Multiple Sclerosis Therapeutics Market - 2024-2031

Multiple Sclerosis Therapeutics Market - 2024-2031

Global multiple sclerosis therapeutics market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period 2024-2031.

Multiple sclerosis (MS) is an autoimmune condition that affects the brain and spinal cord (central nervous system). With MS, the immune system mistakenly attacks myelin cells. These are the protective covers (sheaths) that surround brain and spinal cord nerves. Myelin sheath damage interrupts messages (signals) that nerves send throughout the body to perform functions like vision, sensation and movement. Myelin damage can occur in the brain, spinal cord and nerves that supply the eyes.

There is no cure for multiple sclerosis, but treatment is available to help minimize ongoing damage from it and help manage symptoms. Multiple sclerosis treatment focuses on minimizing further damage, managing symptoms and preventing complications. Medications for multiple sclerosis can reduce relapses (periods when symptoms worsen or new symptoms develop) and the development of new lesions/scars and slow the disease’s progression.

Market Dynamics: Drivers

Rising adoption of novel therapeutics

The rising adoption of novel therapeutics is expected to drive the market over the forecast period. Novel therapeutics often offer improved efficacy compared to traditional treatments, allowing for better management of multiple sclerosis symptoms and slowing disease progression. This increased effectiveness can lead to greater patient satisfaction and healthcare provider confidence in prescribing these therapies. Especially biosimilars are the most evolving therapeutics.

For instance, on August 25, 2023, Sandoz, cleared the US Food and Drug Administration (FDA) approval for its biosimilar Tyruko (natalizumab-sztn), developed by Polpharma Biologics. Tyruko is approved to treat all indications covered by the reference medicine and is the first and only FDA-approved biosimilar for relapsing forms of multiple sclerosis (MS). Tyruko is approved as a monotherapy to treat all indications covered by reference medicine Tysabri (natalizumab) for relapsing forms of MS, including clinically isolated syndrome (CIS), relapsing-remitting MS (RRMS) and active secondary progressive disease, as well as Crohn’s disease in adults.

Advances in drug delivery systems have led to the development of novel therapeutics with more convenient dosing schedules and administration routes. The market players are also focussing on the development of self-administration therapeutics at home with a greater safety profile. This personalized approach has the potential to optimize treatment outcomes and minimize adverse effects.

For instance, on March 30, 2021, Novartis released that the European Commission has approved Kesimpta (ofatumumab) for the treatment of relapsing forms of multiple sclerosis (RMS) in adults with active disease defined by clinical or imaging features. Kesimpta is a targeted, precisely dosed and delivered B-cell therapy that has shown superior efficacy with a similar safety profile compared with teriflunomide, a first-line treatment in MS. Kesimpta is the first B-cell therapy that can be self-administered once monthly at home via the Sensoready autoinjector pen and can be a first-choice treatment option for patients with RMS.

Further, the increasing prevalence of multiple sclerosis, rising FDA approvals for novel therapies, increasing clinical trials to develop more advanced therapies, increasing awareness about the condition and advancements in the development of novel therapies are the factors expected to drive the market over the forecast period.

Restraints

Factors such as side effects associated with the various therapeutics, the high treatment costs, limited clinical efficacy, stringent regulatory requirements and safety concerns are the factors expected to hamper the market.

Segment Analysis

The global multiple sclerosis therapeutics market is segmented based on disease type, drug class, route of administration, distribution channel and region.

The monoclonal antibodies segment accounted for approximately 43.2% of the multiple sclerosis therapeutics market share

The monoclonal antibodies segment is expected to hold the largest market share over the forecast period. Usually, there is no cure for multiple sclerosis, but the different types of monoclonal antibodies can decrease multiple sclerosis brain lesions and worsening symptoms. These drugs are designed to target specific components of the immune system involved in the pathogenesis of multiple sclerosis, thereby modulating immune responses and reducing inflammation in the central nervous system.

For instance, on December 28, 2022, TG Therapeutics, Inc. cleared the U.S. Food and Drug Administration (FDA) approval for BRIUMVI (ublituximab-xiiy), for the treatment of relapsing forms of multiple sclerosis (RMS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. BRIUMVI is the first and only anti-CD20 monoclonal antibody approved for patients with RMS that can be administered in a one-hour infusion following the starting dose. The administration schedule of BRIUMVI consists of a day one infusion of 150mg administered in four hours, a day 15 infusion of 450mg administered in one hour, followed by 450mg infusions every 24 weeks administered in one hour.

