According to the current analysis
of Reports and Data, the global Multiple
Sclerosis Therapeutics market was valued at USD 21.29 billion in 2018
and is expected to reach USD 25.91 billion by year 2026, at a CAGR of 2.5 %. Multiple
Sclerosis is a disabling condition of the central nervous system that impairs
the flow of information within the brain and between the body and the brain.
The intensity of Multiple Sclerosis ranges from numbness and tingling to
blindness and paralysis. Every person with Multiple Sclerosis has a different
symptom, which makes the diagnosis difficult. Increasing research related to
the signs and treatments related to Multiple Sclerosis is expected to drive the
market growth.
Another challenge faced by the Multiple Sclerosis therapeutics
market is the lack of awareness among the people associated with the Multiple
Sclerosis condition. The demand for Multiple Sclerosis is expected to increase
owing to the new drug developments for treating Multiple Sclerosis. For
instance, according to an article published on July 31, 2019, by the National
MS Society, Dalfampridine tablets are expected to improve the information
processing speed in people who have Multiple Sclerosis. Increasing awareness
among the people in developing nations, coupled with an increase in the
developments in the healthcare sector, is further expected to drive the market
for Multiple Sclerosis therapeutics. Additionally, the increasing research and
study associated with Multiple Sclerosis are expected to increase the market
for Multiple Sclerosis therapeutics in the coming years. University College
London researchers explained how the early MRI signs might indicate the future
disease course of Multiple Sclerosis.
Progress in treatments and drugs
for Multiple Sclerosis is the primary factor driving the growth of the market.
The increasing number of Multiple Sclerosis incidences, growing awareness among
the people, development in the drugs and therapeutics sector, increasing
government support, and increased investments in the healthcare and medical
sector is expected to propel the market in the coming years. However,
difficulty in identifying the condition of Multiple Sclerosis and expensive
medications coupled with increased neglect towards the symptoms by a majority
of the people, is the major hindrance for market growth during 2019-2026.
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