According to Nova One Advisor, the global multiple Sclerosis Therapeutic market size was valued at USD 26.18 Billion in 2023 and is poised to grow from USD 27.72 Billion in 2024 to USD 46.44 Billion by 2033, at a CAGR of 5.9% during
Multiple Sclerosis Therapeutic Market Size to Hit USD 46.44 Bn by 2033
According to Nova One Advisor, the global multiple Sclerosis Therapeutic market size was valued at USD 26.18 Billion in 2023 and is poised to grow from USD 27.72 Billion in 2024 to USD 46.44 Billion by 2033, at a CAGR of 5.9% during the forecast period (2024-2033).
Multiple Sclerosis Therapeutic Market Key Takeaways
- North America dominated the global multiple sclerosis therapeutic market with a share of 38.13% in 2023.
- The immunosuppressants segment dominated the market with a 60.28% share in 2023
- The immunostimulants segment is projected to grow at a CAGR of 6.7% over the forecast period.
- The injectable segment dominated the market with a share of 52.19% in 2023.
- The oral segment is projected to grow at a CAGR of 7.0% over the forecast period.
- The hospital pharmacies segment dominated the market with a share of 46.18% in 2023.
- The retail pharmacies segment is projected to grow at a CAGR of 6.4% over the forecast period.
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The rise in the market growth is due to the increasing prevalence of disease and advancements made in the treatment therapies that leads to the development of the disease-modifying therapies that could inhibit the progression and control the symptoms effectively.
Multiple sclerosis is a neurological disease mostly affecting the young adults between the 20-40 years of age. Multiple Sclerosis develops when any bacteria, viruses or unhealthy mis attacks the central nervous system that affects the immune system. Myelin is a substance that forms a protective covering over neurons especially the myelin sheath and axons.
Multiple sclerosis is a chronic disease that impacts the individuals with a small amount of people developing the mild course of symptoms. On the other hand some may experience slowly worsening disease which leads to increased disability.
There are mainly 3 types of multiple sclerosis depending on the progression of the disease namely, Relapsing-remitting multiple sclerosis (which is the most common type and the symptoms come and go with recovery), Secondary-progressive multiple sclerosis (which worsens gradually after initial relapse), Primary-progressive multiple sclerosis (where symptoms get worsen from start with showing any improvements).
- For instance, Bristol Myers Squibb in June 2022 published a report of Zeposis phase 3 DAYBREAK open-label and SUNBEAM trials which showed the cognitive benefits for patients with multiple sclerosis relapse.
Much advancement has been done in the diagnostic techniques that could help in the precise treatment and management of the disease. Magnetic Resonance imaging, cerebrospinal analysis and neurological analysis are some of the techniques that help the healthcare professionals with the early diagnosis of the symptoms. The early detection helps with demand for the precise treatment options with advancements in disease-modifying therapies and management strategies which improves the medical care and support for the multiple sclerosis diagnosis.
- For instance, Sandoz in June 2022 launched its generic drug Dimethyl fumarate HEXAL, which was approved for treating relapsing-remitting multiple sclerosis among adults. This mediation is cost-effective enteric coated hard capsule that gained more demand as compared to the drug Tecfidera.
Research and developments have been for treating M.S. and is becoming a concern for healthcare professionals and governments. Many governments are taking initiatives for the developing guidelines and recommendations and creating awareness among the individuals.
- For instance, the German MS Society has announced 3-4 initiatives for spreading the awareness among individuals with MS and also organizes World MS day on 31st May to eliminate the barrier and support the people with multiple sclerosis.
The National Institute of Health and Care Excellence (NICE) created guidelines and recommended the sue of beta interferon’s like Betaferon, Avonex, Extavia and Rebif that created awareness regarding alternative treatment options that boost the market growth.
Immediate Delivery is Available | Get Full Report Access@ https://www.novaoneadvisor.com/report/checkout/8818
U.S. Multiple Sclerosis Therapeutic Market Size and Forecast 2024 to 2033
The U.S multiple sclerosis therapeutic market size was USD 6.99 billion in 2023, calculated at USD 7.42 billion in 2024 and is expected to reach around USD 12.77 billion by 2033, expanding at a CAGR of 6.2% from 2024 to 2033.
