Multiple Sclerosis Therapeutics Market to Grow at a CAGR of 6.5% to reach US$ 39,223.59 Million from 2020 to 2027

The Multiple Sclerosis Therapeutics Market was valued at US$ 24,026.90 million in 2019 and it is projected to reach US$ 39,223.59 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027.

Multiple sclerosis (MS) is an autoimmune disease affecting the central nervous system. The immune system attacks the nerves, which causes communication problems between the brain and rest of the body. Immunosuppressant and immunomodulators, along with physiotherapy, are widely used to treat MS.

The scope of the multiple sclerosis therapeutics market includes drug class, route of administration, distribution channel, and region. The market for multiple sclerosis therapeutics is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the multiple sclerosis therapeutics market emphasizing on various parameters, such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the globe.  

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Multiple Sclerosis Therapeutics Market: Strategic Insights

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Market Insights

Growing Prevalence of Multiple Sclerosis

Multiple sclerosis is a chronic disease that affects the brain, spinal cord, and optic nerves. The symptoms of multiple sclerosis include weakness, anxiety, abnormality of taste, reduced sensation, and blurred vision or vision loss. Some of the other signs are constipation, muscle stiffness, depression, thinking problems, and urinary problems.

Studies suggest that there is an increase in prevalence of multiple sclerosis across the globe. For instance, as per the National Multiple Sclerosis Society’s study in 2017, about 1 million adults (up to 913,925) were living with MS in the US. In 2010, estimated prevalence of the disease was 309 cases per 100,000 people, that is, there were 727,344 adults suffering from MS. Additionally, as per the Government of Canada, (2014–2015 estimates) over 77,000 Canadians are living with multiple sclerosis of which 3/4th are women.

Further, the Multiple Sclerosis Society estimated that about 110,000 people were suffering from the condition in the UK in 2018. It also mentioned that MS is more than twice prevalent in females than males. The number of new patients diagnosed per year is also increasing; it increased from 5,000 in 2017 to 6,700 in 2018.

Therefore, growing prevalence of multiple sclerosis is driving the multiple sclerosis therapeutics market.

Drug Class Based Insights                                

Based on multiple sclerosis therapeutics drug class, the multiple sclerosis therapeutics market is segmented into immunosuppressant and immunomodulators. In 2019, the immunomodulators segment accounted for larger share of the market. Growth of this segment is attributed to launch of new generic drugs and increase in adoption of immunomodulators in MS treatment. The immunosuppressant segment is likely to register higher CAGR during the forecast period. 

Route of Administration Based Insights

In terms of route of administration, the multiple sclerosis therapeutics market is segmented into injectable and oral. The injectable segment held larger share of the market in 2019, and same segment is anticipated to register higher CAGR during the forecast period.  

Distribution Channel Based Insights

Based on distribution channel, the multiple sclerosis therapeutics market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment held the largest share of the market in 2019, and the e-commerce segment is anticipated to register the highest CAGR in the market during the forecast period.

COVID-19 pandemic has become the most significant challenge across the world. This challenge will be frightening especially in developing countries across the globe as it will lead to reducing imports due to disruptions in global trade. Till date no definitive treatment against COVID 19 has been established. Patients with severe health conditions, such as neurological diseases and others; are witnessing delays in such chronic disease treatment. Supply chain disruptions associated with this pandemic situation will ultimately affect the sales of products for short period. However, the supply of MS drugs has been continuous in the pandemic as pharmacies are allowed to open during the lock down. Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic. For instance, Bristol-Myers Squibb delayed the launch of its multiple-sclerosis drug Zeposia (ozanimod) due to the outbreak of COVID-19 pandemic.

Product launches and expansion strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are commonly adopted by the market players in order to expand its product portfolio.

The market players operating in the Multiple Sclerosis Therapeutics Market adopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

Multiple Sclerosis Therapeutics Market Regional Insights

The regional trends and factors influencing the Multiple Sclerosis Therapeutics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Multiple Sclerosis Therapeutics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Multiple Sclerosis Therapeutics Market Report Scope

Multiple Sclerosis Therapeutics Market Players Density: Understanding Its Impact on Business Dynamics

The Multiple Sclerosis Therapeutics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Multiple Sclerosis Therapeutics Market are:

1. Merck & Co., Inc.
2. Novartis AG
3. Bayer AG
4. Sanofi
5. Bristol-Myers Squibb Company

Disclaimer: The companies listed above are not ranked in any particular order.

By Drug Class

• Immunosuppressant
• Immunomodulators

By Route of Administration                          

• Injectable
• Oral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of South America

Company Profiles

• Merck & Co., Inc.                                 
• Novartis AG                                        
• Bayer AG     
• Sanofi         
• Bristol-Myers Squibb Company               
• Horizon Therapeutics plc.                       
• TEVA PHARMACEUTICAL INDUSTRIES LTD      
• Takeda Pharmaceutical Company Limited      
• F. HOFFMANN-LA ROCHE LTD.                
• Biogen