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The multiple sclerosis drugs market size was valued at USD 22.32 billion in 2022 and is projected to grow USD 21.33 billion in 2023 to USD 31.90 billion by 2030, exhibiting a CAGR of 5.9% during 2023-2030. North America dominated the global market with a share of 48.07% in 2022.
Multiple Sclerosis (MS) is an immune-mediated disease that affects the central nervous system. It is characterized by inflammation, demyelination, and degenerative changes such as progressive brain and spinal cord atrophy along with neuroaxonal loss. The number of people with multiple sclerosis across the globe increased from 2.3 million in 2013 to 2.8 million in 2020, according to the Multiple Sclerosis International Federation. The increasing prevalence of this relapsing remitting MS and primary progressive MS disease has increased the demand for effective diagnosis and treatment of multiple sclerosis globally. Hence, governments are actively supporting the treatment of multiple sclerosis.
The growth is attributed to the increasing focus on R&D to develop innovative drugs by major market players. For instance, in December 2020, Adamas Pharmaceuticals Inc. announced results from the phase 3 clinical study on ADS-5102, an investigational amantadine agent for treating MS patients. Product launches, increasing government initiatives to improve the accessibility of treatment & care, and the rising prevalence of multiple sclerosis are expected to result in the global market expansion.
COVID-19 Pandemic Slowed Market Growth Due to Lockdown Restrictions
The emergence of COVID-19 slowed the demand for multiple sclerosis drugs due to lower patient volumes going for the disease diagnosis and delays in treatment processes. Key players in the market experienced slow growth in their revenues due to the COVID-19 pandemic. The reallocation of healthcare resources for COVID-19 treatment, fewer people going for the disease diagnosis, and supply chain disruptions impacted the sales of these drugs for the treatment of MS.
The market players witnessed a slow growth in their revenue generated during 2020. For instance, Merck KGaA experienced an increase of 16.4% in 2020, which was quiet compared to the prior year. This was due to the decreased sales of pharmaceutical products by the company.
The market experienced slow growth in 2021 as well. However, compared to the previous year, hospitals and clinics experienced increased patient volume for the diagnosis and treatment of multiple sclerosis, which partially regularized the sales of multiple sclerosis drugs worldwide in 2021. Moreover, the market is estimated to recover in 2022, showing significant growth compared to the prior year.
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Shift Toward Monoclonal Antibodies for Disease Treatment to Boost Market Expansion
Monoclonal antibodies are now increasingly employed for the treatment of multiple sclerosis. Various companies are focused on developing novel multiple sclerosis drugs using these antibodies. Moreover, most of the immunosuppressive drugs used for treating this disease are humanized monoclonal antibodies, whose demand is increasing worldwide. Ocrevus, launched in March 2017 by F. Hoffmann-La Roche Ltd., became one of the blockbuster drugs generating a revenue of USD 5.56 billion in 2021, further expanding the market.
Moreover, a TG Therapeutics, Inc. product Ublituximab (for relapsing multiple sclerosis disease indication) is currently in its phase 3 trial. The expected completion date of the trial is January 2023. The rapid adoption of immunosuppressive drugs, increased market penetration, and advancements in the production of monoclonal antibody drugs resulted in the rise in use of monoclonal antibodies. This led to the global multiple sclerosis drugs market growth during the forecast period.
Significant R&D Investment by Market Players to Boost Market Growth
Research & development on neurological therapy has always been active for the past decade. Various novel molecules are being investigated for the treatment of multiple sclerosis. Some of the key pharmaceutical companies emphasize on the improvement of disabilities associated with multiple sclerosis. The pipeline portfolio of various companies includes the agents with different mechanisms of action, which is expected to boost their demand from physicians, aiming to change the treatment algorithm in the coming years.
The market is witnessing considerable clinical research and R&D investment attraction. Many pharmaceutical companies increased their focus on developing novel therapies for MS treatment.
Increased research on various novel candidates resulted in reinforcing the pipeline portfolio of small-scale and leading pharmaceutical companies. The launch of these pipeline candidates is anticipated to drive the market growth of these type of drugs in the coming years.
Proactive Government Support and Recommendations to Fuel Market Growth
The global burden of multiple sclerosis is increasing at an alarming rate and becoming a concern for healthcare providers and governments. The rising prevalence of the disease has forced governments of many countries to take proactive measures through guidelines and recommendations. Apart from this, various awareness initiatives are being launched by government associations to educate patients regarding different treatment options available.
Governments of various countries, such as the U.S. and the U.K., have laid recommendations on using multiple drugs available to treat MS.
Therefore, increasing government focus on spreading awareness regarding the disease and its effective treatment is estimated to propel the market growth during the forecast period.
High Cost of Drugs to Hamper Product Adoption
Despite the increased government interventions and various treatment options for MS, the cost of multiple sclerosis drugs remains a significant challenge to the market growth. The high pricing of the drugs makes it inefficient to address the unmet needs of affected populations.
DMTs are considered to be a highly effective treatment option. However, a significant rise in out-of-pocket costs for DMTs leads to lower adherence and improper disease management. According to the National Multiple Sclerosis Society, the price of MS medication is rising gradually. From 2013 to 2018, the median price increased by more than USD 20,000. This steady increase in the costs associated with MS treatment is anticipated to hamper the growth in the number of MS patients opting for its treatment.
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New Product Launches to Accelerate the Growth of the Immunomodulators Segment
On the basis of drug class, the market is segmented into immunomodulators, immunosuppressants, interferons, and others.
