Multiple sclerosis is a chronic, inflammatory, autoimmune disease that affects the central nervous system, specifically the communication between the brain and other parts of the body. In particular Multiple sclerosis (MS) is a demyelinating disease in which insulating covers of nerve cells in the brain and spinal cord are damaged. Normally, there is no cure to MS, typically treatment focusses on speeding recovery from damages slowing the progression of diseases and managing MS symptoms.
Symptoms of MS vary widely and depend on the amount of nerve damage and the type and location of the nerves affected.
The symptoms of MS are numbness or weakness of limbs mostly affecting one side of the body, partial or complete loss of vision, double vision, electric-shock sensations with certain neck movements, tremor, and lack of coordination or unsteady gait, slurred speech, fatigue, dizziness, problems with bowel and bladder function, and others. Severe MS can affect the ability to walk independently or result in complete disability. The major causes of MS are walking and coordination problem, muscle weakness, fatigue, vision problems but the effects of MS differ from patient to patient.
The increasing patient population, greater screening and need for better treatment options are expected to be the major factors for the growth of this market during forecasted period. In aging population is more susceptible to the disease.
Nevertheless, the significant gap between early diagnosis and the actual initiation of therapy remains a critical restraining factor to market growth. The lack of cure and effective treatment is a major drawback of the current treatment. Advent of a new drug with even partial cure rates are likely to be welcomed by the market with a minimum cost and marketing efforts. Thus, research and development strategy is expected to yield the highest benefit with huge gains and benefits for the first comer.
The global multiple sclerosis treatment market is expected to grow at a CAGR of 3.5% during forecasted period 2017-2023.
Segmentation
The global multiple sclerosis treatment market is segmented on the basis of drug type, into immunomodulators, immunosuppressant, and other.
On the basis of the route of administration, the market is segmented into injectable, oral, and other.
On the basis of the diagnosis, the market is segmented into Magnetic Resonance Imaging (MRI) scans, simple electrical stimulation tests, and lumbar puncture and other
On the basis of end-users, they are segmented as hospitals, clinics, and others.
Key Players for global multiple sclerosis treatment markets
Teva Pharmaceuticals (Isreal), Bayer Healthcare (Germany), Biogen Idec (US), Pfizer Inc. (US), Sanofi Aventis (France), Merck (US), Novartis (Switzerland), AbbVie (US)
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