Multiple Sclerosis Therapeutic Market Share & Trends Analysis Report By Drug Class, By Route of Administration (Oral, Injectable), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Multiple Sclerosis Therapeutic Market Trends

The global multiple sclerosis therapeutic market size was valued at USD 25.94 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030.The market growth is due to the rise in the global prevalence of the disease, and the advancements in the treatment which have led to the development of disease-modifying therapies (DMTs) that slow the progression and manage the symptoms more effectively.

The latest technological developments and advancements in multiple sclerosis therapeutics are poised to increase growth opportunities in the forecast period as advancements have significantly improved the quality of life for patients. Some examples of these technologies are assistive robotic arms, smartphone apps, voice commands, and neurotherapy treatments such as transcranial direct current stimulation (tDCS). In addition, the rise in the population suffering from multiple sclerosis coupled with an increasing demand for novel potent drugs is a key factor driving market growth.

The growth is attributed to the increasing focus on research and development to develop innovative drugs by major market players. New product launches and increasing government initiatives to improve the accessibility of treatment and care are expected to result in global market expansion in the forecast period. According to the MS International Federation, the number of people suffering from MS across the globe has increased from 2.3 million in 2013 to 2.8 million in 2020 and 2.9 in 2023. These statistics show the rising prevalence of MS globally which is a key growth driver for the multiple sclerosis therapeutic market in the forecast period.

The healthcare spending and clinical diagnostics & technological advancements have propelled the market growth. Patients suffering from multiple sclerosis can effectively manage their symptoms and enhance their quality of life with the easy availability of oral medications and injections resulting in minimal side effects. There has been a huge demand for oral medications in the past few years. This has led to the entry of new market players with an introduction to generics and biosimilars.

Drug Class Insights

The immunosuppressants segment dominated the market with a 60.8% share in 2023. Immunosuppressants play an important role in managing the disease by suppressing this abnormal immune response. Growing new product approvals for multiple sclerosis support the segment's expansion. There are several benefits of these medications such as the need for low dosage for successful administration, fewer adverse effects, and high efficiency are driving the market growth.

The immunostimulants segment is projected to grow at a CAGR of 6.6% over the forecast period. Immunostimulants work by boosting the immune system’s activity which can be beneficial in the cases of multiple sclerosis in which enhancing immune responses helps in fighting the disease progression. With advancements in research and technology, new immunostimulant therapies are being developed that target specific pathways involved in MS pathogenesis, offering promising treatment options for patients.

Route of Administration Insights

The injectable segment dominated the market with a share of 52.9% in 2023. The growth of this segment is due to the increasing preference for injectable drugs due to their higher efficacy and convenience. Injectable drugs are also more effective in controlling the disease symptoms than other route of administration.

The oral segment is projected to grow at a CAGR of 7.0% over the forecast period. This growth is due to their convenience and ease of administration. Patients prefer oral medications as they eliminate the need for frequent injections, which can be painful and inconvenient.

Distribution Channel Insights

The hospital pharmacies segment dominated the market with a share of 46.8% in 2023.This is due to the growing significance of disease and the rise in number of indoor patients. As more individuals are diagnosed with this condition, there is a higher demand for medications to manage the symptoms and progression of the disease and hospitals are well equipped to handle such diseases. Hospitals are becoming key centers for diagnosis and treatment of multiple sclerosis, which is leading to a rise in the distribution of therapeutics through hospital pharmacies.

The retail pharmacies segment is projected to grow at a CAGR of 6.4% over the forecast period. This growth is due to the convenience and accessibility offered by retail pharmacies, which makes them a preferred choice for patients seeking regular refills of their medications.

Regional Insights

North America dominated the global multiple sclerosis therapeutic market with a share of 38.3% in 2023. The growth is due to increasing cases of multiple sclerosis in the region. Another significant factor contributing to this growth is the presence of advanced healthcare infrastructure in the region.

