LONDON, March 14, 2012 /PRNewswire/ -- Limited awareness about the disease and its overall occurrence and progression among end-users is hampering the European multiple sclerosis (MS) market. This is being exacerbated by the limited availability of accurate diagnostic tools. There is, therefore, an immediate need for innovative and enhanced therapeutic and diagnostic tools that support improved diagnosis and expand the range of treatment options.
New analysis from Frost & Sullivan (http://www.pharma.frost.com), Analysis of the European Multiple Sclerosis Market, finds that the market earned revenues of approximately $3.2 billion in 2010 and estimates this to reach approximately $5.38 billion in 2017, growing at a compound annual growth rate (CAGR) of 7.2 per cent from 2010-2017. The segments covered include: immunosuppressants, immunomodulators and corticosteroids.
"The rising number of people suffering from MS is resulting in higher demand for therapeutics," notes Frost & Sullivan Research Analyst Deepika Pramod Chopda. "This, coupled with strong pipeline development, is pushing robust growth in the overall market."
MS is characterised as a chronic disease, commonly diagnosed in patients between 20-50 years of age. It affects more than 2.5 million people across the world, with Europe accounting for nearly 550,000 cases.
Significant research is currently underway to efficiently treat MS. Innovative treatment therapies, including biologics and oral drugs, are favouring market prospects.
"Refined drug delivery technologies, mode of drug delivery (oral or injectable), and several other factors will encourage the use of MS drugs among patients," adds Deepika. "Novel treatment options will also promote the concept of combination therapies, accelerating market development."
A key challenge at present is the inaccuracy in disease diagnosis due to the lack of sensitive dia
|SOURCE Frost & Sullivan|
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