Multiple Sclerosis Drugs Market: By Administration (Oral, Parenteral), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), BY Drug Class (Disease Modifying Drugs (DMDs), Steroids, Others), and Geography

 

Multiple Sclerosis Drugs Market size was valued at USD 23.43 billion in 2021 and is poised to grow at a CAGR of 4.0% over the forecast period 2022-28. Multiple Sclerosis Drugs Market: Multiple Sclerosis (MS) is a demyelinating disease that affects spinal cord and brain. Multiple sclerosis damages myelin sheath, material that surrounds and protects nerve cells. This damage blocks or slows down messages between brain and body. The exact cause of the Multiple Sclerosis disease is unknown but it is an autoimmune disease diagnosis. Some of the major problems include doubled vision, psychological, mental disturbances and not having coordination in body movements. Most of the people diagnosed with MS are between the age 20 to 50 years and it can occur in young children and significantly older adults. The unmet need of drugs for the treatment of multiple sclerosis, extensive R&D pipelines and prevalence of the disease are driving factors for the market growth of Multiple Sclerosis drug market. According to the Atlas MS, there are about 2.3 million people are with multiple sclerosis, and most of the patients are not diagnosed with multiple sclerosis and certain parts of the world due to the lacking of healthcare infrastructure and unawareness. The advancements in the biomedical science about to create a profitable opportunities for multiple sclerosis drug makers in near future. However patent expiry of the key drugs is key restraint for multiple sclerosis market, In addition strengthening of regulatory requirements and procedures also making difficulties in steady market growth. The global multiple sclerosis drugs market is majorly influenced by increased number of patients from secondary progressive relapsing-remitting multiple sclerosis. The awareness in identifying multiple sclerosis disease conditions increased because of organizations such as National MS society and Multiple Sclerosis Association of America (MSAA) are actively involved in educating the people regarding associated symptoms and increasing the awareness. The presence of strong pipeline drugs such as pleneva (BTG international Ltd.), cladribine (Merck &Co., Inc) and their expected commercialization witness to boost the market share. Companies also actively involved in collaborating with other drug manufacturers for development of drugs such as ampryra (Acordda Therapeutics and Biogen Idec), laquinimod (Active Biotech and Teva Pharmaceuticals), and rebif (Merck Serono and Pfizer). These initiatives are enabling the manufactures to strengthen their product share in Multiple sclerosis drug market. In Multiple sclerosis drug market segments immunomodulators are predominantly used compared to othersegments. On the arrival of the easier-to-use oral drugs, market share of the injectables has decreased.