The global multiple sclerosis drugs market size was worth USD 23.68 billion in 2021. The market valuation is projected to increase from USD 25.43 billion in 2022 to USD 33.17 billion by 2029 at a CAGR of 3.9% during 2022-2029. In recent years, the incidence of multiple sclerosis has increased significantly. According to the Multiple Sclerosis International Federation, the number of multiple sclerosis patients reached 2.8 million in 2020, up from 2.3 million in 2013. Increasing federal funding and accelerated R&D efforts to address the increasing occurrence of multiple sclerosis will positively impact the market growth.
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COVID-19 Crisis to Create Severe Supply Chain Disruptions that will Stall Business Growth
The multiple sclerosis drugs market growth witnessed considerable slowdown during the COVID-19 pandemic due to delays in the diagnosis and treatment of the disease. Consequently, numerous major players witnessed a drop in revenue in 2020. The overall market share experienced a slower-than-anticipated growth of just 1.2% during 2020. However, the market is well poised for recovery as the impact of COVID-19 subsides.
Multiple Sclerosis Drugs Market Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2021 to 2028 CAGR | 3.9% |
| 2029 Value Projection | USD 33.17 Billion |
| Base Year | 2020 |
| Market Size in 2022 | USD 25.43 Billion |
| Market Size in 2021 | USD 23.68 Billion |
| Segments covered | Drugs, Route of Administration, end-Users and Geography |
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Drivers & Restraints-
Growing R&D Investments in Neurology to Augment Market Development
R&D investments in the field of neurology have gained significant traction in the past few years. Leading players in the market are making substantial investments to bring novel solutions to the market. Several major developments have been made during the last decade, leading to numerous major breakthroughs. Accelerated R&D efforts to tackle the increasing burden of multiple sclerosis will boost the market growth in the coming years.
However, the high cost of multiple sclerosis drugs could hamper the market growth to some extent.
Regional Insights-
North America to Hold Dominant Share Led by Expanding R&D
North America dominated the global multiple sclerosis drugs market share in 2021 with a revenue worth USD 11.36billion. Key factors supporting the regional growth are increasing R&D and novel product launches.
The European market is anticipated to hold the second largest share in the market, supported by active government investments and a favorable reimbursement scenario. Meanwhile, the market in Asia Pacific will be driven by the growing number of collaborations between biotech companies.
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List of Key Market Players:
- Biogen (U.S.)
- Pfizer Inc. (U.S.)
- 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.)
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Multiple Sclerosis – For Key Countries
- Regulatory Scenario – For Key Countries
- Patent Snapshot, Key Players
- New Product Launches
- Pipeline Analysis & R&D Investments
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Multiple Sclerosis Treatment Cost
- Impact of COVID-19 on the Market
- Global Multiple Sclerosis Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Drug Class
- Immunomodulators
- Immunosuppressants
- Interferons
- Others
- Market Analysis, Insights and Forecast – By Route of Administration
- Oral
- Injection
- Intramuscular
- Subcutaneous
- Intravenous
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Market Analysis, Insights and Forecast – By Drug Class
TOC Continued….
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