Multiple Sclerosis Drugs Market Future Scope and Trends in the United States

The global multiple sclerosis drugs market size was worth USD 23.68 billion in 2021. The market valuation is projected to increase from USD 25.43 billion in 2022 to USD 33.17 billion by 2029 at a CAGR of 3.9% during 2022-2029. In recent years, the incidence of multiple sclerosis has increased significantly. According to the Multiple Sclerosis International Federation, the number of multiple sclerosis patients reached 2.8 million in 2020, up from 2.3 million in 2013. Increasing federal funding and accelerated R&D efforts to address the increasing occurrence of multiple sclerosis will positively impact the market growth.

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Regional Insights-

North America to Hold Dominant Share Led by Expanding R&D

North America dominated the global multiple sclerosis drugs market share in 2021 with a revenue worth USD 11.36billion. Key factors supporting the regional growth are increasing R&D and novel product launches.

The European market is anticipated to hold the second largest share in the market, supported by active government investments and a favorable reimbursement scenario. Meanwhile, the market in Asia Pacific will be driven by the growing number of collaborations between biotech companies.

Competitive Landscape-

Major Market Players Seek Regulatory Approvals to Expand Market Share

Leading players involved in the development of multiple sclerosis drugs include Biogen and F. Hoffmann-La Roche Ltd. Growing R&D and regulatory approvals for novel solutions are key factors for the dominance of these companies. For instance, Biogen received the marketing approval from the European Commision for the injection of TYSABRI (natalizumab) in April 2021. Other key players include Sanofi, Novartis AG, and MErck KGaA.

List of Key Market Players:

●       Biogen (U.S.)

●       Pfizer Inc. (U.S.)

●       F. Hoffmann-La Roche Ltd. (Switzerland)

●       Novartis AG (Switzerland)

●       Merck & Co., Inc. (U.S.)

●       Sanofi (France)

●       Teva Pharmaceutical Industries Ltd. (Israel)

●       Janssen Pharmaceuticals, Inc. (Johnson & Johnson Corporation) (New Jersey)

●       Bristol-Myers Squibb Company (U.S.)

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