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S1P receptor modulator Drugs Market Segmented By drug type that is Fingolimod, Ozanimod, Siponimod and by its application such as Multiple sclerosis, Psoriasis, Cancer
S1P receptor performs basic biological processes such as cell proliferation, migration, cytoskeleton organization, immune cell trafficking and others. S1P receptor modulators are a type of immunomodulatory used in case of multiple sclerosis, psoriasis, inflammatory diseases, and cancer. S1P receptor modulators are used to control the release of lymphocytes in peripheral blood and reach the central nervous system.
According to the Multiple Sclerosis Association of America, approximately 3.5 out of 1,000 people suffer from multiple sclerosis in the U.S. The global S1P receptor modulator drugs market is likely to grow with the increasing prevalence of multiple sclerosis.
The outbreak of novel coroanavirus has caused a disturbance in almost all industries, also impacted the global S1P receptor modulator drugs market. The pandemic has brought on many aspects, like falling business assurance, uncertainty about future, massive slowing of the supply chain, and others.
S1P receptor modulator drugs market manufacturing industries are being shuttered around the world causing an unusual technology and business model transformation. There has been a disruption in the production and supply of S1P receptor modulator drugs due to the global restrictions. Also, due to the initial lockdown, the industries are now facing a demand shock with an uncertain recovery timeline.
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The increasing prevalence of multiple sclerosis and psoriasis across the globe is the major factor driving the growth of the global S1P receptor modulator drugs market. The increasing advancement in technology and diagnosis and the treatment-seeking rate is also likely to drive the global S1P receptor modulator drugs market.
Further, the rising R & D investments in developing countries are boosting the S1P receptor modulator drugs market growth. However, stringent regulations imposed by the regulatory authorities can restrain the growth of the global S1P receptor modulator drugs market.
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Based on the drug type, the fingolimod segment is expected to hold a major share in the S1P receptor modulator drugs market. Based on the application, the multiple sclerosis segment is expected to dominate the global S1P receptor modulator drugs market due to the increasing prevalence of the disease.
Based on the distribution channel, retail pharmacies segment is expected to be the most dominating segment in the global S1P receptor modulator drugs market due to the increasing number of retail channels for prescription drugs. The online pharmacies segment is increased due to the rapid adoption of e-pharmacy and easy availability of drugs during the COVID-19.
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North America is expected to dominate the global S1P receptor modulator drugs market, due to the rising prevalence of multiple sclerosis, increasing R & D investment, new product launches, and rising demand for immunomodulators in the region. North America is expected to be followed by Europe, due to the active government recommendations and favourable health reimbursement policies in the region.
Asia-Pacific is expected to show rapid growth in the global S1P receptor modulator drugs market over the forecast period due to the improved distribution networks of pharmaceutical companies and rising healthcare expenditure in developing countries.
Some of the market participants in the global S1P receptor modulator drugs market identified across the value chain include: Novartis International AG, Bristol Myers Squibb, Pfizer Inc., Sanofi S.A, Merck & Co., Inc., Biogen Inc., Roche Holding AG, and others.
