Europe Multiple Sclerosis Drugs Market

Europe Multiple Sclerosis Drugs Market Size (2022 to 2027)

The size of the multiple sclerosis drugs market in Europe is predicted to grow USD 9.98 billion by 2027 from USD 7.26 billion in 2022, growing at a CAGR of 6.58% from 2022 to 2027.

The prevalence of multiple sclerosis is rising at an alarming rate, posing a threat to health care, professionals, and the government. Because of the disease’s rising prevalence, the government has been compelled to take proactive measures in guidelines and recommendations. Apart from that, government organizations are conducting public awareness initiatives to educate patients on the various available treatment options, which is expected to influence market growth positively. 

Multiple sclerosis is becoming more common, and funding for research into the disease is expanding, fueling the growth of the European multiple sclerosis drugs market. As a result of the increased financing, significant research is being done on developing new medications and therapies for multiple sclerosis, as various ways for identifying potential causes of multiple sclerosis. As a result, various companies are hard at work developing new multiple sclerosis medications, moving the market forward.  

Moreover, various additional factors, including genetic and environmental factors, play a role in the increased occurrence of multiple sclerosis. Multiple sclerosis has also been connected to autoimmune diseases like Type 1 diabetes and infections like infectious mononucleosis. Therefore, demand for multiple sclerosis treatments is predicted to expand in the coming years as the disease’s prevalence rises, contributing to the market’s growth. Because of the rise in prevalence, demand for multiple sclerosis drugs has increased, resulting in market expansion. In addition, product demand will rise due to increasing health expenditure per capita, promoting the market growth.

Despite increased government intervention and various treatment choices for multiple sclerosis, drug costs continue to be a key barrier to market expansion. Because of the high cost of the drugs, they are ineffective in meeting the unmet requirements of the affected people.

This research report on the European multiple sclerosis drugs market has been segmented and sub-segmented into the following categories:

By Drug Class:

• Interferon Beta
• Sphingosine 1 Phosphate Receptor Modulators
• Mixed Polymers
• NF-κB Inhibitor
• Pyrimidine Synthesis Inhibitor
• Monoclonal Antibodies
• Corticosteroids
• Adrenocorticotropic Hormone
• Others

By Disease Type:

• Relapsing-remitting MS (RRMS)
• Primary-progressive MS (PPMS)
• Secondary-progressive MS (SPMS)
• Progressive-relapsing MS (PRMS)

By Route of Administration:

• Parenteral
• Oral

By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies & Drug Stores
• Online Pharmacies

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, Europe held the second-largest share of the global multiple sclerosis drugs market in 2020, and it is projected to register significant growth during the forecast period. The market growth is attributed to the increasing prevalence of the diseases, the availability of advanced healthcare infrastructure, and favorable reimbursement policies. Further, the emerging countries in the region such as Germany, the UK, Italy, France, and Spain are significantly expanding the regional market growth with an exponential market share.

Germany accounted for the largest share of the European multiple sclerosis drugs market, and it is expected to record a predominant share during the forecast period. The proliferation of diseases, growing awareness, and high healthcare spending is propelling the market growth. In addition, government assistance, increasing demand for sclerosis drugs, and favorable healthcare reimbursement policies boost the market growth.

Similarly, the UK is more likely to showcase a significant share in the multiple sclerosis drugs market during the forecast period. The growing geriatric population, increasing healthcare spending, and rising research and development activities contribute to market growth.

On the other hand, the emerging countries in the region, such as France, Italy, and Spain, are projected to grow at a promising pace during the forecast period. This is owing to the fact that numerous corporations have built manufacturing and research facilities, improving healthcare facilities, guidelines on the use of various medications for the treatment of multiple sclerosis. In addition, growing disposable income, rising public awareness of multiple sclerosis, and its treatment and adoption of advanced technologies are uplifting the market growth.

KEY MARKET PLAYERS:

Companies playing a crucial role in the European multiple sclerosis drugs market profiled in this report are Bayer AG, Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi, F. Hoffmann-La Roche Ltd., Celgene Corporation, Acorda Therapeutics, Inc., Biogen, Inc., Actelion Pharmaceuticals (Johnson & Johnson), EMD Serono (Merck KGaA) and AbbVie, Inc.