What is the global market size of Multiple Sclerosis Drugs Market?

Multiple Sclerosis Drugs Market size was valued at USD 24.64 Billion in 2022 and is poised to grow from USD 25.40 Billion in 2023 to USD 32.43 Billion by 2031, at a CAGR of 3.10% during the forecast period (2024-2031).

What is the key driver of Global Multiple Sclerosis Drugs Market?

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.

What is the key market trend for Global Multiple Sclerosis Drugs Market?

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.

Which region accounted for the largest share in Global Multiple Sclerosis Drugs Market?

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.

Multiple Sclerosis Drugs Companies

Q: Who are the key vendors in the Global Multiple Sclerosis Drugs Market?

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. 'Biogen Inc. (United States)', 'Roche Holdings AG (Switzerland)', 'Novartis AG (Switzerland)', 'Sanofi S.A. (France)', 'Merck & Co., Inc. (United States)', 'Teva Pharmaceutical Industries Ltd. (Israel)', 'Bayer AG (Germany)', 'Pfizer Inc. (United States)', 'GlaxoSmithKline plc (United Kingdom)', 'AbbVie Inc. (United States)', 'Johnson & Johnson Services, Inc. (United States)', 'Celgene Corporation (United States)', 'Bristol-Myers Squibb Company (United States)', 'Mitsubishi Tanabe Pharma Corporation (Japan)', 'Biogen Idec International GmbH (Switzerland)', 'Genzyme Corporation (United States)', 'F. Hoffmann-La Roche Ltd (Switzerland)', 'Merck KGaA (Germany)', 'Mylan N.V. (United States)', 'Eisai Co., Ltd. (Japan)', 'Takeda Pharmaceutical Company Limited (Japan)', 'Ipsen (France)'

Multiple Sclerosis Drugs Market Competitive Landscape

Multiple Sclerosis Drugs Market Top Player’s Company Profiles

Biogen Inc. (United States)
Roche Holdings AG (Switzerland)
Novartis AG (Switzerland)
Sanofi S.A. (France)
Merck & Co., Inc. (United States)
Teva Pharmaceutical Industries Ltd. (Israel)
Bayer AG (Germany)
Pfizer Inc. (United States)
GlaxoSmithKline plc (United Kingdom)
AbbVie Inc. (United States)
Johnson & Johnson Services, Inc. (United States)
Celgene Corporation (United States)
Bristol-Myers Squibb Company (United States)
Mitsubishi Tanabe Pharma Corporation (Japan)
Biogen Idec International GmbH (Switzerland)
Genzyme Corporation (United States)
F. Hoffmann-La Roche Ltd (Switzerland)
Merck KGaA (Germany)
Mylan N.V. (United States)
Eisai Co., Ltd. (Japan)
Takeda Pharmaceutical Company Limited (Japan)
Ipsen (France)

Multiple Sclerosis Drugs Market

FAQs

Global Multiple Sclerosis Drugs Market size was valued at USD 25.40 billion in 2022 and is poised to grow from USD 26.19 billion in 2023 to USD 32.42 billion by 2031, at a CAGR of 3.10% during the forecast period (2024-2031).

The multiple sclerosis drugs industry is highly competitive, characterized by leading pharmaceutical companies that are constantly innovating and expanding their businesses. These companies are developing advanced disease modifying therapies (DMTs), generations of their vaccines, neuroprotective drugs to strengthen their market position. Competitive advantage focuses on pharmaceutical manufacturing as well. It is being shaped to gain market share in this growing segment through R&D efforts, strategic collaboration and marketing. 'Biogen Inc. (United States) ', 'Roche Holdings AG (Switzerland) ', 'Novartis AG (Switzerland) ', 'Sanofi S.A. (France) ', 'Merck & Co., Inc. (United States) ', 'Teva Pharmaceutical Industries Ltd. (Israel) ', 'Bayer AG (Germany) ', 'Pfizer Inc. (United States) ', 'GlaxoSmithKline plc (United Kingdom) ', 'AbbVie Inc. (United States) ', 'Johnson & Johnson Services, Inc. (United States) ', 'Celgene Corporation (United States) ', 'Bristol-Myers Squibb Company (United States) ', 'Mitsubishi Tanabe Pharma Corporation (Japan) ', 'Biogen Idec International GmbH (Switzerland) ', 'Genzyme Corporation (United States) ', 'F. Hoffmann-La Roche Ltd (Switzerland) ', 'Merck KGaA (Germany) ', 'Mylan N.V. (United States) ', 'Eisai Co., Ltd. (Japan) ', 'Takeda Pharmaceutical Company Limited (Japan) ', 'Ipsen (France) '

The increasing prevalence of multiple sclerosis (MS) across the globe is a major driver of the multiple sclerosis drugs industry. According to the National Multiple Sclerosis Society, 2.8 million people worldwide have MS, and this number continues to rise, especially in the developed world. This growing number of patients requires new therapies to manage disease progression.

Rise in Personalized Medicine and Biomarker-based Therapy: One of the most important trends in the market is the shift towards personalized medicine. Advances in genetics and molecular biology allow the identification of biomarkers that can predict disease progression and treatment outcomes. This multiple sclerosis drugs market trend is driving the development of treatments tailored to meet the specific needs of individual patients.

As per multiple sclerosis drugs market outlook, North America dominated the market in 2023. In addition, governments in the region are actively taking steps to raise awareness about MS treatment and diagnosis. The multiple sclerosis drugs market in the U.S. dominated the North America region with a share of 80.8% in 2023 due to the increased awareness leading to early detection of disease. According to the National Multiple Sclerosis Society, almost one million people in the U.S. were diagnosed with this condition in 2019. This underscores the rising prevalence of the disorder in the U.S.

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What is the global market size of Multiple Sclerosis Drugs Market?

Who are the key vendors in the Multiple Sclerosis Drugs Market?

What is the key driver of Multiple Sclerosis Drugs Market?

What is the key market trend for Multiple Sclerosis Drugs Market?

Which region accounted for the largest share in Multiple Sclerosis Drugs Market?

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