Additionally, Ocrelizumab is a humanized monoclonal antibody that targets CD20, a protein found on the surface of B cells. By depleting B cells from the circulation, ocrelizumab reduces the production of antibodies and dampens the autoimmune response in multiple sclerosis. It is administered intravenously and is approved for both relapsing-remitting MS and primary progressive MS.

For instance, on February 27, 2024, Roche Pharma India launched its blockbuster breakthrough drug, Ocrevus (Ocrelizumab), for the treatment of multiple sclerosis (MS), expanding its neurology portfolio to cater to unmet needs of numerous patients grappling with this debilitating disease in India. It is the only monoclonal antibody drug approved for the treatment of both relapsing-remitting (RRMS) and primary progressive (PPMS) with more than 10 years of clinical and real-world data. Over 80% of people with RRMS and over 33% of people with PPMS treated with Ocrevus showed no signs of disability progression.

Geographical Analysis

North America accounted for approximately 41.2% of the market share

North America region is expected to hold the largest market share over the forecast period owing to the strong presence of major players and rising demand for multiple sclerosis therapeutics in the region. North America especially the United States is a known hub for its strong presence of major players such as pharmaceutical companies. This presence of major players in the region are actively involved in the research, development and commercialization of multiple sclerosis therapeutics. These companies have innovative drugs followed by FDA approvals, contributing to the region's dominance in the market.

For instance, on February 01, 2021, Biogen Inc. released that the U.S. Food and Drug Administration (FDA) approved a new intramuscular (IM) injection route of administration for PLEGRIDY (peginterferon beta-1a) for the treatment of relapsing forms of multiple sclerosis (MS). The new IM administration offers people living with relapsing MS the well-characterized efficacy and safety of PLEGRIDY with the potential for significantly reduced injection site reactions. This approval expands Biogen’s industry-leading portfolio of MS treatments, which also includes the subcutaneous (SC) administration of PLEGRIDY, and follows the European Commission’s marketing authorization for the IM administration.

In addition, there is a growing demand for innovative multiple sclerosis therapeutics in the region, driven by factors such as increasing awareness of the disease, expanding treatment options and a growing emphasis on personalized medicine. Patients and healthcare providers in the region are increasingly seeking effective treatments that offer better efficacy, safety and convenience.

For instance, on March 19, 2021, the Janssen Pharmaceutical Companies of Johnson & Johnson released that the U.S. Food and Drug Administration (FDA) approved PONVORY (ponesimod), a once-daily oral selective sphingosine-1-phosphate receptor 1 (S1P1) modulator, to treat adults with relapsing forms of multiple sclerosis (MS), to include clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease. PONVORY offers MS patients superior efficacy in reducing annualized relapse rates compared to an established oral therapy and a proven safety profile backed by over a decade of cumulative clinical research.

Competitive Landscape

The major global players in the multiple sclerosis therapeutics market include Biogen Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Genentech, Inc., Janssen Biotech, Inc., TG Therapeutics, Inc., Banner Life Sciences, Bristol-Myers Squibb Company, Genzyme Corporation and Teva Pharmaceutical Industries Ltd. among others.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global multiple sclerosis therapeutics market. Many multiple sclerosis patients experienced disruptions in their treatment regimens due to factors such as limited access to healthcare facilities, concerns about potential exposure to the virus during medical visits and supply chain disruptions affecting medication availability. Some patients may have delayed or skipped doses of their medications, leading to suboptimal disease management. The clinical trial disruptions may have slowed the pace of drug development and delayed the introduction of new treatments to the market.

Market Segmentation

By Disease Type
• Clinically Isolated Syndrome
• Relapsing-Remitting Multiple Sclerosis
• Secondary-Progressive Multiple Sclerosis
• Primary-Progressive Multiple Sclerosis

By Drug Class
• Disease-Modifying Therapies
• Corticosteroids
• Monoclonal Antibodies
• Interferon Beta Medications
• Others

By Route of Administration
• Oral
• Intravenous
• Parenteral
• Others

By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Why Purchase the Report?
• To visualize the global multiple sclerosis therapeutics market segmentation based on disease type, drug class, route of administration, distribution channel and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of multiple sclerosis therapeutics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global multiple sclerosis therapeutics market report would provide approximately 69 tables, 71 figures, and 197 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies