US Multiple Sclerosis Market size was valued at USD 13,957.7 million in 2022 and is expected to grow at a 6.2% CAGR from 2023 to 2029. Multiple sclerosis is an immune-related disease affecting the central nervous system. Multiple sclerosis is a chronic demyelinating disease in the central nervous system that may significantly cause disability in adults. The inflammation and scarring of myelin sheaths covering the nerves causes multiple sclerosis. The increasing prevalence of multiple sclerosis has increased the demand for effective diagnosis and treatment of multiple sclerosis in the US. According to National Multiple Sclerosis Society USA, approximately 1 million people are living with Multiple Sclerosis in the United States. Multiple sclerosis prevalence has increased in every region since 2013 .The government is also supporting the treatment of multiple sclerosis by raising funds and creating awareness in the public. The key drivers in the growth of US multiple sclerosis market are increasing focus on research and development in order to develop innovative drugs in the market. The major challenge in this treatment is the unknown etiology of the disease which is expected to hinder the market growth in the forecasted period. However, the growing focus of companies on the pipeline drugs for multiple sclerosis is also boosting the multiple sclerosis market growth in US. Biogen, a leading pharmaceutical company in theUS has been developing orelabrutinib, and currently is in the clinical trial phase 2. Moreover, Novartis has been developing remibrutinib which is also currently in the clinical trial phase 3 for the treatment of multiple sclerosis.
In June 2022, Sandoz launched a generic drug named Dimethyl Fumarate Hexal, approved for relapsing-remitting multiple sclerosis treatment for adults.
In March 2021, Jansenn Pharmaceuticals, announced US FDA approval for Ponvory, a oral selective sphingosine-1-phosphate receptor 1 modulator to treat relapsing multiple sclerosis in adults.
In September 2021, TG therapeutics, announced the submission of Biologics license application to US FDA requesting for the approval of ublituximab.
Fastest Growing Market
US Multiple sclerosis market is growing due to the increasing prevalence of multiple sclerosis has increased the demand for effective diagnosis and treatment of multiple sclerosis in US. Huge investments done by the key players in research and development of the innovative drugs drives the multiple sclerosis market in the region. In addition, the government also supporting in the treatment of multiple sclerosis in this region. The introduction of disease modifying drug is expected to fuel the market growth in the forecasted period. The immunomodulators are expected to grow at a significant rate in the forecasted period.
The US Multiple sclerosis market size was valued at USD 13,957.7 million in 2022.
The key driving factors of the US multiple sclerosis market is increase in prevalence on multiple sclerosis and the rising investment of key player in research and development for the innovation of new drugs.
The leading players in the global US Multiple sclerosis market are Biogen, Pfizer Inc., F. Hoffmann-La Roche Ltd., Novartis AG, Merck & Co, Sanofi, Teva Pharmaceuticals, Jansenn Pharmaceuticals Inc., Bristol-Meyers Squibb Company
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast presented from 2023– 2029.