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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.