Multiple Sclerosis Market Size, Share, Growth Analysis, By Drug type(Immunomodulators, and Immunosuppressant), By Route of Administration(Injectables, Oral, and Others), By Diagnosis(Magnetic Resonance Imaging (MRI) Scans, Simple Electrical Stimulation Tests, and Lumbar Puncture), By Region - Industry Forecast 2024-2031

Global Multiple Sclerosis Market size was valued at USD 25.45 billion in 2022 and is poised to grow from USD 26.04 billion in 2023 to USD 30.55 billion by 2031, growing at a CAGR of 2.31% in the forecast period (2024-2031).

Multiple sclerosis (MS) is an immune-mediated illness that affects the central nervous system. Its defining traits include demyelination, inflammation, degenerative processes such as increased brain and spinal cord atrophy, and neuroaxonal loss. Monoclonal antibodies are being used to treat multiple sclerosis. Using these antibodies, various clinical trials are being done to develop novel multiple sclerosis drugs. Furthermore, most immunosuppressive drugs used to treat this disease are humanized monoclonal antibodies, which are in high demand worldwide. Multiple sclerosis diagnosis and therapy are becoming increasingly important worldwide as the disease's prevalence rises. As a result, the government actively promotes the multiple sclerosis treatment process.

Multiple sclerosis symptoms vary widely depending on the severity of the damage and the number of affected neurons. Fatigue, numbness, stiffness, urine incontinence, cognitive issues, emotional difficulties, and sorrow are among the symptoms that have been reported. The rise of the multiple sclerosis drug industry can be attributed to main market participants' increased emphasis on R&D to develop novel medications. Along with growing research effort, various research agreements between pharmaceutical companies and academic institutes have boosted the market for multiple sclerosis medicines even more.