A prominent research firm, Cognizance Market Research added an innovative industry report on the ” Global Primary Progressive Multiple Sclerosis Treatment Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2022 to 2030.
Global Primary Progressive Multiple Sclerosis Treatment Market Analysis:
According to cognizance market research, the Global primary progressive multiple sclerosis treatment market was valued at US$ 994.3 million in 2022 and is anticipated to reach US$ 3,012.8 million by the end of 2030 expected to register a CAGR of 14.9% from 2023 to 2030.
What is Global Primary Progressive Multiple Sclerosis Treatment Market?
The market for drugs and therapies used to treat patients with primary progressive multiple sclerosis (PPMS) refers to the market for drugs and therapies used to treat patients with PPMS, a type of multiple sclerosis (MS) characterised by a steady progression of neurological symptoms without the occurrence of relapses. PPMS affects a lesser proportion of MS patients than other types of the illness, such as RRMS and SPMS, but it is linked with more severe impairment and a greater burden on patients and carers.
Disease-modifying treatments (DMTs), symptom management medications, and supportive therapies are among the pharmaceuticals and therapies available in the PPMS therapeutic market. DMTs are medications that are intended to change the fundamental course of the illness and reduce its progression, whilst symptom management therapies are used to treat PPMS symptoms such as spasticity and exhaustion. Physical therapy and occupational therapy, for example, are crucial components of the total treatment of PPMS.
The PPMS treatment market is expanding because of the disease’s rising prevalence, the discovery of novel medications and therapies, and the use of digital health technologies that improve patient outcomes and access to care. As the market evolves, new possibilities for medication developers, healthcare providers, and other stakeholders to enhance the lives of people with PPMS are expected to appear.
PPMS is a very uncommon variant of multiple sclerosis (MS), accounting for only around 10-15% of all MS cases. PPMS often affects elderly people at the time of diagnosis, with symptoms that deteriorate with time without remission. PPMS, unlike other types of MS, is distinguished by a constant and progressive loss in neurological function with no relapses.
The precise aetiology of PPMS is unknown, although it is thought to be an autoimmune reaction in which the body’s immune system assaults the myelin sheath that covers and protects nerve fibres in the central nervous system. As myelin is damaged, nerve fibres are also injured or destroyed, resulting in a variety of symptoms such as muscular weakness, coordination and balance issues, and vision, speech, and cognition issues.
As our understanding of the underlying processes of PPMS grows and new medications and therapies are researched and evaluated, there is optimism that improved treatments will become accessible to help individuals with this severe condition.
Global Primary Progressive Multiple Sclerosis Treatment Market Outlook:
The primary progressive multiple sclerosis (PPMS) treatment market is predicted to expand in the next years, driven by factors such as increasing illness prevalence, increased disease awareness, and the discovery of novel medications and therapies. However, the industry confronts significant hurdles, including high treatment costs, limited therapy options for PPMS patients, and the lack of a cure for the condition.
The rising incidence of the condition is one of the primary drivers of the PPMS therapy industry. According to the National Multiple Sclerosis Society, PPMS affects around 15% of MS patients and is projected to rise as the population ages. This expanding patient population will boost demand for novel and effective PPMS therapies.
Another important market driver is rising illness knowledge and comprehension. As more knowledge about the origins and symptoms of PPMS becomes accessible, healthcare practitioners and patients will be better equipped to find and manage the condition. This greater awareness is also fuelling the need for new and more effective therapies.
The excessive cost of therapy is one of the primary difficulties confronting the PPMS treatment market. Many of the medicines and treatments used to treat PPMS are costly, making them out of reach for many patients. This excessive cost also serves as a barrier to the development of novel treatments and cures since drug developers may be unwilling to spend in R&D for a market with low-income potential.
Despite these obstacles, the PPMS therapy business offers several prospects for expansion. The creation of novel pharmaceuticals and therapies is one of the most important opportunities. For example, in March 2021, Biogen won FDA clearance for aducanumab, the first medication to target the underlying pathology of Alzheimer’s disease. While this medicine is not targeted at PPMS, it proves the possibility for novel therapies that can target the fundamental causes of neurological illnesses to be created.
The adoption of digital health technology is another avenue for expansion. Telemedicine and mobile health applications, for example, can aid PPMS patients gain access to therapy, save expenses, and improve patient outcomes. Research published in the Journal of Telemedicine and Telecare, for example, discovered that telemedicine can be a useful technique for giving physical therapy to individuals with PPMS.
Segment Analysis:
The market for primary progressive multiple sclerosis (PPMS) therapies is divided into three categories: medication type, distribution channel, and geography.
