The global multiple sclerosis drugs market size was estimated to be USD 23.47 billion in 2023 and is expected to reach at USD 47.95 billion by 2034 with a CAGR of 6.71% during the forecast period 2024-2034. Increasing prevalence multiple sclerosis, rising demand for effective diagnosis & treatment of multiple sclerosis, surge in governments support for the treatment of multiple sclerosis, growing focus on research & development activities to formulate innovative drugs, increasing product launches, rising investment by major market players, surge in number of clinical trial procedures, growing government initiatives on spreading awareness regarding the disease & its effective treatment, and increasing approval of novel drugs for multiple sclerosis are some of the key factors boosting the market growth.
Increasing approval of novel drugs for multiple sclerosis is predicted to boost the market growth during the forecast period. Multiple sclerosis (MS) is a persistent immune-mediated condition characterized by inflammation, which impacts nerve cells in the brain and spinal cord, resulting in demyelination, axonal damage, and neurological deterioration. MS is recognized as a prominent contributor to disability in people. While there is presently no cure for MS, there exist several therapies to effectively control the condition and decelerate its advancement. As a result, industry participants are concentrating on creating innovative drug therapies for multiple sclerosis. For instance, in March 2023, The Briumvi drug from TG Therapeutics Inc. has received approval from the Food and Drug Administration (FDA) for the treatment of patients with relapsing multiple sclerosis.
By drug class, immunomodulators was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the availability of treatment options within immunomodulators, rising new product launches for the disease treatment, and increasing demand for immunomodulatory drugs for MS treatment. Additionally, others is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of molecular antibodies treatments for reducing relapses & inflammation in MS patients, increasing research & development activities, rising regulatory approval of new drugs. For instance, in December 2022, Ublituximab, a disease-modifying therapy (DMT), has gained approval from the U.S. Food and Drug Administration (FDA) for the management of relapsing multiple sclerosis (RMS) in adults. This encompasses clinically isolated syndrome, active secondary-progressive MS, and relapsing-remitting MS.
By route of administration, injection was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the increase in approvals for multiple sclerosis drugs administered via subcutaneous injections for treating the disease and growing focus on development of new drugs. For instance, in August 2023, Viatris Inc. and Mapi Pharma Ltd. have disclosed that the U.S. Food and Drug Administration (FDA) is now reviewing the New Drug Application (NDA) they recently submitted for GA Depot 40 mg. This medication, a long-lasting glatiramer acetate, is under investigation as a monthly injection therapy for treating relapsing forms of multiple sclerosis (RMS). Additionally, oral is predicted to grow at fastest CAGR during the forecast period owing to the launch of new products and growing preference of oral drugs.
By distribution channel, hospital pharmacy was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the increasing favorable reimbursement in healthcare sector, rising governmental initiatives to bolster the pharmaceutical services in public hospitals, and growing emphasis on the introduction of new pharmaceutical drugs. For instance, in February 2022, Teva Pharmaceuticals Europe BV has verified that the Summary of Product Characteristics (SmPC) for COPAXONE (Glatiramer Acetate (GA) injection) at both 20mg/mL and 40mg/mL strengths, which is used for treating relapsing forms of multiple sclerosis (RMS) in Europe, has undergone an update. Additionally, online pharmacy is predicted to grow at fastest CAGR during the forecast period owing to the proliferation of online platforms dispensing prescription medications and rising demand for the home delivery of medications.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising investment by major market players, surge in new product launches, and growing research & development activities. For instance, in October 2023, Genentech, a part of the Roche Group, is set to share fresh information regarding Ocrevus (ocrelizumab), as well as the experimental Bruton’s tyrosine kinase (BTK) inhibitor known as fenebrutinib, in relation to multiple sclerosis (MS). Additionally, they will provide updates on Enspryng (satralizumab) for the treatment of neuromyelitis optica spectrum disorder (NMOSD). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in government awareness initiatives regarding the disease, increasing demand for immunosuppressant & molecular antibody drugs, and rising approvals by regulatory bodies. For instance, in August 2023, Sandoz has revealed that the biosimilar Tyruko (natalizumab-sztn), developed by Polpharma Biologics, has received approval from the US Food and Drug Administration (FDA). Tyruko is authorized for all the same uses as the reference medication and stands as the sole FDA-approved biosimilar for the treatment of relapsing forms of multiple sclerosis (MS).
Increasing approval of novel drugs for multiple sclerosis is predicted to boost the market growth during the forecast period. Multiple sclerosis (MS) is a persistent immune-mediated condition characterized by inflammation, which impacts nerve cells in the brain and spinal cord, resulting in demyelination, axonal damage, and neurological deterioration. MS is recognized as a prominent contributor to disability in people. While there is presently no cure for MS, there exist several therapies to effectively control the condition and decelerate its advancement. As a result, industry participants are concentrating on creating innovative drug therapies for multiple sclerosis. For instance, in March 2023, The Briumvi drug from TG Therapeutics Inc. has received approval from the Food and Drug Administration (FDA) for the treatment of patients with relapsing multiple sclerosis.
