MULTIPLE SCLEROSIS THERAPEUTICS MARKET ANALYSIS

Global multiple sclerosis therapeutics market growth can be hampered due to high treatment cost. Multiple sclerosis treatment requires lifelong care and treatment needs change throughout the patient's lifetime depending on the stage of the disease and response to treatment. The high costs stems from expensive disease modifying therapies (DMTs) that needs to be administered to control the disease progression. On average, the annual cost of multiple sclerosis treatment and care ranges between US$ 35,000 to US$ 50,000 per patient. This burden is unsustainable for many healthcare systems and makes the treatment inaccessible to a large patient population globally. The costs of medications and other healthcare services are increasing, owing to research and development investments required to bring new innovative therapies to the market. This widens the treatment access gap and remains a major roadblock for the market growth worldwide.

Market Opportunities: Emerging markets

Emerging markets can offer market growth opportunities. Traditionally the key markets have been North America and Europe owing to higher disposable incomes and better accessibility to healthcare. However, with growing medical needs, expanding private and public healthcare investments, increasing penetration of health insurance, and economic development; several emerging markets like Asia Pacific, Latin America, Middle East and Africa can drive the market growth. These regions present lucrative prospects for pharmaceutical companies to recoup investments by commercializing affordable treatment options tailored for local needs. Health awareness and uptake of newer treatment modalities are increasing in developing nations, thus, tapping into these large patient pools will open new revenue streams for market players. Collaborations with local healthcare providers and governments will be crucial to capitalize on emerging opportunities and accelerate market access.