The global multiple sclerosis therapeutic market size is expected to reach USD 38.62 billion by 2030, registering a CAGR of 5.9% from 2024 to 2030, according to a new report by Grand View Research, Inc.
The presence of high unmet clinical needs in developing regions is one of the highest impact rendering drivers of the multiple sclerosis therapeutics market. Many organizations over the globe are actively involved in spreading awareness among people regarding progressive multiple sclerosis and the symptoms associated with it. Some notable examples include the National Multiple Sclerosis Society (NMSS) in the U.S., Multiple Sclerosis International Federation in Canada, European Multiple Sclerosis Platform (EMSP), and the Multiple Sclerosis Society (MSC).
Gather more insights about the market drivers, restrains and growth of the Multiple Sclerosis Therapeutic Market
Reimbursement programs are also anticipated to enhance the penetration of multiple sclerosis drugs. For instance, In June 2014, Biogen Idec Canada, announced that its TECFIDERA drug for the treatment of MS is available for reimbursement in British Colombia through B.C PharmaCare.
The introduction of novel therapeutics with minimal dosage requirement and cost-effectiveness is further expected to favor market growth. For, instance Lemtrada by Sanofi needs to be administered 3-5 times per year as compared to Copaxone, which requires daily administration.
Multiple Sclerosis Therapeutic Market Report Highlights
- The declining revenue of Copaxone, Gilenya, Avonex, and Tysabri is forecasted by considering the factors such as limited usage rates of these drugs owing to the availability of highly potent FDA-approved oral drugs, Aubigio and Tecfidera
- Immunosuppressant,on the other hand, is expected to witness significant growth of over 18.0%. The presence of a strong drug pipeline and its expected commercialization in the coming six years are some factors expected to drive market growth
- In 2023, the injectable drugs market held the largest share owing to high prescription rates & price
- North America dominated the global multiple sclerosis therapeutic market with a share of 38.3% in 2023. The increasing prevalence of multiple sclerosis, the introduction of new drugs, and high prices of drugs, such as Tysabri and Aubagio in the U.S., are some factors responsible for its dominance.
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List Of Key Players Multiple Sclerosis Therapeutic Market
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Biogen
- Bayer AG
- Sanofi
- F. Hoffmann-La Roche Ltd
- Johnson & Johnson Services, Inc.
- Merck & Co., Inc.
- Takeda Pharmaceutical Company Limited.
- Horizon Therapeutics plc
About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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