Multiple sclerosis (MS) is a chronic inflammatory immune-mediated disease that affects the nerve cells in the spinal cord and brain, leading to demyelination, axonal transection, and neurodegeneration. The treatment options for MS encompass various approaches such as injectable, oral, and infused medications, along with muscle relaxants, antidepressants, and physical therapy. Injectable therapies like interferon-beta and glatiramer acetate are administered under the skin or into the muscle, while oral medications include teriflunomide, dimethyl fumarate, and cladribine. Intravenous infusion treatments include ocrelizumab, alemtuzumab, and natalizumab.
According to Data Bridge Market Research, the Multiple Sclerosis Treatment Market accounted for USD 25.38 billion in 2021 and is expected to reach USD 34.73 billion by 2029. The market is expected to grow with a CAGR of 4.00% in the forecast period of 2022 to 2029
“Increasing prevalence of multiple sclerosis, increasing market’s growth rate”
The increasing incidence of multiple sclerosis serves as a key catalyst for the growth of the multiple sclerosis treatment market. With various types such as relapsing-remitting MS (RRMS), primary-progressive MS (PPMS), secondary-progressive MS (SPMS), and progressive-relapsing MS (PRMS), the high prevalence rates of these conditions will significantly impact the market dynamics throughout the forecast period. The demand for effective treatments and management options for multiple sclerosis is expected to drive market growth in response to this growing prevalence.
What restraints the growth of the multiple sclerosis treatment market?
“High cost associated with the research and development proficiencies, limits the market’s growth”
The growth of the multiple sclerosis market is limited by the high costs associated with its treatment. The expenses involved in diagnosing, managing, and providing medications for multiple sclerosis can pose a significant barrier to market expansion. The high financial burden placed on patients, healthcare systems, and insurance providers can hinder access to treatments and limit market growth. Finding cost-effective solutions and addressing affordability challenges will be crucial in driving the growth of the multiple sclerosis market.
Segmentation: Multiple Sclerosis Treatment Market
The multiple sclerosis treatment market is segmented on the basis of type, drug class, treatment, diagnosis, route of administration, end-users and distribution channel.
- On the basis of type, the multiple sclerosis treatment market has been segmented into clinically isolated syndrome (CIS), relapse-remitting ms (RRMS), primary progressive ms (PPMS), and secondary progressive ms (spms).
- On the basis of drug class, the multiple sclerosis treatment market has been segmented into immunomodulators, immunosuppressants, interferons, others.
- On the basis of treatment, the multiple sclerosis treatment market has been segmented into medications, stem cell therapy, physical therapy, plasma exchange, others.
- On the basis of diagnosis, the multiple sclerosis treatment market has been segmented into magnetic resonance imaging (MRI), simple electrical stimulation tests, lumbar puncture, others.
- On the basis of route of administration, the multiple sclerosis treatment market has been segmented into oral, parenteral, others.
- On the basis of end-users, the multiple sclerosis treatment market has been segmented into hospitals, specialty clinics, homecare, others.
- On the basis of distribution channel, the multiple sclerosis treatment market has been segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others.
Regional Insights: North America Dominates the Multiple Sclerosis Treatment Market
North America dominates the multiple sclerosis treatment market due to the increasing prevalence of multiple sclerosis. Moreover, the market's growth rate is further accelerated by the major key players' increasing focus on innovative technologies. These factors contribute to the expanding market potential and growth opportunities in the region.
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 owing to the increasing population and the escalating healthcare expenditure. These factors contribute to the expanding market opportunities and potential for growth in the region.
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Recent Development
- In August 2020, Novartis 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 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).
The Prominent Key Players Operating in the Multiple Sclerosis Treatment Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd.(Jerusalem)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Bayer AG (Germany)
- Eli Lilly and Company (U.S.)
- Merck & Co., Inc. (U.S.)
- Allergan (Ireland)
- AstraZeneca (U.K.)
- AbbVie Inc. (U.S.)
- Johnson & Johnson Private Limited (U.S.)
- Cipla Inc. (U.S.)
- Abbott (U.S.)
- Merck KGaA (Germany)
- Actelion Pharmaceuticals Ltd (Switzerland)
- Opexa Therapeutics, Inc. (U.S.)
- Bayer AG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of multiple sclerosis treatment market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Multiple Sclerosis Treatment Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