The immunomodulators segment dominated the market in 2021 and is estimated to hold a significant market share throughout the forecast period. More treatment options within immunomodulators and new product launches for the disease treatment are responsible for its growth. For instance, in January 2020, Novartis announced the approval of Mayzent (siponimod) by the European Commission (EC) for the cure of adult patients with Secondary Progressive Multiple Sclerosis (SPMS) with active disease evidenced by relapses or imaging features of inflammatory activity. Moreover, the high demand for immunomodulatory drugs for MS treatment is expected to propel the segment growth.
The others segment includes antineoplastics and molecular antibody products. Molecular antibodies have become one of the most efficient treatments for reducing relapses and inflammation in MS patients. This is the first treatment for primary progressive MS and is being explored as reparative/remyelinating agents. There are many molecular antibody drugs in the pipeline. The approval of these products is expected to boost the market in the coming years.
Injection Segment to Depict Highest Share Owing to Rising Drug Approvals
Based on the route of administration, the market is bifurcated into oral and injection. The injection segment is sub-segmented into intramuscular, subcutaneous, and intravenous.
The injection segment accounted for the maximum market share in 2021 and is expected to observe a substantial growth rate during the forecast period. The high growth of the segment is due to increasing number of multiple sclerosis drug approvals as injections for subcutaneous use in disease treatment.
However, the oral segment is estimated to grow at the fastest CAGR during the forecast period. The launch of new products and the shift toward oral drugs are the key factors contributing to the expansion of the oral segment. For instance, in January 2020, Bristol Myers Squibb announced the launch of Zeposia, which is now the lowest-priced oral drug available for MS in the market. This is expected to give significant momentum to the oral segment during the forecast period.
Hospital Pharmacy to Dominate the Market Owing to Favorable Health Reimbursement
The market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy in terms of distribution channel. The hospital pharmacy segment is anticipated to dominate the market throughout the forecast period, owing to favorable health reimbursement and increased government efforts to strengthen the government hospital pharmacies.
Moreover, the online pharmacy segment is poised to experience lucrative growth due to the increasing number of online portals distributing prescription drugs across the globe. Moreover, due to the outbreak of COVID-19, lockdown restrictions were imposed globally to control the spread of the virus. This increased the need for home delivery of medicines, thereby spurring segmental growth.
The market size in North America stood at USD 10.73 billion in 2022. Primary factors responsible for the region’s dominant multiple sclerosis drugs market share include increasing R&D investment, new product launches, and rising demand for immunosuppressant and molecular antibody drugs.
In addition, governments in the region actively undertake initiatives to generate awareness regarding the treatment and diagnosis of MS. In the U.S., the month of March is recognized as Multiple Sclerosis Awareness Month, which is supported by government associations such as the Multiple Sclerosis Association of America through educational activities. These government initiatives for increasing awareness regarding multiple sclerosis and its treatment among the population are anticipated to fuel the considerable sclerosis market growth in North America.
Europe is estimated to be the second-most prominent region in terms of revenue in 2021 owing to active government recommendations and favorable health reimbursement policies. Moreover, the increasing prevalence of the condition across the region is expected to boost MS drugs demand further, thereby augmenting the market growth.
The market in Asia Pacific is likely to register the highest CAGR during the forecast period. This significant growth rate is attributable to the improved distribution networks of pharmaceutical companies in emerging economies. Also, the collaboration of Biogen and Eisai Co., Ltd. in January 2018 to co-promote Tecfidera, Tysabri, and Avonex in Japan would accelerate the multiple sclerosis treatment market growth in Asia Pacific. Moreover, growing government initiatives in many countries to reduce the cost of treatment pertaining to MS is another significant factor boosting demand for MS drugs across the region.
The market is projected to expand in the Middle East & Africa and Latin America. This is due to the rising prevalence of neurological diseases and improving healthcare spending.
Market Players with Strong Focus on Expansion of Multiple Sclerosis Drugs Portfolio to Hold Key Market Share
Biogen and F. Hoffman-La Roche Ltd. are the prominent players in the market and accounted for a significant market share in 2021.
Biogen dominated the market in 2021. This dominance is attributed to the company’s strong focus on getting approvals for the commercialization of multiple sclerosis drugs to boost its revenue.
Other significant players, including Novartis AG, Sanofi, and Merck KGaA are increasing their emphasis on receiving approval from regulatory bodies for MS drugs to expand their product portfolio and strengthen their presence in the global market.
An Infographic Representation of Multiple Sclerosis Drugs Market
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The market research report provides a detailed competitive landscape. It focuses on key points such as new product launches in the market. Additionally, it includes the prevalence of multiple sclerosis and key industry developments such as partnerships, mergers, and acquisitions. Furthermore, the report covers regional analysis of different segments, company profiles of key market players, and the impact of COVID-19 on the market. The report consists of qualitative and quantitative insights that contribute to the market growth.
CAGR of 5.9% from 2023-2030
Value (USD Billion)
By Drug Class, Route of Administration, Distribution Channel, and Region
By Drug Class
By Route of Administration
By Distribution Channel
Fortune Business Insights says that the global market stood at USD 22.32 billion in 2022 and is projected to reach USD 31.90 billion by 2030.
The market is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).
The immunomodulators segment is set to lead the market by drug class.
The key factors driving the market are new product launches, increasing government initiatives to improve the accessibility of care & treatment, rising prevalence of multiple sclerosis, and significant R&D investments.
Biogen, F. Hoffman-La Roche Ltd., Novartis AG, and Sanofi are the top players in the market.
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