North America dominated the market in 2023 due to increasing prevalence of multiple sclerosis and the increasing advancements in the healthcare sector is contributing in the market growth. By region the U.S. dominated the North America market due to the increased awareness and early detection of the diseases. In U.S. March is celebrated as Multiple Sclerosis awareness month for the support of nearly 4,00,000 people diagnosed. This indicates the rising incidences of MS conditions.
The multiple sclerosis therapeutic market in the U.S. dominated the North America market with a share of 80.8% in 2023 due to the increased awareness leading to early detection of disease. In the U.S., March is celebrated as the Multiple Sclerosis Awareness Month with the support of the Multiple Sclerosis Association of America. According to the National Multiple Sclerosis Society, almost one million people in the U.S. were diagnosed with this condition in 2019. This underscores the rising prevalence of the disorder in the U.S.
By region, Eurpoe will be the emerging region as there is well-established infrastructure. The market in UK is expected to grow as the developed infrastructure and emerging advanced diagnostic technologies are leading the market growth in the region.
By region, Asia-Pacific is expected to grow during the forecast period as the increased government initiatives and reduced treatment cost are in demand. China holds the largest market share as the emerging pharmaceutical industry is driving the growth. In India, the market is expanding as the healthcare infrastructure and government initiatives are adopting for the use of advanced technologies.
Multiple sclerosis market segmentation
Drug Class Insights
The immunosuppressants segment dominated the market with a 60.28% share in 2023. as they play a significant role in managing the disease and suppressing the abnormal working of the immune system. Additionally, the emerging new products for the treatment of MS also expand the market segment. These drugs provide several benefits like it requires low dosage with less adverse effects and highly effective driving the multiple sclerosis market.
The immune stimulants segment is expected to grow during the forecast period. These immune stimulants boost the immune system which is helpful in treating the MS conditions by enhancing the immune response.
Route of Administration Insights
The injectable segment dominated the market with a share of 52.19% in 2023. The growth in the segment is due to the rising demand for the injectable drugs as there are more effective and convenient to use along with controlling the disease symptoms that other route of administration.
- For instance, Novartis in August 2020 announched that the U.S. FDA approved the use of Kesimpta which is a subcutaneous injection used for the treatment of relapsing multiple sclerosis, relapsing-remitting disease and active secondary progressive disease among adults.
The oral segment is expected to grow during the coming years as the increased preference of patients for oral administration is more as the injectable administration can be bit painful. For instance, in October 2019 Biogen and Alkermes plc. announced that the U.S. FDA has approved the use of Vumerity which is a oral drug formulation for treating the multiple sclerosis.
Distribution Channel Insights
The hospital pharmacies segment dominated the market with a share of 46.18% in 2023. due to increase in disease and number of indoor patients. Also the rising demand for the control of disease and inhibit the progression of disease is driving the hospitals for providing better treatment plans. Hospitals are the main sector where the diagnosis and treatment of individuals is done that gives rise for the distribution of the therapeutics through hospital pharmacies.
The retail pharmacies segment is projected to grow at a CAGR of 6.4% over the forecast period. This growth is due to the convenience and accessibility offered by retail pharmacies, which makes them a preferred choice for patients seeking regular refills of their medications.
Key companies in Multiple Sclerosis therapeutics market
Some of the key companies in the Multiple sclerosis market are Pfizer Inc., Bayer AG, Sanofi, Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd. These companies are investing in the R&D that could help the market grow. Many participants are taking initiatives and making plans for the development of product launch, agreements, increased investments and collaborating with other organizations. Many manufacturing companies are manufacturing their product locally that reduces the cost price.
Immediate Delivery Available, Get Full Access@ https://www.novaoneadvisor.com/report/checkout/8818
Multiple Sclerosis Therapeutic Market Top Key Companies:
The following are the leading companies in the multiple sclerosis therapeutic market. These companies collectively hold the largest market share and dictate industry trends.
- 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
Multiple Sclerosis Therapeutic Market Recent Developments
- Briumvi which is an anti CD20 monoclonal antibody FDA approved drug to treat the relapsing of multiple sclerosis. This drug is administered every six months as intravenous infusion.TG therapeutics recommends patients who get pregnant to use proper contraception method during treatment and for last six months after the last dose. The precaution is based on the data collected from animal studies that suggest Briumi may cause harm to fetus but there is insufficient data from human clinical trials.
