APAC Multiple Sclerosis Therapeutics Market

APAC Multiple Sclerosis Therapeutics Market Size (2023 to 2028)

The APAC multiple sclerosis therapeutics market is estimated to be worth USD 7.14 billion by 2028 from USD 5.54 billion in 2023, growing at a CAGR of 5.2% from 2023 to 2028.

A weak immune system is one of the leading causes of multiple sclerosis disease. Many age-related diseases, such as cardiovascular problems, autoimmune disorders, malignancies, and increased susceptibility to bacterial and viral infections, are caused by unbalanced immune responses. Increasing the aging of people above 60 reduces the immune system, which leads to multiple sclerosis disease in older people.

Y-O-Y growth in the incidence of multiple sclerosis primarily promotes market growth in Asia-Pacific. Reduced sun exposure, obesity, smoking habits, and other factors increase MS incidence. Usually, women are twice as likely as men to have MS. Increase in the aging population also drives the market forward. Increasing aging also leads to an increase in physical and mental diseases. MS prevalence is increased at 55–59 years old, resulting in therapeutics treatment of the illness which drives the market forward.

Increased R&D on multiple sclerosis therapeutics is one of the key factors propelling the market growth in this region. Multiple sclerosis is a disease that occurs in the central nervous system. This happens in ages between 20-45 years. According to research, a person with MS is affected by hundreds of different genes and genetic variations. However, many known genes are similar to several genes found in patients with autoimmune diseases such as type 1 diabetes, rheumatoid arthritis, or lupus. Due to this research, researchers found advancements in multiple sclerosis therapeutics for patient fast recovery. In addition, several studies and research found that people who expose to more time in the sun and people who have higher levels of vitamin D are less prone to develop MS.

Y-O-Y rise in awareness regarding multiple sclerosis is further boosting the multiple sclerosis therapeutics market growth in this region. The Multiple Sclerosis Society of India started the #NumbersMatter Campaign to promote information about numerous sclerosis diseases. People can know their condition and follow a healthy life by gathering information. Every March, there is an MS week to conduct the campaign and increase awareness among the people. In 2021, this campaign will be held from the 7th of March to the 13th of March. These campaigns brought together disease experts and representative patients to share information on pathogenesis, early screening, treatment and management, care, and recovery.

However, high costs associated with the treatment and a lack of skilled professionals are majorly hampering the growth of the multiple sclerosis therapeutics market in the Asia-Pacific region.

This research report on the APAC multiple sclerosis therapeutics market has been segmented and sub-segmented into the following categories.

By Drug Type:

• Immunosuppressants
• Immunomodulators

By Route of Administration:

• Oral
• Injectable and Others

By Distribution Channel:

• Hospital Pharmacy
• Retail pharmacy
• Online Pharmacy

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, the APAC region is forecasted to register the highest CAGR in the global market during the forecast period. In this region, the Indian market is anticipated to account for a significant share during the forecast period. Multiple sclerosis (MS) diagnosis is increasing in India mainly due to the number of neurologists and the availability of magnetic resonance imaging. In India, young people aged 20-30 are more prone to Multiple Sclerosis (MS). It is an autoimmune disease of the brain and central nervous system which affects nerves in these people.

China led the market in 2021. There are 30,000 MS patients in China, most of whom are females. The China National Registry of Central Nervous System Inflammatory Demyelinating Diseases began in 2021 to gather information from patients in China who have inflammatory demyelinating diseases, which helps the research to give these patients quality in the coming years. In addition, the Chinese government has taken several reimbursements to encourage the advancement of drugs in all medical shops and take adequate measures to improve these therapies.

On the other hand, the Japanese market is expected to showcase a healthy growth rate during the forecast period. In Japan, 15-40% of cases of MS are of type "opticospinal." This occurs mainly in older age. Some of the factors for this disease in Japan are steamed short-grain white rice intake, lack of sunlight, viral infection, and smoking. As a result, the market has grown in this region.

KEY MARKET PLAYERS:

Merck & Co., Inc., Novartis AG, Bayer AG, Sanofi, Bristol-Myers Squibb Company, Horizon Therapeutics plc, and Takeda Pharmaceutical Company Limited are notable companies operating in the APAC multiple sclerosis therapeutics market profiled in this report.