In terms of revenue, the Global Multiple Sclerosis Drugs Market is expected to reach USD 31.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.7% from 2022 to 2028.
The growing prevalence of this disease has augmented the demand for effective diagnosis and treatment of multiple sclerosis worldwide. As a result, the government is dynamically supporting various sclerosis treatments. Relapsing-remitting multiple sclerosis (RRMS), primary-progressive MS (PPMS), secondary-progressive MS (SPMS), and progressive-relapsing MS (PRMS) is the numerous sclerosis types, and their growth in incidence rate is responsible for the market conditions.
Expansion of the industry is expected to be aided by the federal government's enhanced funding and expedited research & development activities to deal with the increased occurrence of multiple sclerosis. Multiple sclerosis (MS) is a long-lasting, autoimmune, and inflammatory disease that affects the central nervous system (CNS) and the way the brain and different parts of the body communicate to each other. This causes a number of symptoms, such as vision loss, fatigue, pain, and trouble coordinating movements.
Key Highlights from Report:
● Among the drug class, the immunomodulators segment dominated the market in 2021 and is anticipated to dominate the Multiple Sclerosis Drugs market in the forecast period due to the extensive treatment options and the continuous launching of the new product for disease treatment.
● Based on the route of administration, the injection sub-segment is expected to flourish owing to the increase in the number of Multiple Sclerosis Drugs approvals as injections for subcutaneous utilization in the disease’s treatment.
● North America held the market share because of the increase in demand for immunosuppressant and molecular antibody drugs, growing R&D investment, and novel product launches in this region.
The growth of the global market can be attributable to significant factors such as the surge in the prevalence of multiple sclerosis across the globe. Also, increasing the geriatric population base, growing disposable income, and continuously changing lifestyles will develop the market growth rate. In addition, the increasing healthcare expenditure that facilitates improving its infrastructure will drive the growth of this market. Moreover, the expanding development of innovative monoclonal antibodies, immunosuppressants, immunomodulators, and interferons will likely boost the demand and the production.
Furthermore, the increase of key participants involved in developing Multiple Sclerosis Drugs is gradually rising by making significant investments to bring new solutions to the market. As a result, numerous vital developments have been made. The expanding R&D and regulatory approvals for novel solutions are other aspects that will be responsible for the dominance of this market in the future. Moreover, growing initiatives by public and private organizations to spread awareness are expected to expand the market size. Besides, the players operating in the Multiple Sclerosis Drugs market are focusing more on gaining approval from the FDA for their recently developed drugs.
North America market is projected to observe significant market growth with the maximum CAGR during the forecast period. The region’s market growth can be attributable to the increased prevalence of multiple sclerosis, the growing number of hospitalization procedures, and the increasing healthcare infrastructure. In addition, the high concentration of pharmaceutical companies in R&D activities to develop novel drugs for treating multiple sclerosis is likely to drive market growth in this region. Moreover, the government initiatives for mounting awareness of multiple sclerosis and its treatment among the high population will propel regional development in the coming years. Besides, the region's governments are actively undertaking initiatives to create awareness about the treatment and diagnosis of MS, which will further fuel market growth.
The Global Multiple Sclerosis Drugs Market is Segmented as follows:
- Drug Class
- Other Drug Classes
- Route of Administration
- Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Multiple Sclerosis Drugs Market is:
Celgene Corporation, Acorda Therapeutics Inc., Biogen Inc., Actelion Pharmaceuticals (Johnson & Johnson), EMD Serono (Merck KGaA), Bayer AG, Teva Pharmaceutical Industries Ltd., Novartis AG., Sanofi, F. Hoffmann-La Roche Ltd.
The Global Multiple Sclerosis Drugs Market Scope can be Tabulated as below:
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|