- Roche Pharma India has launched a drug Ocrevus for the treatment of both relapsing remitting MS and primary progressive MS that has high persistence and high adherence to treatment because of its twice yearly dosing..
- In February 2024, Neuraxpharm Group announced the launch of BRIUMVI in Europe to treat adult patients suffering with relapsing MS.
- In August 2023, the U.S. Food and Drug Administration (USFDA) approved Tyruko. Tyruko is the first biosimilar of Tysabri injection for treating adults suffering with relapsing form of MS. It is approved to treat relapsing-remitting disease, active secondary progressive disease and clinically isolated syndrome.
Multiple Sclerosis Therapeutic Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Multiple Sclerosis Therapeutic market.
By Drug Class
- Immunosuppressants
- Immunostimulants
By Route of Administration
- Oral
- Injectable
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- E-Commerce
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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https://www.novaoneadvisor.com/report/checkout/8818
Browse More Insights:
Biosimilars Market: The global biosimilars market size was valued at USD 29.45 billion in 2023 and is anticipated to reach around USD 150.26 billion by 2033, growing at a CAGR of 17.7% from 2024 to 2033.
Geriatric Medicine Market : The global geriatric medicine market size was valued at USD 158.90 billion in 2023 and is anticipated to reach around USD 333.64 billion by 2033, growing at a CAGR of 7.7% from 2024 to 2033.
Personalized Medicine Market : The global personalized medicine market size was valued at USD 530.11 billion in 2023 and is anticipated to reach around USD 1,176.66 billion by 2033, growing at a CAGR of 8.30% from 2024 to 2033.
Compounding Pharmacies Market : The global compounding pharmacies market size was valued at USD 16.19 billion in 2023 and is anticipated to reach around USD 30.97 billion by 2033, growing at a CAGR of 6.7% from 2024 to 2033.
U.S. Digital Therapeutics Market : The U.S. digital therapeutics market size was valued at USD 1.95 billion in 2023 and is anticipated to reach around USD 13.01 billion by 2033, growing at a CAGR of 20.9% from 2024 to 2033.
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the forecast period (2024-2033).
Multiple Sclerosis Therapeutic Market Key Takeaways
- North America dominated the global multiple sclerosis therapeutic market with a share of 38.13% in 2023.
- The immunosuppressants segment dominated the market with a 60.28% share in 2023
- The immunostimulants segment is projected to grow at a CAGR of 6.7% over the forecast period.
- The injectable segment dominated the market with a share of 52.19% in 2023.
- The oral segment is projected to grow at a CAGR of 7.0% over the forecast period.
- The hospital pharmacies segment dominated the market with a share of 46.18% in 2023.
- The retail pharmacies segment is projected to grow at a CAGR of 6.4% over the forecast period.
The Complete Study is Now Available for Immediate Access | Download the Sample Pages of this Report@ https://www.novaoneadvisor.com/report/sample/8818
The rise in the market growth is due to the increasing prevalence of disease and advancements made in the treatment therapies that leads to the development of the disease-modifying therapies that could inhibit the progression and control the symptoms effectively.
Multiple sclerosis is a neurological disease mostly affecting the young adults between the 20-40 years of age. Multiple Sclerosis develops when any bacteria, viruses or unhealthy mis attacks the central nervous system that affects the immune system. Myelin is a substance that forms a protective covering over neurons especially the myelin sheath and axons.
Multiple sclerosis is a chronic disease that impacts the individuals with a small amount of people developing the mild course of symptoms. On the other hand some may experience slowly worsening disease which leads to increased disability.
There are mainly 3 types of multiple sclerosis depending on the progression of the disease namely, Relapsing-remitting multiple sclerosis (which is the most common type and the symptoms come and go with recovery), Secondary-progressive multiple sclerosis (which worsens gradually after initial relapse), Primary-progressive multiple sclerosis (where symptoms get worsen from start with showing any improvements).
- For instance, Bristol Myers Squibb in June 2022 published a report of Zeposis phase 3 DAYBREAK open-label and SUNBEAM trials which showed the cognitive benefits for patients with multiple sclerosis relapse.