By drug class, immunomodulators was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the availability of treatment options within immunomodulators, rising new product launches for the disease treatment, and increasing demand for immunomodulatory drugs for MS treatment. Additionally, others is predicted to grow at fastest CAGR during the forecast period owing to the growing adoption of molecular antibodies treatments for reducing relapses & inflammation in MS patients, increasing research & development activities, rising regulatory approval of new drugs. For instance, in December 2022, Ublituximab, a disease-modifying therapy (DMT), has gained approval from the U.S. Food and Drug Administration (FDA) for the management of relapsing multiple sclerosis (RMS) in adults. This encompasses clinically isolated syndrome, active secondary-progressive MS, and relapsing-remitting MS.
By route of administration, injection was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the increase in approvals for multiple sclerosis drugs administered via subcutaneous injections for treating the disease and growing focus on development of new drugs. For instance, in August 2023, Viatris Inc. and Mapi Pharma Ltd. have disclosed that the U.S. Food and Drug Administration (FDA) is now reviewing the New Drug Application (NDA) they recently submitted for GA Depot 40 mg. This medication, a long-lasting glatiramer acetate, is under investigation as a monthly injection therapy for treating relapsing forms of multiple sclerosis (RMS). Additionally, oral is predicted to grow at fastest CAGR during the forecast period owing to the launch of new products and growing preference of oral drugs.
By distribution channel, hospital pharmacy was the highest revenue-grossing segment in the global multiple sclerosis drugs market in 2023 owing to the increasing favorable reimbursement in healthcare sector, rising governmental initiatives to bolster the pharmaceutical services in public hospitals, and growing emphasis on the introduction of new pharmaceutical drugs. For instance, in February 2022, Teva Pharmaceuticals Europe BV has verified that the Summary of Product Characteristics (SmPC) for COPAXONE (Glatiramer Acetate (GA) injection) at both 20mg/mL and 40mg/mL strengths, which is used for treating relapsing forms of multiple sclerosis (RMS) in Europe, has undergone an update. Additionally, online pharmacy is predicted to grow at fastest CAGR during the forecast period owing to the proliferation of online platforms dispensing prescription medications and rising demand for the home delivery of medications.
North America region is anticipated for the highest revenue share during the forecast period owing to the rising investment by major market players, surge in new product launches, and growing research & development activities. For instance, in October 2023, Genentech, a part of the Roche Group, is set to share fresh information regarding Ocrevus (ocrelizumab), as well as the experimental Bruton’s tyrosine kinase (BTK) inhibitor known as fenebrutinib, in relation to multiple sclerosis (MS). Additionally, they will provide updates on Enspryng (satralizumab) for the treatment of neuromyelitis optica spectrum disorder (NMOSD). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the surge in government awareness initiatives regarding the disease, increasing demand for immunosuppressant & molecular antibody drugs, and rising approvals by regulatory bodies. For instance, in August 2023, Sandoz has revealed that the biosimilar Tyruko (natalizumab-sztn), developed by Polpharma Biologics, has received approval from the US Food and Drug Administration (FDA). Tyruko is authorized for all the same uses as the reference medication and stands as the sole FDA-approved biosimilar for the treatment of relapsing forms of multiple sclerosis (MS).
Segmentation: Multiple Sclerosis Drugs Market Report 2023 - 2034
Multiple Sclerosis Drugs Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)
- Immunosuppressants
- Immunomodulators
- Interferons
- Others
- Antineoplastics
- Molecular Antibody
Multiple Sclerosis Drugs Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Oral
- Injection
- Subcutaneous
- Intramuscular
- Intravenous
Multiple Sclerosis Drugs Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Multiple Sclerosis Drugs Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Multiple Sclerosis Drugs Market: Drug Class Estimates & Trend Analysis
8. Multiple Sclerosis Drugs Market: Route of Administration Estimates & Trend Analysis
9. Multiple Sclerosis Drugs Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Multiple Sclerosis Drugs Market
12. Europe Global Multiple Sclerosis Drugs Market
13. Asia Pacific Global Multiple Sclerosis Drugs Market
14. Latin America Global Multiple Sclerosis Drugs Market
15. MEA Global Multiple Sclerosis Drugs Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Teva Pharmaceutical Industries Ltd.
- Bristol-Myers Squibb Company
- Pfizer Inc.
- Sanofi
- F. Hoffmann-La Roche Ltd.
- Merck KGAA
- Biogen
- Sandoz
- ABBVIE Inc.
- Novartis Ag
- Bayer Ag.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 23.47 Billion |
| Forecasted Market Value ( USD | $ 47.95 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
