Pune, May 10, 2023 (GLOBE NEWSWIRE) -- “The Multiple Sclerosis (MS) Market was valued at USD 23.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 2.2% over the forecast period of 2023-2030, reaching a value of USD 28.21 billion by 2030, As per the SNS Insider research study.”
Market Overview
Multiple sclerosis (MS) is a chronic autoimmune disease that affects the central nervous system, specifically the brain and spinal cord. It occurs when the immune system mistakenly attacks the protective covering of nerve fibers, known as myelin, causing inflammation and damage. The disruption of the myelin sheath and damage to nerve fibers can cause a wide range of symptoms, including vision problems, muscle weakness, fatigue, and difficulty with coordination and balance.
Market Analysis
One of the key drivers of growth of the multiple sclerosis (MS) market is the launch of new pipeline products that offer convenient oral formulations or less-frequent dosing schedules. These new products are expected to provide increased efficacy and improved patient compliance rates compared to existing treatments, which typically require more frequent administration. Furthermore, these new products may offer improved cost-effectiveness, as they may require less frequent clinic visits and less monitoring. In addition, the continued uptake of oral disease-modifying therapies (DMTs) is expected to drive market growth. These therapies are typically more expensive than other treatments, but they offer significant benefits in terms of compliance rates and convenience. As patients become more aware of these benefits, the demand for oral DMTs is likely to increase.
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Key Company Profiles Listed in this Report are:
The major key players are Johnson & Johnson, Biogen, Teva Neuroscience, Inc., Genentech, Inc., Dr. Reddy's, Zydus Cadila, Berlex, Sanofi, Novartis AG, Merck KGaA, Others
Impact of Recession
A recession can have both direct and indirect effects on the multiple sclerosis (MS) market, affecting the demand for MS drugs, the healthcare priorities and preferences of patients, and the research and development of MS treatments. Healthcare providers and pharmaceutical companies need to be aware of these effects and devise strategies to mitigate the impact of economic downturns on the MS market.
Multiple Sclerosis (MS) Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 23.2 Bn |
| Market Size by 2030 | US$ 28.21 Bn |
| CAGR | CAGR of 2.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Multiple Sclerosis (MS) Market: Key Segmentation | • By Drug Class (Disease Modifying Drugs (DMDs), Beta Interferons, Immunosuppressants, Synthetic Immunomodulatory Drugs, Chemotherapy Drugs, Corticosteroids, Others) • By disease Type (Relapsing-remitting MS (RRMS), Secondary Progressive MS (SPMS), Primary Progressive MS (PPMS), Progressive Relapsing MS (PRMS)) • By Mode of administration (Oral, Injectable) • By Distribution Channel (Hospital Based Pharmacy, Retail Pharmacy, Online Pharmacy, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
North America is home to some of the world's leading pharmaceutical companies that are actively engaged in the development and commercialization of new therapies for MS. These companies are investing heavily in research and development to bring new and innovative treatments to market. The growing demand for personalized medicine is also driving the growth of the multiple sclerosis (MS) market in North America. Personalized medicine involves tailoring treatments to the individual characteristics of the patient, including their genetic makeup, lifestyle, and environment. This approach is gaining popularity as it is believed to be more effective than a one-size-fits-all approach.
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Key Takeaway from Multiple Sclerosis (MS) Market Study
- The Disease Modifying Drugs (DMDs) segment is expected to dominate the market in the coming years, driven by factors such as increasing awareness and diagnosis of the disease, the development of new drugs, and the increasing number of approved indications for existing treatments.
- Relapsing-remitting MS (RRMS) is set to dominate the market due to its prevalence, earlier diagnosis, and the availability of effective disease-modifying therapies. While significant progress has been made in the treatment of MS, there is still much work to be done to address the unmet needs of patients with progressive forms of the disease.
Recent Developments Related to Multiple Sclerosis (MS) Market
- TASCENSO ODT® (fingolimod), a new drug for the treatment of multiple sclerosis (MS), has been launched in the United States. MS is a chronic autoimmune disease that affects the central nervous system and can cause a range of symptoms such as fatigue, muscle weakness, and difficulty with coordination and balance.
- Brainomix, a medical technology company, and Pixyl, an innovative healthcare solutions provider, have joined forces to offer a cutting-edge solution for multiple sclerosis (MS) patients. This collaboration combines Brainomix's AI-powered software with Pixyl's expertise in healthcare solutions to provide a comprehensive MS solution.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Multiple Sclerosis (MS) Market Segmentation By Drug Class
9. Global Multiple Sclerosis (MS) Market Segmentation By Disease Type
10. Global Multiple Sclerosis (MS) Market Segmentation By Mode of Administration
11. Global Multiple Sclerosis (MS) Market Segmentation By Distribution Channel
12. Regional Analysis
13. Company Profile
14. Competitive Landscape
15. Used Cases and Best Practices
16. Conclusion
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