The market can be further divided into immunosuppressants, monoclonal antibodies, and others based on medication type. Because of their excellent effectiveness in treating PPMS, monoclonal antibodies are projected to be the dominating sector. In PPMS patients, monoclonal antibodies such as ocrelizumab and alemtuzumab have been proven to reduce the course of impairment. Immunosuppressants are also predicted to develop rapidly, owing to increased usage of medications such as mitoxantrone and cyclophosphamide.
Immunosuppressants: These medications lower the intensity of symptoms and limit the course of the disease by inhibiting the immune system. Mitoxantrone, cyclophosphamide, and azathioprine are sub-segments in this group.
Monoclonal antibodies: These medications function by targeting certain immune system cells to decrease inflammation and halt disease development. This category’s sub-segments include ocrelizumab, alemtuzumab, and rituximab.
Others: This category has medications that do not fall into the categories of immunosuppressants or monoclonal antibodies, such as interferon beta-1a and glatiramer acetate. These medications act by changing the immune system to minimise inflammation and halt disease development.
The market may be further categorised based on distribution channels into hospital pharmacies, retail pharmacies, and internet pharmacies. Because the majority of PPMS patients are treated in hospitals or other healthcare facilities, the hospital pharmacy sector is projected to be the market leader. The online pharmacy industry, on the other hand, is predicted to increase at a quicker rate, owing to the growing popularity of online purchasing and the convenience provided by online pharmacies.
Monoclonal antibodies are predicted to be the fastest-expanding sector in the PPMS therapy market.
Geographical Analysis:
Based on geography the global primary progressive multiple sclerosis treatment market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
Because of the high incidence of the condition in the region, well-established healthcare infrastructure, and the presence of large pharmaceutical firms, North America is likely to be the dominant market for PPMS therapy. According to the National Multiple Sclerosis Society, around 1 million people in the United States have multiple sclerosis (MS), and roughly 15% of them have PPMS. Furthermore, the availability of sophisticated diagnostic and treatment facilities is likely to fuel the growth of the North American PPMS treatment market.
Europe is predicted to be the second largest market for PPMS therapy, owing to the region’s high illness awareness and comprehension, well-established healthcare infrastructure, and the presence of significant pharmaceutical firms. According to the European Multiple Sclerosis Platform, there are around 700,000 persons living with MS in Europe, with PPMS accounting for approximately 10% of them. Furthermore, the increased use of improved treatment alternatives, as well as the availability of reimbursement policies, are projected to boost the growth of the European PPMS treatment market.
Due to the increasing frequency of MS in the region, rising healthcare spending, and the availability of a large patient pool, Asia Pacific is predicted to be the fastest-expanding market for PPMS therapy. According to Grand View Research, the prevalence of MS in Asia is rising at a pace of 3-5 per cent each year, and the region is projected to have 30,000-40,000 people living with the disease. Furthermore, the growing emphasis on the creation of modern healthcare facilities, as well as the availability of low-cost treatment choices, are likely to support the growth of the Asia Pacific PPMS treatment market.
In terms of the leading and fastest-increasing segments in each region, monoclonal antibodies are predicted to be the leading and fastest-expanding segment across all regions. This is due to the great efficacy of these medications in treating PPMS, as well as the growing acceptance of modern treatment choices.
The report offers the revenue of the global primary progressive multiple sclerosis treatment market for the period 2020-2030, considering 2020 & 2021 as a historical years, 2022 as the base year and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global primary progressive multiple sclerosis treatment market for the forecast period. The global primary progressive multiple sclerosis treatment market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the global primary progressive multiple sclerosis treatment market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the global primary progressive multiple sclerosis treatment market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the global primary progressive multiple sclerosis treatment market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the global primary progressive multiple sclerosis treatment market. Primary research involved a great extent of research efforts, wherein experts conducted interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the global primary progressive multiple sclerosis treatment market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the global primary progressive multiple sclerosis treatment market. The subsequent section of the global primary progressive multiple sclerosis treatment market report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Primary Progressive Multiple Sclerosis Treatment Market Competitive Landscape:
The market for primary progressive multiple sclerosis (PPMS) therapies is extremely competitive, with numerous established businesses as well as new entrants fighting for market dominance. To preserve their market position, the industry’s top companies are focused on creating innovative medicines and extending their geographical presence. The following companies are important participants in the PPMS treatment market:
To increase their research and development skills and grow their product line, these firms are focused on collaborations and partnerships with other companies, academic institutes, and government agencies. Biogen and Eisai Co., Ltd., for example, announced an agreement in March 2021 to jointly develop and market two clinical-stage experimental medicines, including an anti-Tau antibody for the treatment of Alzheimer’s disease and other neurodegenerative illnesses.
