Multiple Sclerosis Therapeutics Market Report

Market Insights

The Multiple Sclerosis Therapeutics Market is projected to grow from USD 25.7 billion in 2020 to USD 37.3 billion by 2026 at a CAGR of around 6.5% during the forecast period.

Figure: Multiple Sclerosis Therapeutics Market Size, 2020-2026 (USD Billion)

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What is multiple sclerosis?

Multiple sclerosis (MS) is defined as an autoimmune disease that affects the central nervous system. The immune system attacks the nerves, which causes communication problems between the brain and rest of the body. The different types of drugs used to treat multiple sclerosis include immunomodulators, immunosuppressant, copaxone, avonex, gilenya and other.

Key Players

Key players operating in the Multiple Sclerosis Therapeutics market are-

• Novartis International AG (Switzerland)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Sanofi Genzyme (US)
• Bayer AG (Germany)
• Pfizer Inc. (US)
• Biogen Inc. (US)
• The Merck Group (Germany)
• AbbVie (US).

Market Dynamics

The growth of the multiple sclerosis therapeutics markets is primarily driven by the rising number of people suffering from relapsing-remitting and secondary progressive multiple sclerosis. The increasing prevalence of chronic diseases due to changing lifestyle and stress are likely to drive the market growth at a significant rate during the review period. In addition to this, the rising demand for novel drug development to treat multiple sclerosis is expected to create lucrative opportunities for the players operating in the market in the coming years.

Segments' Analysis

End-Use Trends

By end-use, the multiple sclerosis therapeutics markets have been bifurcated into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to convenience and easy availability of required drugs at hospital pharmacies.

Regional Trends

By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to the established presence of the healthcare industry coupled with the presence of key market players such as Sanofi Genzyme (US) and Pfizer Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people suffering from chronic diseases.

COVID-19 Impact on Multiple Sclerosis Therapeutics Market

The COVID-19 outbreak adversely affected the market growth of the multiple sclerosis therapeutics industries due to the shift of medical treatment to rising coronavirus-affected patients. Patients suffering from other diseases were asked to postpone their surgery/appointment due to a rapid surge in COVID-19 cases across the globe. 

Critical Questions Answered in the Report

• What are the key trends in the global Multiple Sclerosis Therapeutics market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global Multiple Sclerosis Therapeutics market?
• What are the key strategies adopted by the major vendors to lead in the global Multiple Sclerosis Therapeutics market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the Multiple sclerosis therapeutics market hopes to have the greatest opportunity to convert-

• Multiple sclerosis therapeutics distributors
• Multiple sclerosis therapeutics suppliers
• Multiple sclerosis therapeutics manufacturers
• Logistics organizations
• Government bodies

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