US Multiple Sclerosis Drugs Market Report 2023 to 2030

US Multiple Sclerosis Drugs Market Analysis

$ 3999

US Multiple Sclerosis Drugs Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 ? 2030. The market for Multiple sclerosis is rising due to increase in Incidence and prevalence of multiple sclerosis (MS), Improved diagnosis and awareness, advancements in healthcare infrastructure , Advancements in Treatment Options, Expanding Pipeline of Innovative Therapies, technological advancements and increase in funding for research of multiple sclerosis. Major global players in Multiple Sclerosis Drugs Market are Abbott (U.S.), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc. (U.K.), Novartis AG (Switzerland), Biora Therapeutics, Inc. (U.S.), Bausch Health Companies Inc. (Canada), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Mylan N.V. (U.S.)

ID: IN10USRD101 CATEGORY: Rare Diseases GEOGRAPHY: US AUTHOR: Nipun Arora

Buy Now

US Multiple Sclerosis Drugs Market Analysis Summary

US Multiple Sclerosis Drugs Market is valued at around $10.31 Bn in 2022 and is projected to reach $11.8 Bn by 2030, exhibiting a CAGR of 1.7% during the forecast period 2023-2030.

Multiple sclerosis is a chronic, inflammatory, autoimmune disease affecting the central nervous system. It can result in demyelination, neurodegeneration, and axonal transection of nerve cells in the spinal cord and brain. The myelin sheath helps in the efficient conduction of electrical impulses along nerve fibres. When the myelin is damaged, the communication between the brain, spinal cord, and the rest of the body becomes disrupted. Common symptoms include fatigue, muscle weakness or stiffness, numbness or tingling sensations, coordination and balance problems, and problems with speech and swallowing. The treatment of multiple sclerosis (MS) aims to manage symptoms, slow disease progression, and improve the quality of life for individuals with the disease. Disease-Modifying Therapies (DMTs) modify the course of the disease, reduce the frequency and severity of relapses, and slow down the progression of disability. Interferon beta medications, Glatiramer acetate, Teriflunomide, Dimethyl fumarate, Natalizumab. Various medications are used to manage the symptoms like Corticosteroids, Muscle relaxants, Antidepressants, physical therapy, and supportive care like regular exercise, a healthy diet, stress management, and psychological support are regularly used. The prevalence of multiple sclerosis (MS) is rising, and funding for MS research is rising as well. These are the two reasons propelling market expansion. Novel oral drugs used for treatment represent significant advances in therapy. Major global players in Multiple Sclerosis Drugs Market are Abbott (U.S.), Bristol-Myers Squibb Company (U.S.), Teva Pharmaceutical Industries Ltd (Israel), Takeda Pharmaceutical Company Limited (Japan), Jazz Pharmaceuticals, Inc. (U.K.), Novartis AG (Switzerland), Biora Therapeutics, Inc. (U.S.), Bausch Health Companies Inc. (Canada), Pfizer Inc. (U.S.), Novartis AG (Switzerland), Mylan N.V. (U.S.)

Market Dynamics

Market Drivers

Increasing Incidence of Multiple Sclerosis

In the world, multiple sclerosis is now more prevalent. According to a study by the National Multiple Sclerosis Society, there were an estimated 1 million persons in the US who had multiple sclerosis in 2017. In 2010, there were recorded 727,344 adult cases of multiple sclerosis, with a disease rate of about 309 cases per 100,000 people. According to the Canadian government, there were more than 77,000 Canadians with multiple sclerosis who were still alive. According to the Multiple Sclerosis Society, 110,000 people in the UK have multiple sclerosis as of 2018. In addition, women are more likely than men to be diagnosed with MS. Every year, there are more new patients receiving diagnoses, which is why the

Increased Organizational R&D Activities

Market Restraints

High treatment costs, limited efficacy and variability of drugs available, adverse effects and safety concerns of drugs like gastrointestinal issues and liver abnormalities and Limited treatment options for progressive forms act as market growth restraints for Multiple Sclerosis Drugs Market

Market Developments

In 2021, The U.S. FDA gave Ponvory the green light for Janssen. This once-daily oral selective sphingosine-1-phosphate receptor 1 (S1P1) modulator is approved for use in adults with relapsing forms of multiple sclerosis (MS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.
In 2020, Novartis announced that the US FDA has authorised Kesimpta®, an injection for subcutaneous usage, for the treatment of relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive illness in adults.

Key players

Biogen Inc. Novartis AG Roche Holding AG Sanofi Genzyme Merck & Co., Inc. Bristol Myers Squibb Company Teva Pharmaceutical Industries Ltd. Johnson & Johnson Pfizer Inc. AbbVie Inc.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For US Multiple Sclerosis Drugs Market

By Route of Administration:

Oral
Injectable
Intravenous

By Treatment:

Immunosuppressants
Humira
Infliximab
Immunomodulators
Thalidomide
Lenalidomide

By End-user

Hospital and Clinics
Diagnostic Laboratories
Others

Insights10 will provide you with the reports within 10 key parameters which are:

Market Overview
Market Growth Drivers & Restraints
Epidemiology of Disease Type
Market Segmentation
Market Share
Competitive Landscape
Key Company Profiles
Healthcare Policies & Regulatory Framework
Reimbursement Scenario
Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

Establishing market drivers and trends
Analyzing the regulatory landscape to understand future growth
Market Segment based analysis to obtain revenue/volume
Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.