The North America Multiple Sclerosis Therapeutics Market is expected to reach US$ 15,269.74 million by 2027 from US$ 9,144.98 million in 2019; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027. The growth of the market is attributed to a few key driving factors such as the increasing prevalence of multiple sclerosis and rising funding for multiple sclerosis research. However, the high cost of the multiple sclerosis treatment hinders the market growth.

North America Multiple Sclerosis Therapeutics Market Overview

Multiple sclerosis (MS) is an autoimmune disorder affecting the central nervous system and a prevalent cause of neurological disability, particularly among individuals aged 20 to 50 years. This potentially debilitating condition disrupts the body's communication and coordination functions. A 2017 study by the National Multiple Sclerosis Society indicated a significant prevalence of MS in the US, with approximately one million adults (up to 913,925) affected. This increasing prevalence is a key driver for the growth of the North America multiple sclerosis therapeutics market.  

Increased funding and extensive research initiatives are underway to develop innovative medicines and treatments for MS, as well as to identify its underlying causes. Organizations such as the National Institute of Neurological Disorders and Stroke, the National MS Society, and the Parkinson’s Action Network are actively engaged in efforts to create novel therapies for this condition, further fueling market expansion.  

The growing number of COVID-19 cases in North America has presented challenges, with patients suffering from chronic conditions like neurological diseases experiencing treatment delays. Consequently, some companies have scaled back clinical trial activities and postponed product launches. However, the pandemic has also spurred initiatives within the US to investigate the neurological manifestations of COVID-19. Collaborative efforts among companies and research institutions are focused on accelerating research into the diagnosis, prevention, and treatment of neurological complications arising from COVID-19. These factors are exerting a positive, albeit complex, influence on the North America multiple sclerosis therapeutics market.

Strategic Insights for the North America Multiple Sclerosis Therapeutics Market

Strategic insights for the North America Multiple Sclerosis Therapeutics market offer a data-driven analysis of the industry's landscape, encompassing current trends, key market participants, and regional specificities. These insights provide actionable recommendations, enabling stakeholders to gain a competitive edge by identifying underserved segments or developing differentiated value propositions. By leveraging data analytics, these insights assist industry players—including investors, manufacturers, and others—in anticipating market shifts. A forward-looking perspective is crucial for stakeholders to proactively position themselves for sustained success in this evolving region. Ultimately, well-informed strategic insights empower readers to make sound decisions that enhance profitability and achieve their business objectives within the market.

NORTH AMERICA MULTIPLE SCLEROSIS THERAPEUTICS MARKET SEGMENTATION

North America Multiple Sclerosis Therapeutics Market By Drug Class

• Immunosuppressant

• Immunomodulators

North America Multiple Sclerosis Therapeutics Market By Route of Administration

• Injectable

• Oral

North America Multiple Sclerosis Therapeutics Market By Distribution Channel

• Hospital Pharmacies

• Retail Pharmacies

• E-Commerce

North America Multiple Sclerosis Therapeutics Market By Country

• US

• Canada

• Mexico

North America Multiple Sclerosis Therapeutics Market Company Profiles

• Merck & Co., Inc.

• Novartis AG

• Bayer AG

• Sanofi

• Bristol-Myers Squibb Company

• Horizon Therapeutics plc

• TEVA PHARMACEUTICAL INDUSTRIES LTD

• Takeda Pharmaceutical Company Limited

• F. HOFFMANN-LA ROCHE LTD

• Biogen

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights