Multiple Sclerosis Drugs Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Multiple Sclerosis Drugs Market
The multiple sclerosis drugs market size was valued at USD 21.33 billion in 2023, and the market is now projected to grow from USD 21.16 billion in 2024 to USD 38.94 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period of 2024-2032.
Through the COVID-19 pandemic, the demand for multiple sclerosis drugs fell because patients had no possibility of getting the disease diagnosed and had to abandon the receiving facilities. The treatment procedures were interrupted due to the novel coronavirus outbreak. The major top firms faced miserable revenue generation due to the COVID-19 crisis. Transfer of healthcare resources to the COVID-19 cases, less activity but with a higher rate of negative diagnoses and supply chain disturbances are the facts that affected the sales of such multiple sclerosis drugs.’ medications used in the treatment of MS patients. Thus, it led to the decline in the multiple sclerosis drugs market growth.
Over the past ten years, R & D of neurological therapy has had remarkable progress. In the last number of years few modern building blocks assessment for the treatment that has been called multiple sclerosis have been under consideration. Some of the great pharmaceutical companies in the industry are keen to enter into a phase of the improvement of diseases and disabilities caused by multiple sclerosis. The drug pipeline of various companies is composed of agents from different mechanisms of action, where after successful promotion of them among clinicians, they are expected to take an approach that will be similar to the symptoms of the diseases. These factors drive the multiple sclerosis drugs market share.
Discovering an increasing trend in treating multiple sclerosis with monoclonal antibodies has allowed the development of many drugs by drug companies and monoclonal antibodies to disabilities such as this one. Moreover, the monoclonal antibodies that should inhibit the immune system responsible for the illness are mostly humanized monoclonal antibodies, and their need is growing all over the world. One of the remarkable stories behind the blockbuster Ocrevus, launched in March 2017 by F. Hoffmann-La Roche Ltd, was USD 5.56 billion revenue it brought about in 2021. It is the further expansion of the market.
Comprehensive Analysis of Multiple Sclerosis Drugs Market
The multiple sclerosis drugs market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the healthcare industry. These segmentations are methodically segregated By Drug Class Analysis, By Route of Administration, and By Distribution Channel Analysis. Market segmentation based on drug classes involves a few primary drug classes, including immunomodulators, immunosuppressants, interferons, and others. The group of immunomodulators was among the best in 2021 and since then has been considered the most favorable market participant with a large share in the market through the forecasted period It is further divided into oral and injection on the basis of the route of administration. The sub-segment of the injection segment is stratified as intramuscular, subcutaneous, and intravenous. Even the injection section that held the leading market portion for 2023 is expected to see substantial growth in the specified period. From the distribution channel perspective, the market is categorized into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy department is the top segment in the forecast period due to the effective and favorable reimbursement of healthcare subsided by government and an increase in the government's support towards government over-the-counter pharmacies.
The market size in North America stood at USD 10.28 billion in 2023. Factors that lead to the area's high percentage of the market share of multiple sclerosis medicines are the ascent in R&D financing, new products launched, and higher user demands for immunosuppressive and molecular antibody drugs.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, Biogen (U.S.), Pfizer Inc. (U.S.), F. 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) (U.S.) and Bristol-Myers Squibb Company (U.S.).
In March 2021, Janssen Pharmaceutical, Inc. declared that the U.S. FDA has granted authorization to the first application, in form of oral administration, from, an S1P1 receptor modulator, for the management of adults with relapsing MS. The efficacy of Ponvory and its ability to affliction in adults vs. Aubagio has been a major aid in the drug comparison. Introducing Ponvory to their pipeline, the company diversified its range of practices to MS healing.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 7.9% from 2024-2032
Unit Value (USD Billion)
Segmentation By Drug Class
Immunomodulators
Immunosuppressants
Interferons
Others
By Route of Administration
Oral
Injection
Intramuscular
Subcutaneous
Intravenous
By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
By Geography
North America (By Drug Class, by Route of Administration, by Distribution Channel, and by Country)
U.S.
Canada
Europe (By Drug Class, Route of Administration, Distribution Channel, and Country/Sub-region)
U.K.
