20 Aug 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Leading independent healthcare analyst, Datamonitor Healthcare, has revealed in their latest research that the multiple sclerosis market is expected to peak at $18.3 billion in 2018. The market that is currently valued at $12 billion, is being driven by the continued uptake of novel oral therapies, the research report said.
The report estimated that the multiple sclerosis market in the US, Japan and five major EU markets is estimated to expand by over $6 billion at a compound annual growth rate (CAGR) of 7.40 percent, peaking at $18.3 billion in 2018.
This increase will largely be due to the emergence of novel oral therapies, including Gilenya, Aubagio and Tecfidera, which the report predicted will grow at an annual rate of 20.90 percent until 2021.
"Although injectable therapies possessed 88 percent of the market in 2012, there is now a much higher demand for oral therapies among multiple sclerosis patients," said Mr Daniel Chancellor, lead analyst, Datamonitor Healthcare.
He further added, "We are expecting Biogen Idec's Tecfidera to become the dominant multiple sclerosis therapy and we have forecast the drug to secure annual revenues of $4.50 billion 2021, equating to a 26 percent market share. This would be comparable to Copaxone's current standing, which is impressive considering the increased level of competition expected in the future multiple sclerosis market."