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

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). 

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)'

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.

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.

Due to the significant presence of major players and the rising prevalence of multiple sclerosis, North America currently controls the majority of the 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.