Limited awareness about the disease and its overall occurrence and progression among patients is hampering the European multiple sclerosis market, according to a new report.
The analysis from Frost & Sullivan, which claims that the problem is being "exacerbated by the limited availability of accurate diagnostic tools, notes that the MS market in Europe earned revenues of $3.20 billion in 2010. It estimates this will reach $5.38 billion in 2017, growing at a compound annual growth rate of 7.2%.
F&S analyst Deepika Pramod Chopda says that "refined drug delivery technologies, mode of drug delivery (oral or injectable), and several other factors will encourage the use of MS drugs. She added that novel treatment options will also promote the concept of combination therapies, accelerating market development.
The report argues that "cumbersome and painful procedures discourage the progress of therapy", adding that "simple advances, like the use of oral drugs instead of injections, will prove beneficial to promoting compliance". Ms Chopda concludes by saying that "awareness-raising through public healthcare forums and organisations about new developments and innovative treatment options will contribute towards establishing greater end-user confidence".