Global Multiple Sclerosis Market, By Type (Clinically isolated syndrome (CIS), Relapse-remitting MS (RRMS), Primary progressive MS (PPMS), Secondary progressive MS (SPMS)), Treatment (Medications, Stem Cell Therapy, Physical Therapy, Plasma Exchange, Others), Drug Class (Immunomodulators, Immunosuppressants, Interferons, Others), Diagnosis (Magnetic Resonance Imaging (MRI), Simple Electrical Stimulation Tests, Lumbar Puncture, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029.
Global Multiple Sclerosis Market Analysis and Size
In recent years, the multiple sclerosis market is anticipated to grow rapidly during the forecast period. Multiple sclerosis affects about 1 million people in the United States and 2.3 million people globally, according to the National Multiple Sclerosis Society. Each year, the number of people diagnosed with multiple sclerosis rises, necessitating the development of new medications that are more effective and have fewer side effects. Governments and non-government organizations in developed and developing countries are increasing their efforts to raise awareness of multiple sclerosis and giving significant funds for drug research and development.
- Data Bridge Market Research analyses that the multiple sclerosis market was valued at USD 25.32 billion in 2021 and is expected to reach USD 33.98 billion by 2029, registering a CAGR of 3.75% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Multiple Sclerosis Market Definition
Multiple sclerosis (MS) is a chronic inflammatory immune-mediated disease that affects nerve cells in the spinal cord and brain, causing demyelination, axonal transection, and neurodegeneration. Injectable, oral, and infused medications, muscle relaxants, antidepressants, and physical therapy are some of the most widely utilized therapies. Interferon-beta and glatiramer acetate are injectable therapies that are given under the skin or into the muscle; oral medications include teriflunomide, dimethyl fumarate, and cladribine; and intravenous infusion treatments include ocrelizumab, alemtuzumab and natalizumab.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Clinically isolated syndrome (CIS), Relapse-remitting MS (RRMS), Primary progressive MS (PPMS), Secondary progressive MS (SPMS)), Treatment (Medications, Stem Cell Therapy, Physical Therapy, Plasma Exchange, Others), Drug Class (Immunomodulators, Immunosuppressants, Interferons, Others), Diagnosis (Magnetic Resonance Imaging (MRI), Simple Electrical Stimulation Tests, Lumbar Puncture, Others), Route of Administration (Oral, Parenteral, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
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Countries Covered
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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
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Market Players Covered
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F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd.(Jerusalem), Sanofi (France), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), Bayer AG (Germany), Eli Lilly and Company (US), Merck & Co., Inc. (US), Allergan (Ireland), AstraZeneca (UK), Johnson & Johnson Private Limited (US), Cipla Inc. (US), Abbott (US), AbbVie Inc. (US), Merck KGaA (Germany), Actelion Pharmaceuticals Ltd (Switzerland), Opexa Therapeutics, Inc. (US), Bayer AG (Germany)
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Market Opportunities
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Multiple Sclerosis Market Dynamics
Drivers
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Increasing Prevalence of Multiple Sclerosis
The rising prevalence of multiple sclerosis is a primary driver of the multiple sclerosis market's growth. Relapsing-remitting multiple sclerosis (RRMS), primary-progressive MS (PPMS), secondary-progressive MS (SPMS) and progressive-relapsing MS (PRMS) are the types of multiple sclerosis and their high prevalence rate will influence the market dynamics during the forecast period.
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Increasing Investment for Healthcare Infrastructure
Another significant factor influencing the growth rate of multiple sclerosis market is the rising healthcare expenditure which helps in improving its infrastructure.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the multiple sclerosis market. Additionally, high disposable income and increase in the development of innovative monoclonal antibodies, immunosuppressants, immunomodulators and interferons will result in the expansion of multiple sclerosis market. Along with this, rising geriatric population and continuously changing lifestyle will enhance the growth rate of the market.
Opportunities
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the multiple sclerosis market growth. Along with this, rising drug approvals and launches will further propel the market’s growth rate.
Moreover, rising investment for the development of advanced technologies and increase in the number of emerging markets will further provide beneficial opportunities for the multiple sclerosis market growth during the forecast period.
