Multiple Sclerosis Market to Reach USD 39.39 Billion by 2033, Driven by Rising Disease Prevalence and Advancements in Treatment - Straits Research

According to a new report published by Straits Research, the global multiple sclerosis market size was valued at USD 28.28 billion in 2024 and is projected to reach USD 39.39 billion by 2033, growing at a CAGR of 3.70% during the forecast period (2025-2033). The market growth is primarily driven by the increasing prevalence of multiple sclerosis (MS), rising awareness initiatives by government and non-governmental organizations, and the growing research and development of novel treatment options.

Multiple sclerosis (MS) is a chronic neurological disorder that affects the central nervous system (CNS), leading to impaired nerve signal transmission due to damage to the protective myelin sheath. The disease manifests in symptoms such as fatigue, visual impairment, mobility issues, muscle weakness, and cognitive challenges. The condition predominantly affects individuals aged 20 to 50 and is more common in women than men.

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Rising Prevalence and Growing Awareness Fuel Market Expansion

According to the Multiple Sclerosis International Federation, the global prevalence of multiple sclerosis increased from 2.3 million in 2013 to 2.8 million in 2020, with enhanced diagnostic capabilities, lifestyle factors, and environmental conditions contributing to this rise. Organizations such as the World Health Organization (WHO), the Multiple Sclerosis Foundation, and the National Multiple Sclerosis Society have been instrumental in promoting disease awareness, patient education, and advocacy. Global campaigns like World Multiple Sclerosis Day have also amplified awareness, leading to higher diagnosis rates and demand for effective treatment options.

Innovation and Drug Development Boost Market Opportunities

The market has witnessed significant innovation in recent years, with the introduction of monoclonal antibodies, sphingosine-1-phosphate receptor modulators, and neuroprotective agents that offer improved therapeutic outcomes. For example, Adamas Pharmaceuticals' ADS-5102, an investigational amantadine-based therapy, demonstrated significant improvement in walking speed among MS patients in clinical trials. Furthermore, oral formulations such as Aubagio, Tecfidera, and Gilenya have gained substantial popularity due to their convenience, safety, and efficacy.

In addition, continued research in cell therapy and novel molecular targets has opened new avenues for disease management. A 2023 international study demonstrated the potential of stem cell injections in protecting against further brain damage in patients with progressive MS. Similarly, researchers at CAMH discovered small-molecule drugs targeting the glutamate system, showing promise in restoring myelin and alleviating MS-related symptoms in preclinical trials.

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Cost and Adverse Effects Pose Challenges

Despite advancements, the high cost and potential side effects of MS treatments remain significant barriers. According to the National Library of Medicine (NLM), lifetime medical expenses for MS patients in the U.S. are estimated at USD 4.8 million, with annual healthcare costs exceeding USD 68,000. Additionally, adverse reactions such as liver damage, infections, and cardiovascular complications can limit patient adherence, restraining market growth.

Regional Insights

North America holds the dominant share of the global multiple sclerosis market, supported by advanced healthcare infrastructure, strong reimbursement systems, and the presence of leading pharmaceutical companies such as Biogen, Sanofi, and Novartis AG. The U.S. alone accounts for nearly one million MS cases, while Canada has the world's highest prevalence, with 291 cases per 100,000 people. Key developments such as the FDA's approval of Sandoz's natalizumab-sztn (Tyruko)-the first biosimilar for MS in the U.S.-and ongoing clinical studies supported by major grants continue to strengthen the region's leadership position.

Meanwhile, the Asia-Pacific (APAC) region is poised for the fastest growth due to a large untapped patient base, improving healthcare systems, increasing disposable incomes, and expanded research initiatives. Notably, Australia launched the PLATYPUS trial, the first adaptive clinical study evaluating repurposed drugs for progressive multiple sclerosis, signaling the region's commitment to innovation and treatment advancement.

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Segmental Overview

By drug type, immunosuppressants lead the global market owing to their high efficacy in treating relapsing-remitting multiple sclerosis (RRMS). Medications such as Ocrevus, Lemtrada, and fingolimod have shown strong results in modulating immune responses.

By route of administration, the oral segment dominates, driven by patient preference for convenience and lower discomfort compared to injectable drugs. Widely used oral therapies include fingolimod, teriflunomide, dimethyl fumarate, ozanimod, and siponimod.

Key Industry Players

Sanofi
Celgene Corporation
Pfizer Inc.
Novartis AG
Synthetic Biologics Inc.
Bayer AG
Serono Inc.
EMD Opexa Therapeutics Inc.
Active Biotech AB
Merck and Co.
Actelion Pharmaceuticals Ltd.
Innate Immunotherapeutics
InnoBioscience LLC

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