U.S. Multiple Sclerosis Therapeutic Market Trends

The multiple sclerosis therapeutic market in the U.S. dominated the North America market with a share of 80.8% in 2023 due to the increased awareness leading to early detection of disease. In the U.S., March is celebrated as the Multiple Sclerosis Awareness Month with the support of the Multiple Sclerosis Association of America. According to the National Multiple Sclerosis Society, almost one million people in the U.S. were diagnosed with this condition in 2019. This underscores the rising prevalence of the disorder in the U.S.

Europe Multiple Sclerosis Therapeutic Market Trends

Europe multiple sclerosis therapeutic market emerged as a lucrative region in 2023. This is due to the presence of well-established healthcare infrastructure in the region.

The multiple sclerosis therapeutic market in the UK is expected to grow rapidly in the coming years due to the advanced healthcare infrastructure in the country allowing more precise diagnosis of MS and customized treatment options.

Germany multiple sclerosis therapeutic market held a substantial market share in 2023. This is due to the active government recommendations and favorable healthcare policies in the country.

Asia Pacific Multiple Sclerosis Therapeutic Market Trends

Asia Pacific multiple sclerosis therapeutics market is expected to grow rapidly in the coming years. The area is witnessing a boost due to increased government initiatives, an increase in available treatment options, and lower treatment costs in the region.

The significant market share of multiple sclerosis therapeutic in China in 2023. The growth of the pharmaceutical industry in China is driving the growth of the multiple sclerosis therapeutic market. For instance, the establishment of the China National Registry of Central Nervous System Inflammatory Demyelinating Illnesses in 2021 aimed to provide a comprehensive overview of MS and related diseases and provide disease management for these diseases.

The multiple sclerosis therapeutic market in India held a substantial market share due to several factors such as India’s expanding healthcare infrastructure and initiatives undertaken by the government for the adoption of advanced technologies.

Key Multiple Sclerosis Therapeutic Company Insights

Some key companies in the global multiple sclerosis therapeutic market include Teva Pharmaceutical Industries Ltd.; Pfizer Inc.; Bayer AG; Sanofi and F. Hoffmann-La Roche Ltd. Vendors in the market are focusing on increasing customer base to gain a competitive edge in the industry. 

• F. Hoffmann-La Roche AG, commonly known as Roche, is committed to advancing the understanding of MS disease progression and developing innovative solutions for the management and treatment of multiple sclerosis.

• Pfizer Inc. specializes in discovering, developing, manufacturing, and commercializing a wide range of pharmaceutical products. The company offers treatments for various conditions including cardiovascular diseases, immune disorders, metabolic disorders, cancer, inflammation, women’s health issues, cancer, and other rare diseases.

Recent Developments

• In February 2024, Roche Pharma India announced the launch of Ocrevus for the treatment of MS. It is expected to cater to the requirements of patients suffering with MS in India. Ocrevus is one of its leading products and is available in more than 100 countries and in India it is approved for primary progressive & relapsing forms of MS.

• In February 2024, Neuraxpharm Group announced the launch of BRIUMVI in Europe to treat adult patients suffering with relapsing MS.

• In August 2023, the U.S. Food and Drug Administration (USFDA) approved Tyruko. Tyruko is the first biosimilar of Tysabri injection for treating adults suffering with relapsing form of MS. It is approved to treat relapsing-remitting disease, active secondary progressive disease and clinically isolated syndrome.

Multiple Sclerosis Therapeutic Market Report Scope

Global Multiple Sclerosis Therapeutic Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global multiple sclerosis therapeutic market report based on drug class, route of administration, distribution channel, and region.

• Drug Class Outlook (Revenue, USD Million, 2018 - 2030)

  • Immunosuppressants

  • Immunostimulants

• Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

  • Oral

  • Injectable

  • Others

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospital Pharmacies

  • Retail Pharmacies

  • E-Commerce

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • UAE

    • South Arabia

    • South Africa

    • Kuwait