Multiple Sclerosis Drugs Market 2024 - Size, Share, Segments, Applications, End-users, and Growth Outlook until 2033

The multiple sclerosis drugs market size has grown strongly in recent years. It will grow from $29.66 billion in 2023 to $31.5 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rising prevalence of multiple sclerosis, unmet medical need, rising investments from pharmaceuticals, growing awareness of multiple sclerosis.

The multiple sclerosis drugs market size is expected to see strongly grown in the next few years. It will grow to $47.97 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing availability of clinical trials, targeted therapy, growing focus on preventive medicine, growing demand for biosimilars, expanding geographical reach, combination therapies:. Major trends in the forecast period include immunomodulatory and immunomodulatory drugs, long-acting formulations, patient-centric care, drug innovation, oral and infusion therapies.

Market Overview -
Multi sclerosis drug refers to medications that are designed to stop the progression of disability and disease relapses. These medications are referred to as ""disease-modifying treatments."" These drugs target a protein on the surface of immune cells and reduce the number of white blood cells to help prevent MS relapses. The white blood cells' propensity for nerve injury may be reduced by this impact.

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Government And Non-Government Support Fueling Growth Of Multiple Sclerosis Drugs Market
The growth of the multiple sclerosis drugs market is aided by the support from the government as well as non-government organizations. The government and non-government organizations fund several schemes and programs to offer their support to enhance the quality of life of people affected with multiple sclerosis (MS). For instance, the government of Alberta in partnership with the Department of Economic Development, Trade, and Tourism in Canada invested $ 1 million towards the Canadian Prospective Cohort Study to Understand Progression in Multiple Sclerosis (CanProCo) to support the research and innovations to enhance understanding and treatment for MS disease. CanProCo is an initiative to consolidate the efforts of nearly 50 MS researchers from various disciplines across Canada. The initiative was further funded by the Canada Brain Research, Biogen Canada, and the MS Society of Canada, as well as Hoffmann-La Roche Limited (Roche Canada) to raise a total of $10 million. Appropriate financial support from the government and non-government organizations boosts the growth of the multiple sclerosis drugs market.

Competitive Landscape -
Major companies operating in the multiple sclerosis drugs market include Biogen Inc., Novartis International AG, F. Hoffmann-La Roche Ltd., Bayer HealthCare LLC, Pfizer Inc., Merck & Co. Inc., Sanofi S.A., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Acorda Therapeutics Inc., Actelion Pharmaceuticals Ltd, EMD Serono Inc., AbbVie Inc., Bayer Schering Pharma AG, CinnoVex, Rebif, Bristol-Myers Squibb Company, Johnson & Johnson, Mallinckrodt Pharmaceuticals, Mitsubishi Tanabe Pharma Corporation, Mylan N.V., Opexa Therapeutics Inc., Receptos Inc., Synthon Pharmaceuticals Inc., TG Therapeutics Inc., Alexion Pharmaceuticals Inc., Alkermes plc, Amgen Inc., Apitope Technology (Bristol) Ltd., Atara Biotherapeutics Inc., Celgene Corporation, Genzyme Corporation

Increasing Focus On New Product Launches To Meet Growing Demand For Ms Drugs
The companies are rapidly intensifying their efforts to focus on new product launches to cater to the rising demands for MS drugs. Multiple sclerosis requires lifelong treatment, which increases the overall cost of treating a patient. To provide better and more effective treatment companies in the multiple sclerosis market are developing drugs specific to the treatment of multiple sclerosis. Following the trend, FDA approved Novartis' Mayzent (siponimod) and EMD Serono's Mavenclad (cladribine) for the treatment of relapsing-remitting multiple sclerosis (RRMS), and active secondary progressive multiple sclerosis (SPMS). Both the drugs were launched as easy-to-consume oral drugs.

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Key Segments -
The multiple sclerosis drugs market covered in this report is segmented -
1) By Drug Class: Immunomodulators, Immunosuppressants, Interferons, Other Drug Classes
2) By Distribution Channels: Hospital Pharmacy, Retail Pharmacy, Online Stores
3) By Route Of Administration: Oral Drugs, Parenteral Drugs

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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