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The global multiple sclerosis market size is projected to reach USD 41.99 billion by 2028 owing to the increasing use of monoclonal antibodies for treatment of MS, observes Fortune Business Insights™ in its report, titled “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, Online Pharmacy), and Regional Forecast, 2021-2028”. As per the report, the value of the market was USD 26.05 billion in 2020 and the market is anticipated to register a CAGR of 6.3% from 2021 to 2028.
The COVID-19 pandemic has negatively impacted multiple sclerosis drugs industry as pharmaceutical industries were involved in manufacturing drugs and vaccines to curb the spread of the virus. Besides, the healthcare industry witnessed a major disruption in the supply chain due to the worldwide lockdown. This caused hindrance in transportation and logistics services, thus obstructing the market.
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FDA Accepted to Review New Drug ‘Ozanimod’ for Treating MS Patients
Celgene Corporation announced that the U.S. Food and Drug Administration (FDA) has accepted the review for ozanimod. This drug will be effective in the treatment of people suffering from relapsing forms of multiple sclerosis (RMS) in the US. Moreover, The European Medicines Agency (EMA) also accepted a Marketing Authorization Application for this drug to cure MS patients in the European Union. This drug is an oral, sphingosine 1-phosphate receptor modulator which binds with its S1P subtypes 1 (S1P1) and 5 (S1P5). It will further help in the reduction of lymphocyte migration in the central nervous system preventing immune-inflammatory indications in the patients.
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High Revenue Generated from Gilenya to Strengthen Market Position of Novartis AG
Biogen emerged as the leading player as the demand for its drug Tecfidera increased in the year 2020. Besides Novartis ranked second in the market owing to increased demand for Gilenya, since it is regarded as a more effective drug. In MRI scans, it showed that people who take Gilenya had very few active MS and it also slowed the process of disability which is associated with MS. Therefore, an increase in sales of Gilenya was reported. Its sales grew from $2.5 billion in 2014 to $3.3 billion in 2018, reported Forbes.
Extensive R&D Investment to Bolster the Multiple Sclerosis Drugs Market Growth
This market is rising dramatically owing to extensive research and investment. Pharmaceutical companies are focused on developing novel drugs and therapies to treat MS. For example, pharma firm Pipeline Therapeutics is performing clinical trials on PIPE-307, which will act as a selective M1 receptor to target MS antagonistically. Therefore, rising research activities will pave the way for many collaborations between pharmaceutical companies and research institutes, thus favoring the market.
A list of renowned Multiple Sclerosis Drugs providers operating in the global market:
Further Report Findings:
Table of Segmentation
Value (USD Billion)
Drug Class, Route of Administration, Distribution Channel, and Geography
By Drug Class
By Route of Administration
By Distribution Channel