USD 24.64 Billion
Multiple Sclerosis Drugs Market Size, Share, Growth Analysis, By Drug Class(Immunomodulators and Immunosuppressant), By Mode of Administration(Oral and Injection (Intramuscular, Subcutaneous, Intravenous)), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2199 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
62
|Figures:
77
Multiple Sclerosis Drugs Market Insights
Global Multiple Sclerosis Drugs Market size was valued at USD 25.40 billion in 2023 and is poised to grow from USD 26.19 billion in 2024 to USD 32.42 billion by 2031, at a CAGR of 3.10% during the forecast period (2024-2031).
The global multiple sclerosis (MS) drugs market is witnessing substantial growth, driven primarily by the increasing prevalence of MS worldwide and the expanding pipeline of novel therapeutics. Key factors fueling market expansion include rising awareness about MS, advancements in diagnostic technologies, and the introduction of innovative treatment options such as disease-modifying therapies (DMTs) and monoclonal antibodies. Moreover, the growing adoption of personalized medicine approaches and the emergence of oral therapies are reshaping the treatment landscape, offering patients greater convenience and improved efficacy. However, challenges persist, including the high cost of treatment, concerns regarding long-term safety and efficacy of drugs, and access barriers in developing regions. Additionally, competition among market players is intensifying, leading to price pressures and heightened focus on differentiation strategies. Geographically, North America dominates the MS drugs market, supported by well-established healthcare infrastructure, high prevalence rates, and robust research and development activities. Europe follows suit, driven by favorable reimbursement policies and increasing government initiatives to address the burden of MS. The Asia Pacific region presents lucrative opportunities for market growth, attributed to the rising incidence of MS, improving healthcare infrastructure, and expanding access to innovative therapies. Overall, the global MS drugs market is poised for continued expansion, propelled by ongoing research efforts, increasing investment in drug development, and a growing emphasis on patient-centric care.
US Multiple Sclerosis Drugs Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Oral Route
Fastest Growth
Oral Route
Growth Rate
3.10% CAGR
Global Multiple Sclerosis Drugs Market ($ Bn)
Country Share for North America Region (%)
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Multiple Sclerosis Drugs Market Segmental Analysis
Global Multiple Sclerosis Drugs Market is segmented by drug class, mode of administration, distribution channel, and region. Based on drug class, the market can be segmented into Immunomodulators and Immunosuppressant. Based on mode of administration, the market is segmented into Oral and Injection (Intramuscular, Subcutaneous, Intravenous. Based on distribution channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Multiple Sclerosis Drugs Market Analysis by Drug Type
Due to its effectiveness for patients with relapsing-remitting multiple sclerosis (RRMS), immunosuppressants held the largest market share in the multiple sclerosis market. Growing product approvals for MS medicines support the sector's expansion. Some additional benefits of these medications, such as low dosage needs for successful administration, few adverse effects, and high efficacy, are driving the market's expansion. Among the licensed immunosuppressants used to treat relapse forms of MS are alemtuzumab, fingolimod, glatiramer acetate, natalizumab, interferon-beta preparations, dimethyl fumarate, ocrelizumab, and teriflunomide.
The immunomodulators market is anticipated to expand at the highest rate due to greater prescription rates, consumer brand loyalty, and the availability of numerous medication alternatives. Copaxone, Avonex/Plegridy, Gilenya, Tysabri, Betaseron/Extavia, Tecifidera, Rebif, and Ampyra are some of the brands and medications now on the market that are immunomodulators.
Multiple Sclerosis Drugs Market Analysis by Route of Administration
The market is dominated by the oral route of administration segment because it improves treatment compliance and fosters patient satisfaction. The segment growth is supported by significant clinical advancements in orally administered drugs including fingolimod, teriflunomide, and dimethyl fumarate that have been licensed for the treatment of MS. The segment's expansion is fueled by the release of novel oral medications like Siponimod (BAF312), Tecfidera, Laquinimod, and Ozanimod.
The injectable segment is fastest growing in the market in 2022 and is projected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing preference for injectable drugs over oral drugs due to their higher efficacy and convenience. Injectable drugs are also more effective in controlling the symptoms of multiple sclerosis than oral drugs.
Global Multiple Sclerosis Drugs Market By Route of Administration
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Multiple Sclerosis Drugs Market Regional Insights
Due to the significant presence of major players and the rising prevalence of multiple sclerosis, North America currently controls the majority of the global market for multiple sclerosis. Companies like Novartis AG, Sanofi SA, and Biogen have established significant market positions in the United States and are consistently putting more emphasis on launching new medications. According to the National Multiple Sclerosis Society, Canada has the highest MS prevalence rate in the world (291 per 100,000). According to the National MS Society, there are 1 million or so MS patients in the United States.
Due to the high prevalence of unmet demands and the quickly growing healthcare infrastructure, Asia-Pacific is predicted to present attractive potential in the market for multiple sclerosis. To take advantage of the development potential, key businesses are signing deals with regional medicine producers. As an illustration, Teva Pharmaceuticals and Takeda Pharmaceuticals reached an agreement to work together on the distribution of Copaxone in Japan. Currently, multiple sclerosis is treated with the immunomodulator drug copaxone.
