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.
North America multiple sclerosis therapeutics market Overview and Dynamics
The growth of the multiple sclerosis (MS) therapeutics market is driven by key factors such as the rising prevalence of multiple sclerosis and increased funding for MS research. However, the high cost of MS treatments remains a significant barrier to market expansion.
According to a 2017 study by the National Multiple Sclerosis Society, nearly 1 million adults (approximately 913,925) in the U.S. were living with MS, highlighting the growing demand for effective therapies. This increasing disease burden is a major driver for the North America multiple sclerosis therapeutics market.
Additionally, rising research funding has accelerated the development of novel MS treatments and investigations into potential causes of the disease. Leading organizations such as the National Institute of Neurological Disorders and Stroke (NINDS), National MS Society, and Parkinson’s Action Network are actively supporting research efforts, further propelling market growth.
Impact of COVID-19 on the North America multiple sclerosis therapeutics market
North America has experienced a surge in COVID-19 cases, leading to delayed treatments for patients with chronic neurological conditions like MS. Many pharmaceutical companies have reduced clinical trial activities and postponed product launches due to pandemic-related disruptions.
However, several U.S.-based companies and research institutions are now focusing on studying the neurological effects of COVID-19. Initiatives aimed at understanding, diagnosing, and treating COVID-19-related neurological complications are gaining momentum, providing a moderate positive influence on the MS therapeutics market.
North America multiple sclerosis therapeutics market Introduction
Multiple sclerosis (MS) is an autoimmune disorder that affects the central nervous system (CNS), disrupting communication and coordination within the body. It is one of the most common disabling neurological conditions, primarily diagnosed in individuals aged 20–50 years. As a potentially debilitating disease, MS significantly impacts patients’ quality of life, driving the need for advanced therapeutic solutions.
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
North America multiple sclerosis therapeutics market Strategic Insights
Strategic insights for the North America Multiple Sclerosis Therapeutics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America multiple sclerosis therapeutics market Regional Insights
The geographic scope of the North America Multiple Sclerosis Therapeutics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
