Multiple sclerosis (MS) is a chronic, autoimmune, and inflammatory disorder that affects the CNS and the communication between different parts of the body and the brain, resulting in various symptoms, including vision loss, pain, fatigue, and impaired coordination.
Globally, the prevalence of MS and vitamin D deficiency is rising at a concerning rate. As per the National Multiple Sclerosis Society, around 2.3 million people are suffering from MS across the globe, and the number is expected to surge in the years to come, which is increasing the demand for innovative MS drug discovery with enhanced efficacy and reduced adverse effects. Furthermore, reimbursement is playing a vital role in the growth of the market as MS drugs are expensive. Without reimbursement, the treatment may become unaffordable for most of the MS patients across the globe.
Rapid advancement in the healthcare sector, rising number of promising pipeline drug development projects, and unmet needs pertaining to MS are some of the factors driving the market growth. Several governments and non-governmental entities, such as the National Multiple Sclerosis Society, the Multiple Sclerosis Association of America, the Multiple Sclerosis Foundation, UCSF Health, and the European Multiple Sclerosis Platform are actively working to raise awareness regarding MS and are funding for R&D activities for the development of novel drugs. Thereby, advances in the pharmaceutical sector, increasing government funding, and rising investment in the healthcare and medical industry are fueling the market growth.
In the last few years, the FDA has been approving a range of disease-modifying therapies to treat different types of MS. Recently, the FDA approved Fingolimod (Gilenya) to treat pediatric multiple sclerosis and Glatiramer Acetate Injections (Glatopa) to reduce the frequency of relapses. For instance, a recent phase III clinical trial revealed that Siponimod, a potential multiple sclerosis drug, might reduce the relapse rate amongst patients suffering from secondary progressive MS. Also, the findings from a recent phase II clinical trial suggested that ibudilast may potentially restrict the development of disability in patients with MS.
The companies operating in the MS drugs market are focusing their efforts on gaining approval from the FDA for their newly developed drugs. For instance, Biogen, is developing Diroximel fumarate, which is in phase III of the clinical trials. Likewise, Novartis is developing Ofatumumab, which is also in Phase III. Additionally, other pharmaceutical firms, such as Roche, Eisai, Pfizer Inc., and Apitope, are developing drugs for MS. Hence, pipeline drugs for MS will foster the market growth in the coming years.
On the basis of drug class, the market is segmented into immunomodulators, immunosuppressants, interferons, and others. The immunomodulators segment is dominating the global multiple sclerosis drugs market and is predicted to lead the market during the forecast period. Immunomodulators are used for the treatment of relapsing forms of MS. It aids in slowing the progression of physical disability and reducing the occurrence of clinical exacerbations. Moreover, the availability of advanced treatment options, novel product launches, rising R&D investments, ongoing clinical trials, and mounting demand for drugs are driving segmental growth. Interferon beta-1b was the first immunomodulator approved by the U.S. FDA. It helped to decrease the frequency of clinical exacerbations. In March 2019, the FDA approved Mayzent, which is further boosting the market growth. Moreover, key players, such as Novartis, Biogen, Sanofi, and Teva Pharmaceuticals, etc. are actively working to develop immunomodulators that are more effective in reducing the risks associated with the disease. Some of the immunomodulators include Plegridy, Tysabri, Lemtrada, and Copaxone.
By route of administration, the market is segmented into oral, injectable, and infusions. The injectable segment is considered to be the fastest-growing segment during the forecast period. The growth can be attributed to the active government support, global market approvals, ease of administration, and increased level of safety. With the need for more convenient drug-delivery methods, injectable is gaining huge popularity for unit dose medication to reduce the drug waste and upsurge the product life span. Some of the available injections for the treatment of MS, include Avonex, Betaseron, Copaxone, Extavia, and Glatopa.
North America is leading the global multiple sclerosis drugs market. The rising number of hospitalization procedures, increasing prevalence of MS, expanding healthcare infrastructure, and surging healthcare expenditure in the U.S. and Canada are driving the market growth. The rising concentration of pharmaceutical companies in R&D activities for developing novel drugs for the treatment of MS is driving the market growth. As per the Institute for Clinical and Economic Review (ICER), the U.S. spends around USD 28,000 million annually for the treatment of MS. The reimbursement programs in the U.S. and Canada are rising the adoption of the treatment. According to the National Multiple Sclerosis Society, around 291 per 100,000 people in Canada are suffering from MS. Whereas, in the U.S., 450,000 people are suffering from MS. Additionally, the National Multiple Sclerosis Society (NMSS) and Multiple Sclerosis Association of America (MSAA), are actively engaged in educating people regarding the symptoms and advanced treatments for MS. Similarly, the leading players are actively working in the field to attend to the existence of strong unmet needs in the clinical segment and the rising demand for highly effective and rapidly acting medications. For instance, Biogen Idec introduced Plegridy, a long-acting PEGylated variant of its Avonex interferon. The U.S. is the biggest market for firms, such as Biogen, Novartis AG, and Sanofi SA, which is further boosting the market growth.
Europe is predicted to be the second in the global multiple sclerosis drug market on account of the increasing prevalence of MS. As per the European Multiple Sclerosis Platform (EMSP), over 600,000 people are living with MS in Europe. The market is majorly driven by the rising government support, increasing healthcare expenditure on MS, surging investments in R&D of MS drugs and clinical studies, rising awareness regarding advanced treatment options, and increasing healthcare spending.
In Asia Pacific, the multiple sclerosis drugs market is majorly driven by a large pool of patients suffering from MS in China and Japan, the launch and approval of new products, and growing investments by leading market players. To attend to the dire situation, the government is actively working to develop the healthcare infrastructure and is increasing its healthcare expenditure for the same. Additionally, leading players in the region are engaging in agreements with the local drug manufacturers to develop technologically advanced products. In January 2018, Biogen collaborated with Eisai Co. Ltd. to co-promote Tecfidera, Tysabri, and Avonex in Japan. Moreover, the well-improved distribution network in pharma-emerging nations is also supporting the regional market.
Middle East and Africa is expected to witness sluggish growth in the multiple sclerosis drug market. In Africa, lack of knowledge regarding the treatment options for MS, the high cost of drugs, and less development in medical facilities are the factors hampering the market growth. However, increasing prevalence of MS will create lucrative opportunities for the market in the years to come. As per the recent meta-analysis study, around 54.8–85/100,000 people are suffering from MS in the region. The Middle East North Africa Committee for Research and Treatment in Multiple Sclerosis (MENACTRIMS) is actively working to provide education regarding the ssymptoms, treatment, and effects of MS. Recently, Natalizumab, a highly specific alpha4-integrin antagonist, has lately been registered across this region.
The global MS drugs market is consolidated with the presence of Pfizer, Bayer AG, Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Celgene Corporation, Acorda Therapeutics, Inc., Biogen, Inc., Johnson & Johnson, EMD Serono, Eisai Co., Ltd., Apitope and AbbVie, Inc.
|Market Size||USD in Billion By 2030|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
|Segments Covered||by Drug Class (Immunomodulator, Immunosuppressant, Interferons), Route of Administration (Oral, Injectable)|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||, Pfizer, Bayer AG, Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Celgene Corporation, Acorda Therapeutics, Inc., Biogen, Inc., Johnson & Johnson, EMD Serono, Eisai Co., Ltd., Apitope and AbbVie, Inc.|
|Key Market Opportunities||The Pharmaceuticals Industry'S Substantial Growth Fuels The Multiple Sclerosis Drugs Market|