Much advancement has been done in the diagnostic techniques that could help in the precise treatment and management of the disease. Magnetic Resonance imaging, cerebrospinal analysis and neurological analysis are some of the techniques that help the healthcare professionals with the early diagnosis of the symptoms. The early detection helps with demand for the precise treatment options with advancements in disease-modifying therapies and management strategies which improves the medical care and support for the multiple sclerosis diagnosis.
- For instance, Sandoz in June 2022 launched its generic drug Dimethyl fumarate HEXAL, which was approved for treating relapsing-remitting multiple sclerosis among adults. This mediation is cost-effective enteric coated hard capsule that gained more demand as compared to the drug Tecfidera.
Research and developments have been for treating M.S. and is becoming a concern for healthcare professionals and governments. Many governments are taking initiatives for the developing guidelines and recommendations and creating awareness among the individuals.
- For instance, the German MS Society has announced 3-4 initiatives for spreading the awareness among individuals with MS and also organizes World MS day on 31st May to eliminate the barrier and support the people with multiple sclerosis.
The National Institute of Health and Care Excellence (NICE) created guidelines and recommended the sue of beta interferon’s like Betaferon, Avonex, Extavia and Rebif that created awareness regarding alternative treatment options that boost the market growth.
Immediate Delivery is Available | Get Full Report Access@ https://www.novaoneadvisor.com/report/checkout/8818
U.S. Multiple Sclerosis Therapeutic Market Size and Forecast 2024 to 2033
The U.S multiple sclerosis therapeutic market size was USD 6.99 billion in 2023, calculated at USD 7.42 billion in 2024 and is expected to reach around USD 12.77 billion by 2033, expanding at a CAGR of 6.2% from 2024 to 2033.
North America dominated the market in 2023 due to increasing prevalence of multiple sclerosis and the increasing advancements in the healthcare sector is contributing in the market growth. By region the U.S. dominated the North America market due to the increased awareness and early detection of the diseases. In U.S. March is celebrated as Multiple Sclerosis awareness month for the support of nearly 4,00,000 people diagnosed. This indicates the rising incidences of MS conditions.
The multiple sclerosis therapeutic market in the U.S. dominated the North America market with a share of 80.8% in 2023 due to the increased awareness leading to early detection of disease. In the U.S., March is celebrated as the Multiple Sclerosis Awareness Month with the support of the Multiple Sclerosis Association of America. According to the National Multiple Sclerosis Society, almost one million people in the U.S. were diagnosed with this condition in 2019. This underscores the rising prevalence of the disorder in the U.S.
By region, Eurpoe will be the emerging region as there is well-established infrastructure. The market in UK is expected to grow as the developed infrastructure and emerging advanced diagnostic technologies are leading the market growth in the region.
By region, Asia-Pacific is expected to grow during the forecast period as the increased government initiatives and reduced treatment cost are in demand. China holds the largest market share as the emerging pharmaceutical industry is driving the growth. In India, the market is expanding as the healthcare infrastructure and government initiatives are adopting for the use of advanced technologies.
Multiple sclerosis market segmentation
Drug Class Insights
The immunosuppressants segment dominated the market with a 60.28% share in 2023. as they play a significant role in managing the disease and suppressing the abnormal working of the immune system. Additionally, the emerging new products for the treatment of MS also expand the market segment. These drugs provide several benefits like it requires low dosage with less adverse effects and highly effective driving the multiple sclerosis market.
The immune stimulants segment is expected to grow during the forecast period. These immune stimulants boost the immune system which is helpful in treating the MS conditions by enhancing the immune response.
Route of Administration Insights
The injectable segment dominated the market with a share of 52.19% in 2023. The growth in the segment is due to the rising demand for the injectable drugs as there are more effective and convenient to use along with controlling the disease symptoms that other route of administration.
- For instance, Novartis in August 2020 announched that the U.S. FDA approved the use of Kesimpta which is a subcutaneous injection used for the treatment of relapsing multiple sclerosis, relapsing-remitting disease and active secondary progressive disease among adults.
The oral segment is expected to grow during the coming years as the increased preference of patients for oral administration is more as the injectable administration can be bit painful. For instance, in October 2019 Biogen and Alkermes plc. announced that the U.S. FDA has approved the use of Vumerity which is a oral drug formulation for treating the multiple sclerosis.
