Multiple Sclerosis Therapeutics Market size is expected to be valued at USD 27,534.2 million in 2022 and is expected to grow at a CAGR of 5.6% in 2022-2028. Multiple sclerosis is a chronic immune-mediated inflammatory disease that disturbs nerve cells in the brain and spinal cord, producing demyelination, neurodegeneration, and axonal transection. muscle relaxants, physical therapy, antidepressants, and injectable, infused, and oral medications are some of the most extensively used therapies. Glatiramer acetate and Interferon-beta are injectable treatments that are provided into the muscle or under the skin, oral medications are teriflunomide, cladribine, and dimethyl fumarate; and intravenous infusion therapies are ocrelizumab, natalizumab, and alemtuzumab. The growing prevalence of multiple sclerosis can lead to the growth of the multiple sclerosis therapeutics markets. Moreover, growing healthcare expenditure which facilitates in refining its infrastructure, and increasing initiatives by private and public organizations to spread awareness are some primary factors that can boost the global multiple sclerosis therapeutics markets. Apart from these, increasing initiatives by private and public organizations to increase awareness, an increase in disposable income, and a surge in the development of advanced interferon, monoclonal antibodies, immunomodulators, and immunosuppressants can also accelerate the market in the future. The growing geriatric population and incessantly changing lifestyles can also drive the global market further. However, some factors such as the high treatment cost of multiple sclerosis and the lack of skilled professionals, and the absence of good healthcare infrastructure in developing nations can restrain the growth of the market. The growing number of research and development events can create an opportunity for the growth of the global multiple sclerosis therapeutics markets.
Recent Market Developments:
In march 2021, Janssen Pharmaceutical, Inc. announced the U.S. FDA approval of Ponvory, an oral selective sphingosine-1-phosphate receptor 1 (S1P1) modulator to cure adults with relapsing forms of multiple sclerosis.
In August 2020, Novartis AG announced the U.S. Food and Drug Administration (FDA) approval of Kesimpta (ofatumumab, formerly OMB157) as a subcutaneous injection used for the treatment of relapsing forms of multiple sclerosis