Germany
France
Italy
Spain
Scandinavia
Rest of Europe
Asia Pacific (By Drug Class, Route of Administration, Distribution Channel, and Country/Sub-region)
Japan
China
India
Australia
Southeast Asia
Rest of Asia Pacific
Latin America (By Drug Class, Route of Administration, Distribution Channel, and Country/Sub-region)
Brazil
Mexico
Rest of Latin America
Middle East & Africa (By Drug Class, Route of Administration, Distribution Channel, and Country/Sub-region)
South Africa
GCC
Rest of the Middle East & Africa
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Gesture Recognition Key Players Market Share/Ranking, 2023
- 5. Global Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By System Type (USD)
- 5.2.1. Touchless
- 5.2.2. Touched
- 5.3. By Application (USD)
- 5.3.1. Human-computer Interaction
- 5.3.2. Gaming
- 5.3.3. Virtual Reality
- 5.3.4. Robotics
- 5.3.5. Healthcare
- 5.3.6. Automotive
- 5.3.7. Others
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By System Type (USD)
- 6.2.1. Touchless
- 6.2.2. Touched
- 6.3. By Application (USD)
- 6.3.1. Human-computer Interaction
- 6.3.2. Gaming
- 6.3.3. Virtual Reality
- 6.3.4. Robotics
- 6.3.5. Healthcare
- 6.3.6. Automotive
- 6.3.7. Others
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. Application
- 6.4.2. Canada
- 6.4.2.1. Application
- 6.4.3. Mexico
- 6.4.3.1. Application
- 7. South America Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By System Type (USD)
- 7.2.1. Touchless
- 7.2.2. Touched
- 7.3. By Application (USD)
- 7.3.1. Human-computer Interaction
- 7.3.2. Gaming
- 7.3.3. Virtual Reality
- 7.3.4. Robotics
- 7.3.5. Healthcare
- 7.3.6. Automotive
- 7.3.7. Others
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. Application
- 7.4.2. Argentina
- 7.4.2.1. Application
- 7.4.3. Rest of South America
- 8. Europe Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By System Type (USD)
- 8.2.1. Touchless
- 8.2.2. Touched
- 8.3. By Application (USD)
- 8.3.1. Human-computer Interaction
- 8.3.2. Gaming
- 8.3.3. Virtual Reality
- 8.3.4. Robotics
- 8.3.5. Healthcare
- 8.3.6. Automotive
- 8.3.7. Others
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. Application
- 8.4.2. Germany
- 8.4.2.1. Application
- 8.4.3. France
- 8.4.3.1. Application
- 8.4.4. Italy
- 8.4.4.1. Application
- 8.4.5. Spain
- 8.4.5.1. Application
- 8.4.6. Russia
- 8.4.6.1. Application
- 8.4.7. Benelux
- 8.4.7.1. Application
- 8.4.8. Nordics
- 8.4.8.1. Application
- 8.4.9. Rest of Europe
- 9. Middle East & Africa Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By System Type (USD)
- 9.2.1. Touchless
- 9.2.2. Touched
- 9.3. By Application (USD)
- 9.3.1. Human-computer Interaction
- 9.3.2. Gaming
- 9.3.3. Virtual Reality
- 9.3.4. Robotics
- 9.3.5. Healthcare
- 9.3.6. Automotive
- 9.3.7. Others
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. Application
- 9.4.2. Israel
- 9.4.2.1. Application
- 9.4.3. GCC
- 9.4.3.1. Application
- 9.4.4. North Africa
- 9.4.4.1. Application
- 9.4.5. South Africa
- 9.4.5.1. Application
- 9.4.6. Rest of MEA
- 10. Asia Pacific Gesture Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By System Type (USD)
- 10.2.1. Touchless
- 10.2.2. Touched
- 10.3. By Application (USD)
- 10.3.1. Human-computer Interaction
- 10.3.2. Gaming
- 10.3.3. Virtual Reality
- 10.3.4. Robotics
- 10.3.5. Healthcare
- 10.3.6. Automotive
- 10.3.7. Others
- 10.4. By Country (USD)
- 10.4.1. China
- 10.4.1.1. Application
- 10.4.2. India
- 10.4.2.1. Application
- 10.4.3. Japan
- 10.4.3.1. Application
- 10.4.4. South Korea
- 10.4.4.1. Application
- 10.4.5. ASEAN
- 10.4.5.1. Application
- 10.4.6. Oceania
- 10.4.6.1. Application
- 10.4.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Intel Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Jabil Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Microchip Technology Inc.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Sony Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Elliptic Laboratories ASA
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. GestureTek
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Microsoft Corporation
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Google LLC
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Cipia Vision Ltd.
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Ultraleap
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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