Global Multiple Sclerosis Drugs Market By Region
- Largest
- Fastest
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Multiple Sclerosis Drugs Market Dynamics
Multiple Sclerosis Drugs Market Drivers
Expansion of Indication for Existing Drugs
- Existing drugs used in the treatment of multiple sclerosis are often tested for additional indications and expanded usage. For example, some drugs initially approved for relapsing-remitting MS have received approvals for secondary progressive MS or clinically isolated syndrome. The expanded indications widen the patient population that can benefit from these drugs, leading to increased sales and market growth.
Favourable Reimbursement Policies
- Governments and insurance companies in many countries have implemented favourable reimbursement policies for MS drugs. These policies aim to improve patient access to medications by reducing the financial burden. Reimbursement support enables more patients to afford expensive MS drugs, thus driving market growth.
Multiple Sclerosis Drugs Market Restraints
High Cost of MS Drugs
- MS drugs are often associated with high costs, especially the newer disease-modifying therapies. The cost of these medications can pose a significant financial burden on patients, healthcare systems, and payers. Limited affordability and access to expensive MS drugs can restrict their adoption and limit market growth, particularly in regions with lower healthcare budgets or inadequate insurance coverage.
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Multiple Sclerosis Drugs Market Competitive Landscape
Key manufacturers are involved in initiatives such as new product development in an attempt to sustain market dominance. Companies are also actively involved in collaborating with other drug manufacturers for the co-development of drugs. This initiative is expected to help manufacturers strengthen their product portfolio in the multiple sclerosis therapeutics market.
Multiple Sclerosis Drugs Market Top Player’s Company Profiles
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Biogen Inc. (United States)
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Roche Holdings AG (Switzerland)
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Novartis AG (Switzerland)
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Sanofi S.A. (France)
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Merck & Co., Inc. (United States)
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Teva Pharmaceutical Industries Ltd. (Israel)
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Bayer AG (Germany)
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Pfizer Inc. (United States)
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GlaxoSmithKline plc (United Kingdom)
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AbbVie Inc. (United States)
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Johnson & Johnson Services, Inc. (United States)
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Celgene Corporation (United States)
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Bristol-Myers Squibb Company (United States)
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Mitsubishi Tanabe Pharma Corporation (Japan)
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Biogen Idec International GmbH (Switzerland)
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Genzyme Corporation (United States)
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F. Hoffmann-La Roche Ltd (Switzerland)
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Merck KGaA (Germany)
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Mylan N.V. (United States)
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Eisai Co., Ltd. (Japan)
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Takeda Pharmaceutical Company Limited (Japan)
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Ipsen (France)
Multiple Sclerosis Drugs Market Recent Developments
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In August 2023 Sandoz, one of a global leader in generic and biosimilar medicines, announced that the US Food and Drug Administration (FDA) has approved its biosimilar Tyruko, developed by Polpharma Biologics. Tyruko is approved to treat all indications covered by the reference medicine and is the first and only FDA-approved biosimilar for relapsing forms of multiple sclerosis (MS).
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In Jan 2023 FDA has approved ublituximab-xiiy (Briumvi; TG Therapeutics Inc) for the treatment of relapsing multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults.
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In December 2022 U.S. Food and Drug Administration (FDA) approved Briumvi (ublituximab), a disease-modifying therapy (DMT) to treat relapsing forms of multiple sclerosis (RMS) in adults, including clinically isolated syndrome, relapsing-remitting MS, and active secondary-progressive MS.
Multiple Sclerosis Drugs Key Market Trends
- Development of Disease-Modifying Therapies : Disease-modifying therapies (DMTs) play a critical role in managing MS by reducing relapse rates, delaying disease progression, and preserving neurological function. The market has witnessed the development of newer and more effective DMTs, such as monoclonal antibodies and oral therapies, with improved efficacy and safety profiles. The focus on developing DMTs continues to drive the market, providing patients with more options for disease management.
Multiple Sclerosis Drugs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global multiple sclerosis (MS) drugs market has experienced significant growth and is expected to continue expanding in the coming years. The global multiple sclerosis drugs market is characterized by significant growth, driven by factors such as increasing prevalence, advancements in drug development, and expanding treatment options. The affordability and accessibility of expensive MS drugs remain key concerns, particularly in regions with lower healthcare budgets or inadequate insurance coverage. Safety concerns and potential adverse effects impact treatment decisions and patient adherence. The market is expected to witness further growth with the focus on personalized medicine, advancements in drug delivery systems, and ongoing research efforts to address the unmet needs of patients with progressive forms of MS. Addressing challenges related to cost, regulation, and safety will be crucial for sustained market growth and improved patient outcomes.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 24.64 Billion |
| Market size value in 2031 | USD 32.43 Billion |
| Growth Rate | 3.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Multiple Sclerosis Drugs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Multiple Sclerosis Drugs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Multiple Sclerosis Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Multiple Sclerosis Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Multiple Sclerosis Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Multiple Sclerosis Drugs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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