Multiple Sclerosis Market is estimated to be US$ 32.9 billion by 2032; Rising Early Diagnosis and Advancements in Treatment to Boost Market Growth – BY PMI
As per the report by Prophecy Market Insights, Multiple Sclerosis Market accounted for US$ 20.6 billion in 2022 and is estimated to be US$ 32.9 billion by 2032 and is anticipated to register a CAGR of 4.9%. Multiple Sclerosis Market is segmented based on Type, Drug Class, Treatment, End-Users and Region.
Covina, Oct. 25, 2023 (GLOBE NEWSWIRE) — What is multiple sclerosis, and how does it affect patients?
Multiple Sclerosis is often categorized into different clinical forms. The most common form is relapsing-remitting MS (RRMS), characterized by periods of relapse (exacerbations) followed by remission (partial or complete recovery). Over time, some individuals may transition to secondary progressive MS (SPMS) in which there is a steady decline in function.
MS is a disease that primarily affects young adults, and its prevalence tends to increase with age. As the global population ages, the number of people living with MS is expected to rise, contributing to multiple sclerosis market growth. Growing healthcare infrastructure and access to treatment in emerging markets, along with increased disease awareness, may lead to a greater market share for MS treatments and services in these regions.
Key Industry Development –
- In August 2020, FDA approved Novartis Kesimpta, the first and only self-administered, targeted B-cell therapy for patients with relapsing multiple sclerosis. A first-choice therapeutic option for RMS patients, kesimpta is a targeted, precisely dosed, and administered B-cell therapy that has demonstrated improved efficacy with a similar safety profile compared to teriflunomide. The Sensoready auto injector pen is used to self-administer Kesimpta, the first B-cell treatment, once a month at home.
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- Growing prevalence of multiple sclerosis.
- Focus on Disease-Modifying Therapies (DMTs).
- Market competition with a wide range of treatment options.
- Use of oral and infused therapies.
- Emerging biologics and monoclonal antibodies.
- High cost and access challenges.
- Ongoing research and development.
|Multiple Sclerosis Market Value (2022)||US$ 20.6Bn|
|Multiple Sclerosis Market Projected Value (2032)||US$ 32.9Bn|
|Multiple Sclerosis Market CAGR (2022 – 2032)||4.9%|
- By Type – Primary progressive MS (PPMS), Secondary progressive MS (SPMS), Clinically isolated syndrome (CIS), and Relapse-remitting MS (RRMS)
- By Drug Class – Interferons, Immunomodulators, Immunosuppressants, and Others
- By Treatment – Physical Therapy, Medications, Plasma Exchange, and Stem Cell Therapy
- By End-Users – Specialty Clinics, Homecare, Hospitals, and Others
Discover the Leading Players Featured in the Report:
- Pfizer Inc.
- Bayer AG
- AbbVie Inc.
- Merck KGaA
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline plc
- Eli Lilly and Company
- Cipla Inc.
Analyst View –
Advances in telemedicine and remote patient monitoring technologies can improve access to care for individuals with MS, especially those in remote or underserved areas. This may enhance market growth by providing new avenues for patient engagement and treatment. Changes in regulatory policies and incentives for research and development in the MS field can impact the introduction and adoption of new therapies.
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Drivers and Restraints
The multiple sclerosis (MS) market is influenced by various drivers and restraints, which impact the development, treatment, and management of this chronic autoimmune disease. MS is a complex condition, and understanding the market dynamics is crucial for healthcare stakeholders, including pharmaceutical companies, healthcare providers, and patients. Here are some key drivers and restraints of the MS market:
- Increasing Prevalence: The prevalence of multiple sclerosis has been steadily rising, particularly in North America and Europe. This increase in the patient population is a significant driver for the MS market.
- Advancements in Research: Ongoing research in the field of neurology and immunology has led to a better understanding of the disease, its pathophysiology, and potential treatment options. This has fueled the development of novel therapies.
- Biotechnological Innovations: Advances in biotechnology have allowed for the development of more targeted and effective treatments, such as disease-modifying therapies (DMTs) and monoclonal antibodies.
- High Treatment Costs: The cost of MS treatments, especially DMTs, can be exorbitant. This places a significant financial burden on patients and healthcare systems.
- Limited Efficacy of Current Treatments: While there are several available treatments for MS, none of them offer a cure. Many existing therapies have limitations in terms of effectiveness and tolerability.
- Complex Disease Pathophysiology: MS is a complex and heterogenous disease, making it challenging to develop universally effective treatments. The variability in patient responses to therapies can complicate treatment decisions.
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- What are the latest advancements in disease-modifying therapies (DMTs) for MS treatment?
- How do the efficacy and safety profiles of different DMTs compare?
- Are there any promising novel therapies in the pipeline for MS treatment?
- What are the long-term outcomes of different treatment strategies for MS patients?
- What are the economic burdens associated with MS treatment, and how do these affect patients and healthcare systems?
Please Find Below Some Related Reports:
- Multiple Sclerosis Therapeutics Market – Multiple Sclerosis Therapeutics Market is estimated to be US$ 30.62 billion by 2030 with a CAGR of 2.50% during the forecast period
- Neurodegenerative Disorder Therapeutics Market – Growth in the prevalence of neurodegenerative among the global population
- Amyotrophic Lateral Sclerosis Drugs Market – Advancements in neurobiology and drug development.
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CONTACT: Shweta R Prophecy Market Insights U.S.: +1 860 531 2574 APAC: +917775049802 Email- sale[email protected] Web: www.prophecymarketinsights.com
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