The North America multiple sclerosis drugs Market was worth USD 8.76 Billion in 2023 and is estimated to be growing at a CAGR of 6.81%, to reach USD 12.19 Billion by 2028.
Multiple sclerosis is a chronic, inflammatory, autoimmune disease that affects the central nervous system (CNS), particularly the communication between the brain and other areas of the body.
The increasing incidence of multiple sclerosis and raising funding for multiple sclerosis research are the important driving factors in the expansion of the North American multiple sclerosis drugs markets.
Other factors such as increased funding, substantial research is being conducted on establishing novel drugs and therapies for multiple sclerosis, as well as various methods of finding potential causes of multiple sclerosis, are fuelling the market growth.
Various organizations, such as the National Institute of Neurological Disorders and Stroke, the National MS Society, and the Parkinson’s Action Network, are working hard to develop new M.S. drugs which are propelling the market forward.
The prevalence of multiple sclerosis is rising at an alarming rate, posing a threat to healthcare professionals and the government. However, due to the disease’s increased prevalence, the government has been forced to take proactive actions in guidelines and recommendations.
Aside from that, government organizations are launching numerous awareness campaigns to inform patients about the many treatment alternatives available, which is expected to positively impact market growth. For people with multiple sclerosis, the American Academy of Neurology (AAN) has developed a number of guidelines for initiating, switching, and stopping disease-modifying treatments.
On the other hand, several other factors, such as genetic and environmental factors, have a role in the higher prevalence of multiple sclerosis. Multiple sclerosis is also linked to autoimmune disorders such as Type 1 diabetes and certain infections, such as infectious mononucleosis. With the rising prevalence of this disease, demand for multiple sclerosis drugs is expected to rise in the future years, contributing to the market’s expansion. The rise in prevalence has increased demand for multiple sclerosis drugs, resulting in the expansion of the North America multiple sclerosis drugs market.
However, During the projection period, the high cost of the drugs used to treat multiple sclerosis would have a negative impact on the multiple sclerosis drugs market’s growth rates.
This research report on the North America multiple sclerosis drugs market has been segmented and sub-segmented into the following categories:
By Drug Class:
By Disease Type:
By Route of Administration:
By Distribution Channel:
By Country:
The North America multiple sclerosis drugs market is valued at U.S. $ 13,900.7 million. The multiple sclerosis market is expected to substantially share due to rising drug costs and demand for multiple sclerosis therapy. Also, increased research and development spending, new product launches, and increasing demand for immunosuppressants contribute to the region’s dominant position in the multiple sclerosis drugs industry. In addition, the government in this region is aggressively pursuing measures to raise awareness about the M.S. treatment and diagnosis. As a result, in North America, the United States has the largest Multiple Sclerosis Drugs Market, followed by Canada.
The U.S. is anticipated to witness a significant share in the multiple sclerosis therapy market. Availability of advanced healthcare infrastructure, increasing healthcare spending, and favorable reimbursement policies are fueling the market growth. In addition, March is designated as Multiple Sclerosis Awareness Month in the United States, with educational programs supported by government organizations such as the Multiple Sclerosis Association of America. The multiple sclerosis treatment markets in North America are expected to be boosted as a result of this.
According to the Government of Canada, around 77,000 individuals in Canada were diagnosed with multiple sclerosis in 2014-2015. Furthermore, the Global Burden of Disease Study of 2016 found that North America had the highest age-standardized multiple sclerosis prevalence of 164.6 per 100,000 people. As a result, the increase in prevalence has resulted in a surge in demand for multiple sclerosis drugs in this region, supporting the market expansion.
KEY MARKET PLAYERS:
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. are a few of the promising companies operating in the North America multiple sclerosis drugs market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1400
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region