Companies are also investing in new product releases and advancements to keep their market leadership. For example, Novartis AG got permission from the US Food and Medicine Administration (FDA) in May 2020 for its drug Mayzent (siponimod) for the treatment of PPMS. This medicine is the first and only FDA-approved therapy for PPMS, giving Novartis a considerable market advantage.
Furthermore, corporations are working on mergers and acquisitions to extend their market presence and product offers. For example, Roche Holding AG completed the purchase of Spark Therapeutics, a prominent gene therapy business, in May 2019 to extend its gene therapy portfolio and improve its position in the neurology market.
The report explores the competitive scenario of the global primary progressive multiple sclerosis treatment market. Major players working in the global primary progressive multiple sclerosis treatment market have been named and profiled for their unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the global primary progressive multiple sclerosis treatment market report.
Segmentation:
Global Primary Progressive Multiple Sclerosis Treatment Market, By Treatment Type:
Global Primary Progressive Multiple Sclerosis Treatment Market, By Distribution Channel:
Global primary progressive multiple sclerosis treatment market, by region:
Research Methodology: Aspects
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Key phases involved in in our research process are mentioned below:
Understanding Clients’ Objectives:
Extensive Discussions and Consultations:
Industry and Market Segment Analysis:
Target Audience Understanding:
Identifying Challenges and Opportunities:
Grasping Specific Goals:
Data Collection:
Primary Research Process:
Secondary Research Process:
Data Analysis:
The data analysis phase serves as a critical juncture where raw data is transformed into actionable insights that inform strategic decision-making. Through the utilization of analytical methods such as statistical analysis and qualitative techniques like thematic coding, we uncover patterns, correlations, and trends within the data. By ensuring the integrity and validity of our findings, we strive to provide clients with accurate and reliable insights that accurately reflect the realities of the market landscape.
Transformation of Raw Data:
Utilization of Analytical Methods:
Statistical Analysis:
Qualitative Analysis Techniques:
Integrity and Validity Maintenance:
Data Validation:
The final phase of our research methodology is data validation, which is essential for ensuring the reliability and credibility of our findings. Validation involves scrutinizing the collected data to identify any inconsistencies, errors, or biases that may have crept in during the research process. We employ various validation techniques, including cross-referencing data from multiple sources, conducting validity checks on survey instruments, and seeking feedback from independent experts or peer reviewers. Additionally, we leverage internal quality assurance protocols to verify the accuracy and integrity of our analysis. By subjecting our findings to rigorous validation procedures, we instill confidence in our clients that the insights they receive are robust, reliable, and trustworthy.
Importance of Data Validation:
Scrutiny of Collected Data:
Validation Techniques:
Internal Quality Assurance Protocols:
Report Scope:
Attribute
Description
Market Size
US$ 3,012.8 Million (2030)
Compound Annual Growth Rate (CAGR)
14.90%
Base Year
2022
Forecast Period
2023-2030
Forecast Units
Value (US$ Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Geographies Covered
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Countries Covered
U.S., Canada, Germany, U.K., France, Spain, Italy, Rest of Europe, Japan, China, India, Australia & New Zealand, South Korea, Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC, South Africa, Rest of Middle East & Africa
Key Companies Profiled
Biogen Inc., Novartis AG, Roche Holding AG, Sanofi S.A., Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc., AbbVie Inc., Bristol-Myers Squibb Company, Bayer AG, Eisai Co., Ltd., GlaxoSmithKline plc, Genentech, Inc., Mylan N.V., Johnson & Johnson Services, Inc., Actelion Pharmaceuticals Ltd., Acorda Therapeutics, Inc., Alexion Pharmaceuticals, Inc., Alkermes plc, Amgen Inc., Astellas Pharma Inc., Biota Pharmaceuticals, Inc., Celgene Corporation, Chugai Pharmaceutical Co., Ltd., Daiichi Sankyo Company, Limited
The Global Primary Progressive Multiple Sclerosis Treatment Market was valued at US$ 994.3 million in 2022 and is anticipated to reach US$ 3,012.8 million by the end of 2030 expected to register a CAGR of 14.9% from 2023 to 2030.
The rising incidence of PPMS, innovations in treatment choices, and greater awareness among patients and healthcare professionals are driving market expansion. High treatment costs and restricted availability of medicines are two factors limiting expansion.
The discovery of innovative therapies, as well as increasing expenditure in research & development, are key developments in the PPMS treatment industry.
Biogen, Novartis, Roche, and Sanofi are among the market leaders in PPMS therapy. Partnerships, collaborations, and mergers and acquisitions are among the strategies used by these companies.
Disease-modifying therapy, symptom management drugs, and rehabilitative therapies are among the treatment possibilities for PPMS. The availability and effectiveness of the therapy influence adoption rates.
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