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South and Central America Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class, Route of Administration, and Distribution Channel

South and Central America Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class, Route of Administration, and Distribution Channel

  • May 2021
  • 119 pages
  • ID: 6103321
  • Format: PDF
  • The Insight Partners

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The South and Central America multiple sclerosis therapeutics market is expected to reach US$ 1,514.03 million by 2027 from US$ 1,009.82 million in 2019; it is estimated to grow at a CAGR of 6.5% from 2020 to 2027. The growth of the market is attributed to a few key driving factors such as the increasing prevalence of multiple sclerosis among population and rising funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment hinders the market growth.
Multiple sclerosis (MS) is an autoimmune disease that affects the central nervous system.It is a widespread disabling neurological condition that is mostly diagnosed in people in the age group of 20–50 years.

As per the studies published by Brazilian Congress of Neurology in Brazil, in 2020, the average prevalence of the multiple sclerosis disease is 8.69/100,000 inhabitants. Therefore, the growing prevalence of multiple sclerosis drives the growth of the South and Central America multiple sclerosis therapeutics market. Due to rise in funding across Latin America, extensive research is being carried on developing novel medicines and treatments for multiple sclerosis and other ways of identifying potential causes for multiple sclerosis. Various organizations such as National Institute of Neurological Disorders and Stroke, National MS Society, and Parkinson’s Action Network are undertaking extensive efforts to create novel therapies for MS, which is driving the growth of the market.
South and Central America is recording the growing number of COVID-19 cases.Currently, the countries in this region are rapidly increasing its clinical programs to fight against the COVID-19 outbreak.

However, research on the effects of novel coronavirus on multiple sclerosis may negatively influence the growth of the South and Central America multiple sclerosis therapeutics market.For instance, a research study titled, ‘Estimating the risk of COVID-19 in multiple sclerosis patients in Buenos Aires, Argentina’ was conducted at Centro de Esclerosis Múltiple Buenos Aires, Argentina.

As the number of COVID-19 patients is increasing exponentially across the region, there is growing need for data showing the impact of the novel coronavirus on MS.
The South and Central America multiple sclerosis therapeutics market, by drug class, is bifurcated into immunosuppressant and immunomodulators. The immunomodulators segment held a larger share of the market in 2019, whereas the immunosuppressants segment is anticipated to register a higher CAGR in the market during the forecast period.
The South and Central America multiple sclerosis therapeutics market, by route of administration, is bifurcated into injectable and oral. The injectable segment held a larger share of the market in 2019, and the same segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on distribution channel, the South and Central America multiple sclerosis therapeutics market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment held the largest share of the market in 2019, whereas the e-commerce segment is estimated to register the highest CAGR in the market during the forecast period.
A few of the primary and secondary sources referred to while preparing the report on the South and Central America multiple sclerosis therapeutics market are the Brazilian Congress of Neurology, Centers for Disease Control and Prevention (CDC), and Argentina’s National Administration of Drugs, Food and Medical Technology (ANMAT).

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