Multiple Sclerosis Drugs Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Immunomodulators, Immunosuppressants, Interferons, and Others), By Route of Administration (Oral and Injection (Intramuscular, Subcutaneous, and Intravenous)), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and Forecast, 2022-2029

The global multiple sclerosis drugs market size was valued at USD 23.68 billion in 2021 and is projected to grow from USD 25.43 billion in 2022 to USD 33.17 billion by 2029, exhibiting a CAGR of 3.9% during the forecast period. Based on our analysis, the market exhibited a slow growth of 1.2% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with multiple sclerosis drugs experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

Multiple Sclerosis (MS) is an immune-mediated disease affecting the central nervous system. It is characterized by demyelination, inflammation, degenerative changes such as progressive brain and spinal cord atrophy and neuroaxonal loss. According to the Multiple Sclerosis International Federation, the number of people with multiple sclerosis across the globe increased from 2.3 million in 2013 to 2.8 million in 2020. The increasing prevalence of this disease has increased the demand for effective diagnosis and treatment of multiple sclerosis globally. Hence, the government is actively supporting the treatment of multiple sclerosis.

The multiple sclerosis drugs market 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. Furthermore, new product launches, increasing government initiatives to improve the accessibility of care & treatment, and the rising prevalence of multiple sclerosis are expected to contribute to the expansion of the market.

COVID-19 Slowed the 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 the 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 drugs for the treatment of multiple sclerosis. On the basis of revenue, the market witnessed a slow growth of 1.2% in 2020 compared to the market growth in the historical years.

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 decreased sales of pharmaceutical products by the company.

The market experienced slow growth in 2021 as well. However, compared to the prior year, the hospitals and clinics experienced increased patient volume for 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.

LATEST TRENDS

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Shift toward Monoclonal Antibodies for Treatment to Boost the Market

Monoclonal antibodies are now increasingly employed for the treatment of multiple sclerosis. Various clinical trials 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 revenue of USD 5.56 billion in 2021, further expanding the market.

Moreover, TG Therapeutics, Inc. introduced a product named Ublituximab for relapsing multiple sclerosis disease indication, which is currently in its phase 3 trial. Its expected completion date of Phase 3 trial is January 2023. The increased market penetration, rapid adoption of immunosuppressive drugs, and advancements in the production of monoclonal antibody drugs have resulted in the increased use of monoclonal antibodies. This is poised to drive the global multiple sclerosis drugs market growth during the forecast period.

DRIVING FACTORS

Significant R&D Investment by Market Players to Boost the Market

Neurological therapy research and development have 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 the improvement of the 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 substantial clinical research and R&D investment attraction. Most of the pharmaceutical companies have increased their focus on developing novel therapies for the treatment of MS.

• For instance, Sanofi is conducting a phase III clinical trial for Tolebrutinib, for the treatment of relapsing forms of MS (RMS), non-relapsing secondary progressive MS (nrSPMS), and primary progressive MS (PPMS). The expected submission date by Sanofi for this drug for the given indications is 2024 and 2025+ respectively.

Increased research on various novel candidates has resulted in strengthening the pipeline portfolio of leading and small-scale pharmaceutical companies. The expected launch of these pipeline candidates is likely to drive the multiple sclerosis treatment market growth in the coming years.

Proactive Government Support and Recommendations to Fuel the 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.

• For instance, the German MS Society (DMSG) has 3-4 initiatives in Germany to help people with MS in the country. It organizes a World MS Day competition on 31^st May every year to eliminate the accessibility barriers and broaden the supporter base for people with multiple sclerosis.

Various governments of countries, such as the U.S. and the U.K., have laid recommendations on using multiple drugs available to treat MS.

• For example, the National Institute of Health and Care Excellence (NICE), in June 2018, released recommendations for beta interferons such as Avonex, Betaferon, Extavia, Rebif, and glatiramer acetate (Copaxone). Such suggestions and treatment guidelines have increased awareness of various treatment options available, which is one of the key reasons driving the market growth.

Therefore, increasing government focus on spreading awareness regarding the disease and its effective treatment is estimated to propel the market’s growth during the forecast period.

RESTRAINING FACTORS

High Cost of Drugs to Hamper Demand for these Drugs

Despite increased government interventions and various treatment options for multiple sclerosis, the cost of 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.

SEGMENTATION

By Drug Class Analysis

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New Product Launches to Accelerate the Growth of 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’s 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.

By Route of Administration Analysis

Launch of Zeposia to Favor the Oral Segment

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 growth rate during the forecast period. High growth of the segment is due to the increasing number of multiple sclerosis drugs approvals as injections for subcutaneous use in the disease’s treatment. 

• For instance, in August 2020, Novartis announced that the U.S. Food and Drug Administration (FDA) had approved Kesimpta (ofatumumab) as an injection for subcutaneous use for the treatment of relapsing forms of multiple sclerosis (RMS) to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.

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.

By Distribution Channel Analysis

Hospital Pharmacy to Dominate the Market owing to the 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 the segmental growth.

REGIONAL INSIGHTS

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The market size in North America stood at USD 11.36 billion in 2021. Primary factors responsible for the region’s dominant share in the multiple sclerosis drugs market 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 the active government recommendations and favorable health reimbursement policies. Moreover, the increasing prevalence of the condition across the region is expected to further surge the multiple sclerosis drugs demand, 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 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 the demand for MS drugs across the region.

The market is projected to expand in the Middle East & Africa and Latin America due to the rising prevalence of neurological diseases and improving healthcare spending.

KEY INDUSTRY PLAYERS

Market Players with Strong Focus on Expansion of Multiple Sclerosis Drugs Portfolio to Hold Key Market Share

Biogen and F. Hoffmann-La Roche Ltd. are the prominent players in the market and accounted for a significant multiple sclerosis drugs 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.

• For instance, in April 2021, Biogen announced that the European Commission (EC) granted the marketing approval for subcutaneous injection of TYSABRI (natalizumab) to treat relapsing-remitting MS. This approval expanded the company’s therapeutic portfolio for MS.

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.

LIST OF KEY COMPANIES PROFILED:

• Biogen (U.S.)


• Pfizer Inc. (U.S.)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• Novartis AG (Switzerland)


• Merck & Co., Inc. (U.S.)


• Sanofi (France)


• Teva Pharmaceutical Industries Ltd. (Israel)


• Janssen Pharmaceuticals, Inc. (Johnson & Johnson Corporation) (New Jersey)


• Bristol-Myers Squibb Company (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• In March 2021 – Janssen Pharmaceutical, Inc. announced the U.S. FDA approval of Ponvory, an oral selective sphingosine-1-phosphate receptor 1 (S1P1) modulator to treat adults with relapsing forms of MS. Ponvory has higher efficiency in reducing annualized relapse rates compared to Aubagio. With the addition of this product to the portfolio, the company expanded its product offerings to treat MS.


• August 2020 – Novartis AG announced that the U.S. Food and Drug Administration (FDA) had approved Kesimpta (ofatumumab, formerly OMB157) as an injection for subcutaneous use for the treatment of relapsing forms of multiple sclerosis (RMS) to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.

REPORT COVERAGE

An Infographic Representation of Multiple Sclerosis Drugs Market

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The research report provides a detailed competitive landscape of the market. 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.

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