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

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.