Restraints/Challenges Global Multiple Sclerosis Market
On the other hand, the high cost associated with the treatment of multiple sclerosis will obstruct the growth rate of market. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the multiple sclerosis market. Additionally, a decline in clinical visits due to COVID0-19 outbreak and lack of awareness among people will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This multiple sclerosis market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the multiple sclerosis market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Multiple sclerosis market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Multiple Sclerosis Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. Due to the financial crisis and the delay in specialty healthcare delivery while prioritizing COVID-19-related treatments, healthcare systems around the world have been severely disrupted in the aftermath of the coronavirus pandemic. Patients were unable to see their controls for a variety of reasons, including difficulty accessing a doctor, fear of infection transmission, inability to continue therapies and essential procedures due to pandemic restrictions. Such considerations may have a negative impact on the market of multiple sclerosis in recent months.
Recent Development
- In August 2020, Novartis had announced the launch of Kesimpta (ofatumumab) will U.S. Food and Drug Administration (FDA) approval. It is the first and only self-administered, targeted B-cell therapy for the people suffering from relapsing multiple sclerosis. Kesimpta combines potent efficacy with an acceptable safety profile and can be self-administered at home, filling a critical gap in the treatment of replasing forms of multiple sclerosis (RMS).
Global Multiple Sclerosis Market Scope
The multiple sclerosis market is segmented on the basis of type, drug class, treatment, diagnosis, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Clinically isolated syndrome (CIS)
- Relapse-remitting MS (RRMS)
- Primary progressive MS (PPMS)
- Secondary progressive MS (SPMS)
On the basis of type, the multiple sclerosis market is segmented into clinically isolated syndrome (CIS), relapse-remitting MS (RRMS), primary progressive MS (PPMS), and secondary progressive MS (SPMS).
Treatment
- Medications
- Stem Cell Therapy
- Physical Therapy
- Plasma Exchange
- Others
On the basis of treatment, the global multiple sclerosis market is segmented into medication, stem cell therapy, physical therapy, plasma exchange and others. Medication segment is further segmented into injectable therapies, oral medications and intravenous infusion treatments. Injectable therapies are sub-segmented into interferon-beta and glatiramer acetate. Oral medications are sub-segmented into dimethyl fumarate, teriflunomide, and cladribine. Intravenous infusion treatments are sub-segmented into ocrelizumab, natalizumab, and alemtuzumab.
Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
On the basis of drug class, the global multiple sclerosis market is segmented into immunomodulators, immunosuppressants, interferons and others.
Diagnosis
- Magnetic Resonance Imaging (MRI)
- Simple Electrical Stimulation Tests
- Lumbar Puncture
- Others
On the basis of diagnosis, the global multiple sclerosis market is segmented into magnetic resonance imaging (MRI), simple electrical stimulation tests, lumbar puncture and others.
Route of Administration
- Oral
- Parenteral
- Others
The route of administration segment for the multiple sclerosis market is segmented into oral, parenteral and others.
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
On the basis of end-users, the multiple sclerosis market is segmented into hospitals, specialty clinics, homecare and others.
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
On the basis of distribution channel, the multiple sclerosis market has also been segmented into hospital pharmacy, retail pharmacy, online pharmacy and others.
Multiple Sclerosis Market Regional Analysis/Insights
The Multiple sclerosis market is analysed and market size insights and trends are provided by country, type, treatment, drug class, diagnosis, route of administration, end-users and distribution channel as referenced above.
The countries covered in the Multiple sclerosis 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
North America dominates the multiple sclerosis market because of the growing prevalence of multiple sclerosis in this region. Additionally, growing focus of major key players on novel technology will further propel the market’s growth rate in this region.
Asia-Pacific are expected to grow during the forecast period of 2022 to 2029 due to number of population and rising healthcare expenditure in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Multiple Sclerosis Market Share Analysis
The Multiple sclerosis market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to multiple sclerosis market.
Some of the major players operating in the multiple sclerosis market are:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd.(Jerusalem)
- Sanofi (France)
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- Eli Lilly and Company (US)
- Merck & Co., Inc. (US)
- Allergan (Ireland)
- AstraZeneca (UK)
- AbbVie Inc. (US)
- Johnson & Johnson Private Limited (US)
- Cipla Inc. (US)
- Abbott (US)
- Merck KGaA (Germany)
- Actelion Pharmaceuticals Ltd (Switzerland)
- Opexa Therapeutics, Inc. (US)
- Bayer AG (Germany)
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