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 6.6% 2019-2027. 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. Multiple sclerosis (MS) is an autoimmune disease that affects the central nervous system.It is a widespread disabling neurological condition that is mostly diagnosed in people in the age group of 20–50 years.
As per the National Multiple Sclerosis Society’s study in 2017, about 1 million adults (up to 913,925) were suffering from MS in the US.Therefore, the growing prevalence of multiple sclerosis is driving the growth of the North America multiple sclerosis therapeutics market.
Due to rise in funding, extensive research is being carried on developing novel medicines and treatments for multiple sclerosis and other ways of identifying potential causes for multiple sclerosis. Various organizations such as National Institute of Neurological Disorders and Stroke, National MS Society, and Parkinson’s Action Network are undertaking extensive efforts to create novel therapies for MS, which is driving the growth of the market. North America is recording the growing number of COVID-19 cases.Patients suffering from chronic health conditions, such as neurological diseases, are reporting delays in treatment.
Several companies are cutting their clinical trial activities and delaying product launches in response to the COVID-19 pandemic.However, amid pandemic, many companies and research institutes in the US are taking an initiative to study the neurological manifestations of COVID-19.
To accelerate research into the diagnosis, prevention, and treatment of the neurological complications due to COVID-19, several initiatives have been initiated. These factors are positively influencing the North America multiple sclerosis therapeutics market to a extent. The North America multiple sclerosis therapeutics market, by drug class, is bifurcated into immunosuppressant and immunomodulators. The immunomodulators segment held a larger share of the market in 2019, whereas the immunosuppressants segment is anticipated to register a higher CAGR in the market during the forecast period. By route of administration, the North America multiple sclerosis therapeutics market is bifurcated into injectable and oral. The injectable segment held a larger share of the market in 2019, and the same segment is anticipated to register a higher CAGR in the market during the forecast period. Based on distribution channel, the North America multiple sclerosis therapeutics market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The hospital pharmacies segment held the largest share of the market in 2019, whereas the e-commerce segment is estimated to register the highest CAGR in the market during the forecast period. A few of the primary and secondary sources referred to while preparing the report on the North America multiple sclerosis therapeutics market are the Ministry of Health and Prevention (MoHAP), US Centers for Disease Control and Prevention (CDC), and National MS Society and Multiple Sclerosis Association of America (MSAA).
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