North America Multiple Sclerosis Therapeutics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Drug Class, Route of Administration, and Distribution Channel

The immunosuppressants segment by drug class is estimated to lead the market growth during the forecast period.

According to this study, the North America multiple sclerosis therapeutics market is expected to reach US$ 15,269.74 million by 2027 from US$ 9,144.98 million in 2019; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027. The report highlights trends prevailing in the North America multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances.

The North America multiple sclerosis therapeutics market, by drug class, is segmented into immunosuppressant and immunomodulators. The immunomodulators segment held the largest share of the market in 2019, whereas the immunosuppressants segment is anticipated to register the highest CAGR in the market during the forecast period.

As per the National Multiple Sclerosis Society’s study in 2017, about 1 million adults (up to 913,925) were suffering from MS in the US. Therefore, the growing prevalence of multiple sclerosis is driving the growth of the North America multiple sclerosis therapeutics market. Due to rise in funding, extensive research is being carried on developing novel medicines and treatments for multiple sclerosis and other ways of identifying potential causes for multiple sclerosis. Various organizations such as National Institute of Neurological Disorders and Stroke, National MS Society, and Parkinson’s Action Network are undertaking extensive efforts to create novel therapies for MS, which is driving the growth of the market.

North America is recording the growing number of COVID-19 cases. Patients suffering from chronic health conditions, such as neurological diseases, are reporting delays in treatment. Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic. However, amid pandemic, many companies and research institutes in the US are taking an initiative to study the neurological manifestations of COVID-19. To accelerate research into the diagnosis, prevention, and treatment of the neurological complications due to COVID-19, several initiatives have been initiated. These factors are positively influencing the North America multiple sclerosis therapeutics market to a extent.

The growth of the market is attributed to some key driving factors such as increasing prevalence of multiple sclerosis and rise in funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment may hinder the market growth.

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, and Biogen are among the leading companies operating in the North America multiple sclerosis therapeutics market.

The report segments in North America Multiple Sclerosis Therapeutics Market as follows:

By Drug Class

• Immunosuppressant
• Immunomodulators

By Route of Administration

• Injectable
• Oral

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-Commerce

By Country

• US
• Canada
• Mexico