Multiple Sclerosis Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: November 14, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 24 billion |
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Revenue forecast in 2030 |
US$ 32.7 billion |
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Growth Rate |
CAGR of 3.5% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
drug class, route of administration, distribution channel, and region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global multiple sclerosis drugs market was pegged at US$ 24 billion in 2021 and is expected to witness a CAGR of 3.5% during the forecast period.
Market Fundamentals
Multiple sclerosis (MS) is a chronic disease that affects the central nervous system- the brain, and the spinal cord. It destroys the fatty tissues surrounding the nerves, making them impair to conduct electrical impulses to the brain. It can be caused due to environmental factors, genetic factors, infectious agents or autoimmune disorders. The symptoms of MS can be mild to severe, which included blurred vision, muscular weakness, troubled walking, tremors etc. Some of the most often-used treatments include physical therapy, muscle relaxants, antidepressants, and injectable, oral, and infused medicines.
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Market Dynamic
The global multiple sclerosis market is expanding mostly due to the disease's increasing prevalence. As more individuals are being diagnosed with the condition, there is a rising demand for multiple sclerosis drugs. The increasing cost of healthcare contributes to the development of the market for multiple sclerosis and is a crucial element in determining its growth rate. The market for multiple sclerosis drugs will also grow as more public and private groups launch awareness-raising campaigns. The global multiple sclerosis market drugs are propelled due to the increasing disposable income and the acceleration of the discovery of novel monoclonal antibodies, immunosuppressants, immunomodulators, and interferons. Along with this, a growing elderly population and a constantly evolving way of life will accelerate the market growth.
However, the high treatment cost associated with the treatment of multiple sclerosis and the lack of skilled professionals, especially in developing nations is the challenge for the global multiple sclerosis market growth.
Market Ecosystem
The global multiple sclerosis drugs market has been analyzed from three perspectives: drug class, route of administration, distribution channel, and region.
Multiple Sclerosis Drugs Market by Drug Class
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Based on drug class, the global multiple sclerosis drugs market has been divided into immunosuppressants, immunomodulators, interferons, and others. The immunomodulators segment dominates global multiple sclerosis drugs market. This is attributed to the increased use in treatment and new innovations in this segment. Its high demand is also responsible for the dominance of this segment.
Multiple Sclerosis Drugs Market by Route of Administration
Based on the route of administration, the global multiple sclerosis drugs market has been divided into Oral and Injection. The injection segment is further divided into intramuscular, intravenous, and subcutaneous. The injection segment dominates the global multiple sclerosis drugs market. This is because of the highly recommended use of subcutaneous injection for the treatment of multiple sclerosis.
Multiple Sclerosis Drugs Market by Distribution Channel
Based on the application, the global multiple sclerosis drugs market is subdivided into online pharmacy, retail pharmacy, and hospital pharmacy. The hospital pharmacy segment dominates the global multiple sclerosis drugs market. This is due to favorable reimbursement policies, patient footfall, and efforts by the government to strengthen government pharmacies.
Multiple Sclerosis Drugs Market by Region
Based on region, the global multiple sclerosis drugs market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America dominates the multiple sclerosis drugs market. This is attributed to the increasing prevalence of multiple sclerosis in the region. Also, increased drug launches and approvals and increased demand for immunosuppressants is driving the multiple sclerosis drugs market.
Competitive Landscape
Some of the prominent players operating in the global multiple sclerosis drugs market are: -
Strategic Developments
The global multiple sclerosis drugs market is expected to grow at a CAGR of 3.5% in the forecast period.
F. Hoffmann-La Roche Ltd, Celgene Corporation, Biogen Inc., etc. are a few key players in the global multiple sclerosis drugs market.
The immunomodulators segment dominates the global multiple sclerosis drugs market.
Asia Pacific region is expected to witness the highest global multiple sclerosis drugs market growth in the forecast period.
*Insights on financial permanence are subject to the availability of information in the public domain