Type

  • Beta-interferon
  • Cladribine
  • Dimethyl Fumarate
  • Fingolimod
  • Ozanimod
  • Others

By Route of Administration

  • Oral
  • Injectable
  • Intravenous

By End-user

  • Hospital
  • Clinics
  • Ambulatory Surgical Centers
  • Others

Growth Drivers

  • Rising Prevalence of Relapsing-Remitting Multiple Sclerosis (RRMS)
  • Rapidly Increasing Geriatric Population

Challenges

  • High Cost of the Treatment

Top Featured Companies Dominating the Market

  • Biogen, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Eisai Co., Ltd.
  • Glenmark Pharmaceuticals
  • Merck KGaA
  • Novartis AG
  • Sanofi-aventis Groupe
  • Teva Pharmaceutical Industries Ltd.
  • Genentech, Inc.
  • Acorda Therapeutics, Inc.
  • Amneal Pharmaceuticals LLC.

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