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(Health-NewsWire.Net, October 11, 2022 ) According to Precision Business Insights (PBI), the global multiple sclerosis drugs market size is projected to reach USD 23.43 billion in 2021, registering at a CAGR of 4.0% over the forecast period. Demyelination, axonal transection, and neurodegeneration are symptoms of the chronic inflammatory immune-mediated disease known as multiple sclerosis (MS), which destroys nerve cells in the brain and spinal cord. Some of the most often used treatments include physical therapy, muscle relaxants, stimulants, and injectable, oral, as well as infused medicines. Oral drugs including teriflunomide, dimethyl fumarate, and cladribine; intravenous infusion therapies like ocrelizumab; and injectable therapy like interferon-beta, glatiramer acetate, given intramuscularly or subcutaneously.
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The Multiple Sclerosis Drugs Market Growth Factors
The frequency of MS and vitamin D deficiency are both increasing at an alarming rate on a global scale. According to the National Multiple Sclerosis Society, there are currently 2.3 million MS patients worldwide. This number is likely to rise in the next years, which will increase the demand for novel MS treatment discoveries with improved efficacy and fewer side effects. Additionally, because MS medications are expensive, reimbursement is a key factor in the market's expansion. For the majority of MS patients worldwide, treatment could become pricey in the absence of funding.
The Multiple Sclerosis Drugs Market Segmentation
The Global Multiple Sclerosis Drugs Market on the basis of Administration, the market is segregated into Oral and Parenteral. On the basis of Distribution Channel, the market is categorized into Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy. On the basis of Drug Class, the market is classified into Disease Modifying Drugs (DMDs), Steroids, and Others.
The Multiple Sclerosis Drugs Market Trends
• Due to favorable health reimbursement policies, Europe is anticipated to hold a significant position in the multiple sclerosis medications market size and share over the projection period.
• Approximately 2.5 million individuals worldwide have MS, and the number is anticipated to rise in the coming years, according to the National Multiple Sclerosis Society, which is driving up the demand for creative approaches to MS drug research.
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The Multiple Sclerosis Drugs Market Regional Analysis
Due to the disease's increasing incidence in this region, North America currently controls the multiple sclerosis market. The increased attention of significant market participants on emerging technology will also accelerate the market's growth rate in this area. As a result of its increasing population and rising healthcare costs, Asia-Pacific is anticipated to expand between 2022 and 2028.
The major players operating in the Multiple Sclerosis Drugs Market are Novartis AG (Switzerland), Teva Pharmaceutical industries Ltd. (Israel), Biogen, Inc. (U.S.), Merck & Co., Inc. (U.S.), Sanofi (France), Acorda Therapeuitics (U.S.), Pfizer Inc. (U.S.), Bayer AG (Germany), Medtronic plc (Questcor Pharmaceuiticals) (U.S.)
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