The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s multiple sclerosis drugs market report forecasts the multiple sclerosis drugs market size to grow to $37.67 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Multiple Sclerosis Drugs Market Report 2023 – https://www.thebusinessresearchcompany.com/report/multiple-sclerosis-drugs-global-market-report

Multiple Sclerosis Drugs Market Size Forecast

The global multiple sclerosis drugs market is expected to grow from $26.29 billion in 2022 to $27.92 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multiple sclerosis drugs market is expected to grow from $37.67 billion in 2027 at a CAGR of 7.8%.

North America held the largest multiple sclerosis drugs market share, and Middle East was the fastest-growing region in 2022.

Key Multiple Sclerosis Drugs Market Driver ­– Growth In Government And Non-Government Organizations Fund Several Schemes

For instance, the government of Alberta in partnership with the Department of Economic Development, Trade, and Tourism in Canada invested $ 1 million towards the Canadian Prospective Cohort Study to Understand Progression in Multiple Sclerosis (CanProCo) to support the research and innovations to enhance understanding and treatment for MS disease. CanProCo is an initiative to consolidate the efforts of nearly 50 MS researchers from various disciplines across Canada. The initiative was further funded by the Canada Brain Research, Biogen Canada, and the MS Society of Canada, as well as Hoffmann-La Roche Limited (Roche Canada) to raise a total of $10 million. Appropriate financial support from the government and non-government organizations boosts the growth of the multiple sclerosis drugs market.

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Key Multiple Sclerosis Drugs Market Trend – Focusing On New Product Launches

The companies are rapidly intensifying their efforts to focus on new product launches to cater to the rising demands for MS drugs. Multiple sclerosis requires lifelong treatment, which increases the overall cost of treating a patient. To provide better and more effective treatment companies in the multiple sclerosis market are developing drugs specific to the treatment of multiple sclerosis. Following the trend, FDA approved Novartis’ Mayzent (siponimod) and EMD Serono’s Mavenclad (cladribine) for the treatment of relapsing-remitting multiple sclerosis (RRMS), and active secondary progressive multiple sclerosis (SPMS). Both the drugs were launched as easy-to-consume oral drugs.

Multiple Sclerosis Drugs Market Segment

1) By Drug Class: Immunomodulators, Immunosuppressants, Interferons, Other Drug Classes

2) By Distribution Channels: Hospital Pharmacy, Retail Pharmacy, Online Stores

3) By Route Of Administration: Oral Drugs, Parenteral Drugs

Multiple Sclerosis Drugs Market Major Players and Strategies

Major players in the multiple sclerosis drugs market are Biogen, Novartis, Roche, Bayer HealthCare, Pfizer Inc., and Merck & Co. Inc., Sanofi, Teva Pharmaceutical Industries Ltd., GlaxoSmithKline, Acorda Therapeutics Inc., Actelion Pharmaceutical, EMD Serono, AbbVie Inc., Betaseron, CinnoVex, Extavia, Rebif, and Tysabr.

The Multiple Sclerosis Drugs Global Market Report 2023 covers regional data on multiple sclerosis drugs market size, multiple sclerosis drugs market trends and drivers, opportunities, strategies, and multiple sclerosis drugs market competitor analysis. The countries covered in the multiple sclerosis drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Multi sclerosis drug refers to medications that are designed to stop the progression of disability and disease relapses. These medications are referred to as “disease-modifying treatments.” These drugs target a protein on the surface of immune cells and reduce the number of white blood cells to help prevent MS relapses. The white blood cells’ propensity for nerve injury may be reduced by this impact.

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