Multiple Sclerosis Therapeutics Market Size, Trends and Growth Analysis by 2027

The market for Multiple Sclerosis (MS) therapeutics was valued at approximately US$ 24,026.90 million in 2019 and is anticipated to grow to US$ 39,223.59 million by 2027, reflecting a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027.

The expansion of the multiple sclerosis therapeutics market can be primarily attributed to the increasing incidence of multiple sclerosis and the rise in funding dedicated to MS research. Nevertheless, the high costs associated with MS treatments may hinder market growth throughout the forecast period.

Multiple sclerosis is classified as an autoimmune disorder that impacts the central nervous system. In this condition, the immune system erroneously attacks nerve fibers, leading to communication issues between the brain and the rest of the body. Treatment options for MS typically include immunosuppressants and immunomodulators, alongside physiotherapy.

Increased funding is propelling significant research efforts aimed at discovering new therapeutic options for multiple sclerosis globally. For example, the Multiple Sclerosis Scientific Research Foundation initiated the 2017 Multi-Centre, Collaborative Team Grant (Team Grant) Competition, which provides substantial funding for MS research to researchers and clinician scientists in Canadian institutions, in collaboration with both national and international experts. Research teams can apply for grants of up to US$ 4,500,000 over a three-year period. Similarly, in 2019, the National MS Society allocated US$ 24.4 million to support 64 new MS research projects, investing around US$ 35 million that year to back 340 new and ongoing research initiatives worldwide. In 2018, the National MS Society committed US$ 12 million to fund 40 new research projects aimed at halting the progression of multiple sclerosis, restoring lost functions, and ultimately eradicating the disease.

The COVID-19 pandemic has emerged as a significant global challenge, particularly impacting developing nations by disrupting imports and global trade. As of now, no definitive treatment for COVID-19 has been established. Patients suffering from severe health conditions, including neurological disorders, are experiencing delays in their chronic disease treatments. The pandemic has caused supply chain disruptions that may temporarily affect product sales. However, the supply of MS medications has remained consistent during the pandemic, as pharmacies have been permitted to operate during lockdowns. Many companies have responded to the pandemic by scaling back their clinical trial activities and postponing product launches. For instance, Bristol-Myers Squibb postponed the launch of its MS drug Zeposia (ozanimod) due to the COVID-19 outbreak.

The market is categorized by drug class into immunosuppressants and immunomodulators. In 2019, the immunomodulators segment held a larger market share, driven by the introduction of new generic medications and a growing acceptance of immunomodulators in the treatment of MS. Conversely, the immunosuppressant segment is expected to exhibit a higher CAGR during the forecast period.

When considering the route of administration, the multiple sclerosis therapeutics market is divided into injectable and oral forms. The injectable segment dominated the market in 2019 and is projected to maintain a higher CAGR throughout the forecast period.

In terms of distribution channels, the market is segmented into hospital pharmacies, retail pharmacies, and e-commerce platforms. The hospital pharmacies segment accounted for the largest market share in 2019, while the e-commerce segment is expected to experience the highest growth rate during the forecast period.

Key organizations such as the World Health Organization, Food and Drug Administration, Centers for Disease Control and Prevention, European Medicines Agency, National Center for Biotechnology Information, and National Health Service are among the primary and secondary sources referenced in the preparation of this report.