Multiple Sclerosis Drugs Market to Rise at CAGR of 5.9% during Forecast Period, notes TMR Study

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Aug 16, 2022, 09:30 ET

The market for multiple sclerosis drugs is anticipated to rise more quickly throughout the projected period due to an increasing number of prospective pipeline drug development programs
An increase in multiple sclerosis cases is likely to lead to higher demand in the global multiple sclerosis drugs market

WILMINGTON, Del., Aug. 16, 2022 /PRNewswire/ -- The value of global multiple sclerosis drugs market size was clocked at US$ 20 Bn in 2019. The global market is anticipated to attain valuation of US$ 31.5 Bn by 2027. The global multiple sclerosis drugs market projections predict the market to develop at a CAGR of 5.9% during the forecast period, from 219 to 2027. The huge increase in research initiatives aimed at finding novel multiple sclerosis medications with increased efficacy is principally responsible for the market's expansion. Stakeholders should prioritize getting their recently produced multiple sclerosis medications approved by the FDA while also focusing on mergers and acquisitions to increase their market share. Introduction of new drugs and its subsequent approval from FDA are the emerging trends of the multiple sclerosis drugs market.

Governmental and non-governmental organizations in developing and developed countries are speeding up their efforts to raise awareness regarding multiple sclerosis and are spending significant amounts of money for research and the development of novel medications.

The development of the global market for multiple sclerosis drugs is anticipated to be significantly influenced by advancements made in the life sciences and healthcare over the last decade. Additionally, growing prevalence of multiple sclerosis, increasing number of promising pipeline drug development programs, and unaddressed requirements in the realm of multiple sclerosis are anticipated to present growth prospects for the companies in the multiple sclerosis drugs market.

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Key Findings of Market Report

Improved outcomes are promised by a new multiple sclerosis drug under development. While there is no proven cure for multiple sclerosis, novel drugs are increasingly being used to control symptoms and slow down the disease's development. Several other multiple sclerosis therapies are in the research pipeline and are anticipated to join the global market, despite the FDA's clearance for novel drugs and treatments.
Global multiple sclerosis prevalence and occurrences are expected to rise, along with public awareness about the disease, which is expected to propel the market during the forecast period.
Based on drug class, the interferon beta category accounted for a sizable portion of the market for drugs for multiple sclerosis in 2018. The market for is expected to be dominated by monoclonal antibodies throughout the projected period.

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Global Multiple Sclerosis Drugs Market: Growth Drivers

Regarding distribution channels, the retail pharmacies & drug stores category is anticipated to account for a substantial multiple sclerosis drugs market share and lead the market in the near future.
Due to the huge patient population with RRMS, the parenteral mode of administration category is anticipated to grow at a faster CAGR throughout the forecast period. Approximately 75% to 85% of people with MS also suffer RRMS.

Global Multiple Sclerosis Drugs Market: Key Players

Some of the key market players are

Acorda Therapeutics, Inc.
Teva Pharmaceutical Industries Ltd
F. Hoffmann-La Roche Ltd
EMD Serono (Merck KGaA)
Novartis AG
AbbVie, Inc.

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Global Multiple Sclerosis Drugs Market: Segmentation

Drug Class

Interferon Beta
Sphingosine 1 Phosphate Receptor Modulators
Mixed Polymers
NF-KB Inhibitor
Pyrimidine Synthesis Inhibitor
Monoclonal Antibodies
Corticosteroids
Adrenocorticotropic Hormone
Others

Disease Type

Relapsing-remitting MS (RRMS)
Primary-progressive MS (PPMS)
Secondary-progressive MS (SPMS)
Progressive-relapsing MS (PRMS)

Route of Administration

Parenteral
Oral

Distribution Channel

Hospital Pharmacies
Retail Pharmacies & Drug Stores
Online Pharmacies

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