United States Multiple Sclerosis Therapeutics Market 2025 | Growth Drivers, Key Players & Investment Opportunities

Market Size and Growth

The Global Multiple Sclerosis Therapeutics Market reached US$ 22.84 billion in 2023 and is expected to reach US$ 26.57 billion by 2031, growing at a CAGR of 1.95% during the forecast period 2024-2031.

Key Development:

United States: Recent Industry Developments

✅ In October 2025, Harness Therapeutics launched its MISBA® Duo platform and entered into a research collaboration with Ono Venture Investment. This initiative aims to advance the development of novel MS therapeutics.

✅ In October 2025, Zenas BioPharma and InnoCare announced a strategic license agreement granting Zenas global rights to develop and commercialize orelabrutinib for MS. The collaboration also includes the initiation of Phase 3 clinical trials and a $120 million private placement financing.

✅ In September 2025, TG Therapeutics reported a 250% year-over-year increase in Briumvi sales, reaching $310 million annually. The company projects $540 million in sales for 2025, positioning Briumvi as a strong competitor in the MS treatment market.

Japan: Recent Industry Developments

✅ In October 2025, MediciNova received a patent allowance in Japan for its treatment targeting macular injury associated with progressive MS. The patent, covering the MN-166 compound until October 2039, includes various dosages and dosing frequencies for oral administration.

✅ In October 2025, the National Multiple Sclerosis Society (NMSS) highlighted its funding and support at ECTRIMS 2025, driving progress in MS research and care. Many presentations at the conference were from researchers supported by the NMSS.

✅ In April 2025, J-Pharma raised ¥5.77 billion in funding to support the global Phase 3 clinical trial of nanvuranlat (JPH034), an LAT1 inhibitor for MS. The company plans to file an Investigational New Drug (IND) application with the U.S. FDA and commence Phase 1 trials in the U.S. during fiscal year 2025.

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Multiple sclerosis therapeutics are treatments aimed at managing and slowing the progression of multiple sclerosis (MS), a chronic autoimmune disease affecting the central nervous system. These include disease-modifying therapies, immunosuppressants, and symptom-specific treatments, designed to reduce relapses, control inflammation, and improve patient quality of life.

Recent Mergers and acquisitions:

United States: Recent M&A Activity in MS Therapeutics

✅ In August 2025, AbbVie completed its acquisition of Capstan Therapeutics. This acquisition brings Capstan's lead asset, CPTX2309, into AbbVie's portfolio. CPTX2309 is currently in Phase 1 trials for the treatment of B cell-mediated autoimmune diseases, including MS, utilizing a lipid nanoparticle platform for CD19-specific in vivo CAR-T therapy.

✅ In May 2025, Bristol-Myers Squibb acquired 2seventy bio, a cell and gene therapy company focused on transformative treatments for cancer. While the primary focus is oncology, the acquisition reflects Bristol-Myers Squibb's broader interest in expanding its therapeutic portfolio, potentially including MS-related treatments.

✅ In January 2025, Cycle Pharmaceuticals acquired Banner Life Sciences, including its MS drug BAFIERTAM® (monomethyl fumarate), FDA-approved for relapsing forms of MS in adults. This acquisition enhances Cycle's portfolio in the MS therapeutic area.

Japan: Recent M&A Activity in MS Therapeutics

✅ In October 2025, Relief Therapeutics and NeuroX, the successor to MindMaze, signed a definitive agreement for a business combination. Upon closing, the combined entity will be renamed MindMaze Therapeutics Holding SA, aiming to become a global leader in evidence-based neurotherapeutic solutions for neurological diseases, including MS.

Key Players:

=> Biogen Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Genentech, Inc., Janssen Biotech, Inc., TG Therapeutics, Inc., Banner Life Sciences, Bristol-Myers Squibb Company, Genzyme Corporation and Teva Pharmaceutical Industries Ltd. among others.

Growth Forecast Projected:

The Global Multiple Sclerosis Therapeutics Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Multiple Sclerosis Therapeutics Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Key Segments:

➥ By Disease Type: Clinically Isolated Syndrome, Relapsing-Remitting Multiple Sclerosis, Secondary-Progressive Multiple Sclerosis, Primary-Progressive Multiple Sclerosis
➥ By Drug Class: Disease-Modifying Therapies, Corticosteroids, Monoclonal Antibodies, Interferon Beta Medications, Others
➥ By Route of Administration: Oral, Intravenous, Parenteral, Others
➥ By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Regional Analysis for Multiple Sclerosis Therapeutics Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.

Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.

Chapter 3: Offers an in-depth look at the competitive landscape among Multiple Sclerosis Therapeutics producers, including revenue shares, strategic moves, and recent mergers and acquisitions.

Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.

Chapters 5 & 6: Analyze Multiple Sclerosis Therapeutics revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.

Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.

Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.

Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.

Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.

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FAQ

What is the current size of the Multiple Sclerosis Therapeutics Market?

A: In 2023, the Multiple Sclerosis Therapeutics Market was valued at US$ 22.84 billion, reflecting its strong industry presence.

Q2: How large is the Multiple Sclerosis Therapeutics Market expected to be by 2031?

A: By 2031, industry forecasts suggest the Multiple Sclerosis Therapeutics Market will grow to around US$ 26.57 billion, demonstrating significant expansion.

Q3: What is the growth rate of the Multiple Sclerosis Therapeutics Market?

A: The market is projected to expand at a compound annual growth rate (CAGR) of 1.95% during the forecast period from 2024 to 2031.

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