Secondary Progressive Multiple Sclerosis (SPMS) Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Multiple sclerosis (MS), which is also known as disseminated sclerosis, is an inflammatory disease of the nervous system. It is primarily characterized by the disruption of the nerve cells of the spinal cord and the brain, which results in the loss of ability to communicate along with various other physical, mental, and psychiatric problems. Secondary progressive multiple sclerosis (SPMS) is a type of MS that typically follows relapsing-remitting MS (RRMS). Approximately 65% patients with relapsing-remitting MS develop SPMS. Secondary progressive multiple sclerosis is difficult to diagnosis for neurologists due to progression. Repeated MRI scanning of the brain and neurological examinations are used to diagnose SPMS. Fatigue, depression, and problems thinking, stiffening or tightening of leg muscles, bowel and bladder problems, and trouble with coordination are key sign and symptoms of secondary progressive multiple sclerosis.
Increasing prevalence of neurological disorders, rising demand for advanced therapeutics for the treatment of SPMS in developing nations are some major factors driving the market. Multiple sclerosis is the most widespread neurological disorder that can affect individuals at any age; however, it is mainly diagnosed people between the ages of 20 and 40. According to Multiple Sclerosis Foundation, there are more than 2.5 million people suffering from multiple sclerosis around the world in 2015.
The global secondary progressive multiple sclerosis (SPMS) treatment market can be segmented based on medical treatment, end-user, and region. In terms of medical treatment, the market can be categorized into exercise, psychotherapy, and medication. Medicines including Interferon beta (Avonex, Betaseron, Extavia, Plegridy, and Rebif), Teriflunomide (Aubagio), Dimethyl fumarate (Tecfidera), Alemtuzumab (Lemtrada), Fingolimod (Gilenya), and Natalizumab (Tysabri) can help control secondary progressive multiple sclerosis.
In terms of end-user, the global secondary progressive multiple sclerosis (SPMS) treatment market can be classified into hospitals, clinics, and others. In term of revenue, the hospitals segment accounted for a significant share of the market in 2016.
Based on geography, the global secondary progressive multiple sclerosis (SPMS) treatment market can be segregated into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. These regions can be further divided into countries and medical treatment. North America is the leading market for SPMS treatment. In terms of revenue, the U.S. holds a major share of the market in North America. The market in Europe is expanding at a considerable pace due to the rise in prevalence of SPMS in the region. The market in Asia Pacific and Latin America is projected to expand significantly in the near future due to high annual incidence of secondary progressive multiple sclerosis. Developing economies such as China and India are anticipated to contribute to the expansion of the market in Asia Pacific between 2017 and 2025 due to better health care infrastructure, economic growth, increase in the number of insurance payers, growth of the private health care sector, and increase in awareness regarding disease. Brazil and Mexico dominate the secondary progressive multiple sclerosis treatment market in Latin America. South Africa, Turkey, and other developing countries in Middle East & Africa are the major markets for secondary progressive multiple sclerosis (SPMS) treatment.
Key players operating in the global secondary progressive multiple sclerosis (SPMS) treatment market are Pfizer INC, Bayer HealthCare AG, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Novartis AG, Biogen, Inc., Sanofi S.A., Synthetic Biologics, Inc. and Active Biotech AB.
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