The market for disease-modifying multiple sclerosis drugs is projected to reach $25.3 billion by 2026, according to a new report.
A new report from GlobalData found that the market for disease-modifying therapies (DMTs) for multiple sclerosis (MS) skyrocketed to $19.1 billion in 2016 across 7 major markets.
The study projects that the market will reach $25.3 billion by 2026 in the United States, France, Germany, Italy, Spain, the UK, and Japan, at a compounded annual growth rate of 2.9%, according to a press release.
The researchers found that the boom in DMT sales will be related to higher MS treatment rates and the emergence of costly products, which will offset the entrance of generic drugs, GlobalData reported.
Currently, the competition of the MS market is increasing, although there are numerous moderately effective injectables available, according to the report.
“Reliance on these platform injectables is expected to wane over the forecast period due to the continued uptake of oral DMTs and efficacious pipeline products,” said Gengyu Li, health care analyst at GlobalData.
The development and subsequent approval of more effective therapies may dramatically shift the MS market, according to the release.
“Various R and D and corporate strategies have been employed by players in order to compete effectively in the increasingly competitive MS market,” Li said. “These strategies include the development of products that target key clinical unmet needs or progressive types of MS, thereby expanding the coverage of marketed products, as well as strategic partnerships between companies.”
The authors said that there are still significant unmet needs for MS patients—especially those with the relapsing remitting form of the disease—despite the competitive nature of the market, according to the release.
“Targeting progressive MS will be an ongoing opportunity, as competition for market share in this segment will be considerably less fierce than in relapsing remitting MS,” Li said.
The analysis also showed that drugs with lower relapse rates and good safety profiles will continue to be popular among physicians.
Additionally, manufacturers will have the opportunity to develop drugs that hinder disease progression, inhibit disability, and potentially reverse MS-related damage into 2026, according to the release.
The report found there are 17 late-stage MS drugs anticipated to enter the market by 2026. If approved, these pipeline drugs are estimated to account for 29.6% of the global MS market by 2026, with total sales reaching $7.5 billion, the release concluded.