The China multiple sclerosis drug market size stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.
China is expected to dominate the market in Asia-Pacific due to changing lifestyle along with increasing prevalence of multiple sclerosis. The MS incidence rate in China is 0.235 per 100,000 person-years, which is comparable with East Asian countries. There were approximately 15,060 MS patients from 2016 to 2018; amongst these patients, 9,879 were newly diagnosed. The prevalence of this disease in female is more as compared to male maintaining a strong ratio of 2.02. Residents in high-latitude and high-altitude areas are more likely to develop MS and the prevalence of one or more comorbidities induces the rate of MS.
Significant R&D investment is likely to boost the market growth. Th market is witnessing huge attraction in terms of clinical research and R&D investments. Many pharmaceutical companies are focusing on novel therapies for treating MS. The expected launch of pipeline products along with the proactive government support and recommendations are encouraging factors for many market players across the globe. Also, the growing prevalence of this disease and the awareness launched by the government to teach patients regarding the treatment options available will drive the future growth of the market.