Distribution Channel Insights
The hospital pharmacies segment dominated the market with a share of 46.18% in 2023. due to increase in disease and number of indoor patients. Also the rising demand for the control of disease and inhibit the progression of disease is driving the hospitals for providing better treatment plans. Hospitals are the main sector where the diagnosis and treatment of individuals is done that gives rise for the distribution of the therapeutics through hospital pharmacies.
The retail pharmacies segment is projected to grow at a CAGR of 6.4% over the forecast period. This growth is due to the convenience and accessibility offered by retail pharmacies, which makes them a preferred choice for patients seeking regular refills of their medications.
Key companies in Multiple Sclerosis therapeutics market
Some of the key companies in the Multiple sclerosis market are Pfizer Inc., Bayer AG, Sanofi, Teva Pharmaceutical Industries Ltd., and F. Hoffmann-La Roche Ltd. These companies are investing in the R&D that could help the market grow. Many participants are taking initiatives and making plans for the development of product launch, agreements, increased investments and collaborating with other organizations. Many manufacturing companies are manufacturing their product locally that reduces the cost price.
Immediate Delivery Available, Get Full Access@ https://www.novaoneadvisor.com/report/checkout/8818
Multiple Sclerosis Therapeutic Market Top Key Companies:
The following are the leading companies in the multiple sclerosis therapeutic market. These companies collectively hold the largest market share and dictate industry trends.
- 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
Multiple Sclerosis Therapeutic Market Recent Developments
- Briumvi which is an anti CD20 monoclonal antibody FDA approved drug to treat the relapsing of multiple sclerosis. This drug is administered every six months as intravenous infusion.TG therapeutics recommends patients who get pregnant to use proper contraception method during treatment and for last six months after the last dose. The precaution is based on the data collected from animal studies that suggest Briumi may cause harm to fetus but there is insufficient data from human clinical trials.
- Roche Pharma India has launched a drug Ocrevus for the treatment of both relapsing remitting MS and primary progressive MS that has high persistence and high adherence to treatment because of its twice yearly dosing..
- In February 2024, Neuraxpharm Group announced the launch of BRIUMVI in Europe to treat adult patients suffering with relapsing MS.
- In August 2023, the U.S. Food and Drug Administration (USFDA) approved Tyruko. Tyruko is the first biosimilar of Tysabri injection for treating adults suffering with relapsing form of MS. It is approved to treat relapsing-remitting disease, active secondary progressive disease and clinically isolated syndrome.
Multiple Sclerosis Therapeutic Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Multiple Sclerosis Therapeutic market.
By Drug Class
- Immunosuppressants
- Immunostimulants
By Route of Administration
- Oral
- Injectable
- Others
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- E-Commerce
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Immediate Delivery Available | Buy This Premium Research
https://www.novaoneadvisor.com/report/checkout/8818
Browse More Insights:
Biosimilars Market: The global biosimilars market size was valued at USD 29.45 billion in 2023 and is anticipated to reach around USD 150.26 billion by 2033, growing at a CAGR of 17.7% from 2024 to 2033.
Geriatric Medicine Market : The global geriatric medicine market size was valued at USD 158.90 billion in 2023 and is anticipated to reach around USD 333.64 billion by 2033, growing at a CAGR of 7.7% from 2024 to 2033.
Personalized Medicine Market : The global personalized medicine market size was valued at USD 530.11 billion in 2023 and is anticipated to reach around USD 1,176.66 billion by 2033, growing at a CAGR of 8.30% from 2024 to 2033.
Compounding Pharmacies Market : The global compounding pharmacies market size was valued at USD 16.19 billion in 2023 and is anticipated to reach around USD 30.97 billion by 2033, growing at a CAGR of 6.7% from 2024 to 2033.
U.S. Digital Therapeutics Market : The U.S. digital therapeutics market size was valued at USD 1.95 billion in 2023 and is anticipated to reach around USD 13.01 billion by 2033, growing at a CAGR of 20.9% from 2024 to 2033.
USA : +1 804 441 9344
APAC : +61 485 981 310 or +91 87933 22019
Europe : +44 7383 092 044
Email: sales@novaoneadvisor.com
Web: https://www.novaoneadvisor.com/
You can place an order or ask any questions, please feel free to contact at sales@novaoneadvisor.com | +1 804 441 9344
