Growing Prevalence of Multiple Sclerosis Boosts the Global Multiple Sclerosis Treatment Market

The cases of multiple sclerosis are increasing rapidly globally. According to the National Multiple Sclerosis Society, multiple sclerosis affects around 1 million people in the U.S. and 2.3 million worldwide. Every year, the number of people diagnosed with multiple sclerosis increases, demanding the need for newer medications that are more effective and have less side effects. Governments and non-government organizations in developed and developing countries are putting their efforts to increase the awareness of multiple sclerosis and that more and more research activities should be conducted.    

Data Bridge Market Research analyses that the Global Multiple Sclerosis Treatment Market was valued at USD 25.38 billion in 2021 and is expected to reach USD 34.73 billion by 2029, registering a CAGR of 4.00% during the forecast period of 2022 to 2029. The increasing demand for the multiple sclerosis treatment will provide potential opportunities for the market growth in the forecast period.

The increasing number of multiple sclerosis is anticipated to drive the market's growth rate

There is an increasing burden of multiple sclerosis across the world which demands better treatment for fast recovery because of which increasing incidence of multiple sclerosis is boosting the demand of the market. In multiple sclerosis, the treatment primarily focuses on fast recovery, slowing the disease's progression and decreasing the symptoms of multiple sclerosis.

For instance,

• As per the National Multiple Sclerosis Society, in the U.S., approximately 1 million people are witnessed to be suffering with multiple sclerosis.

Report Scope and Market Segmentation

Segment Analysis:  

Global multiple sclerosis treatment market is categorized into six notable segments which are based on  type, drug class, treatment, diagnosis, route of administration, end-users and distribution channel. .

• On the basis of type, the global multiple sclerosis treatment market is segmented into relapsing–remitting multiple sclerosis (RRMS), secondary progressive multiple sclerosis (SPMS), primary progressive multiple sclerosis (PPMS) and severe relapsing–remitting multiple sclerosis (RES).

The relapsing–remitting multiple sclerosis (RRMS) segment of type is anticipated to dominate the multiple sclerosis treatment market

The relapsing–remitting multiple sclerosis (RRMS) segment is dominating the multiple sclerosis treatment market with the market share of 80.06% because relapsing–remitting multiple sclerosis (RRMS) seemed to witness the highest prevalence rate.

• On the basis of treatment, the global multiple sclerosis treatment market is segmented into symptomatic therapies, abortive therapies/treatment of acute exacerbations and preventive therapies.

The preventive therapies segment of treatment type is anticipated to dominate the multiple sclerosis treatment market

The preventive therapies segment is dominating the multiple sclerosis treatment market with the market share of 80.06% due to high R&D expenditure by major market players.

• On the basis of diagnosis, the global multiple sclerosis treatment market is segmented into magnetic resonance imaging (MRI), simple electrical stimulation tests, lumbar puncture, others.
• On the basis of drug class, the global multiple sclerosis treatment market is segmented into immunomodulators, immunosuppressants, interferons, others
• On the basis of route of administration, the global multiple sclerosis treatment market is segmented into oral and parenteral. The oral segment is dominating the multiple sclerosis treatment market with the market share of 80.06% because of the large number of medication that are widely available in oral dosage form that promotes patient satisfaction and increases therapeutic compliance.
• On the basis of end user, the global multiple sclerosis treatment market is segmented into hospital, specialty centers, homecare and others. The hospital segment is dominating the multiple sclerosis treatment market with the market share of 80.06% because of the presence of skilled professionals and advanced technology for the diagnosis.
• On the basis of distribution channel, the global multiple sclerosis treatment market is segmented into direct tender and retail sales. The retail sales segment is dominating the multiple sclerosis treatment market with the market share of 80.06% due to the large number of products available as per the patient requirement

Major Players

Data Bridge Market Research recognizes the following companies as the major multiple sclerosis treatment market players in multiple sclerosis treatment market are AbbVie Inc. (U.S.), Bausch Health Companies Inc. (Canada), Biora Therapeutics, Inc (U.S.), Boehringer Ingelheim International Gmbh (Germany), Amgen Inc. (U.S.), Pfizer Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (U.S.), Novartis AG (Switzerland)., Bayer AG (Germany), Bristol Myers Squibb Company (U.S.), Biogen (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc (U.K.), Abbott (U.S.), Bio-Rad Laboratories Inc. (U.S.), Mylan N.V. (U.S.).

Market Development

• In 2020, Novartis announced the launch of Kesimpta (ofatumumab) will U.S. FDA approval. It is the first and only self-administered, targeted B-cell therapy for people who are suffering from relapsing multiple sclerosis.
• In 2020, Genzyme Corporation acquired Principia Biopharma Inc., a company which is engaged in developing treatment solutions for immune-mediated disease. This acquisition assisted the company in increasing its research activities in the field of multiple sclerosis and other immune-mediated diseases.
• In 2020, T.G. Therapeutics, Inc., announced the Positive Results from the ULTIMATE I & II Phase 3 Trials of Ublituximab in Multiple sclerosis. The research was carried out under a Special Protocol Assessment (SPA) arrangement with the Food and Drug Administration of the United States (FDA).

Regional Analysis

Geographically, the countries covered in the multiple sclerosis treatment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in multiple sclerosis treatment market during the forecast period 2022 to 2029

North America dominates the multiple sclerosis treatment market because of the increased research and development and long-term expiration date of the products, which are anticipated to further improve the market's growth rate in this region.  

Asia-Pacific is estimated to be the fastest growing region in multiple sclerosis treatment market the forecast period 2022 to 2029

Asia-Pacific is expected to grow from 2022 to 2029 because of the rapid development of medical facilities in developing economies. An increase in the incidence of multiple sclerosis and growing population of girls are expected to boost the market's growth rate in this region.

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