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Multiple Sclerosis Therapeutics Market Analysis & Forecast: 2025-2032

Multiple Sclerosis Therapeutics Market, By Drug Class (Beta Interferon, Corticosteroids, Monoclonal Antibodies, Antineoplastic Agent, Others), By Route of Administration (Oral, Injection, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

  • Published In : 14 Jul, 2025
  • Code : CMI1310
  • Pages :148
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical
  • Historical Range: 2020 - 2024
  • Forecast Period: 2025 - 2032

Multiple Sclerosis Therapeutics Market Size and Trends Forecast – 2025 - 2032

The multiple sclerosis therapeutics market is estimated to be valued at USD 31.39 Bn in 2025 and is expected to reach USD 41.89 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 4.2% from 2025 to 2032.

Key Takeaways of the Multiple Sclerosis Therapeutics Market

  • Based on drug class, the beta interferon segment is expected to contribute the highest share of the market with 40. 5% in 2025.
  • Based on route of administration, the oral segment is expected to contribute the highest share of the market with 48. 7% in 2025.
  • Based on distribution channel, the hospital pharmacies segment is expected to contribute the highest share of the global multiple sclerosis therapeutics market with 52. 5% in 2025.
  • North America is expected to top the global market with 36. 0% share in 2025.

Market Overview

Multiple Sclerosis Therapeutics Market Key Factors

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The multiple sclerosis therapeutics market encompasses a wide range of treatments aimed at managing and modifying the course of multiple sclerosis, a chronic autoimmune disease affecting the central nervous system. The market includes disease-modifying therapies (DMTs), symptomatic treatments, and emerging cell and gene therapies, all aimed at reducing relapse rates, slowing disease progression, and improving quality of life.

However, a primary restraint in the multiple sclerosis therapeutics market is the high cost of treatment, particularly for disease-modifying therapies (DMTs). These costs place a significant financial burden on patients and healthcare systems, especially in regions with limited insurance coverage or underfunded public health programs.

Market Concentration and Competitive Landscape

Multiple Sclerosis Therapeutics Market Concentration By Players

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Current Events and their Impact on the Multiple Sclerosis Therapeutics Market

Current Events

Description and its impact

Global Regulatory Shifts

  • Description: The European Union's Clinical Trial Regulation (CTR) mandates that all clinical trials transition to the new centralized system by January 31, 2025. This regulation is aimed at improving transparency, efficiency, and harmonization of trial processes across European Union member states.
  • Impact: Non-compliant trials face suspension, which could affect up to 30% of ongoing MS studies within the European Union. As a result, the development timelines for promising therapies—such as remibrutinib, a next-generation BTK inhibitor—may be delayed by 6 to 12 months, potentially slowing innovation and patient access to new treatments.

Technological & Economic Pressures

  • Description: Generics/Biosimilars Market Penetration: The increasing availability of generics and biosimilars—particularly alternatives to high-cost MS drugs like Copaxone—is reshaping pricing dynamics in the Asia Pacific region. Companies such as Teva and Biogen are leading the entry of lower-cost alternatives in emerging and price-sensitive markets.
  • Impact: The growing uptake of biosimilars is projected to erode 12–15% of branded MS drug revenue by 2030 in these regions. This margin pressure is expected to accelerate a shift toward innovation in next-generation disease-modifying therapies (DMTs), as manufacturers seek to maintain market share through differentiated products.

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Market Trends

Increasing Prevalence of Multiple Sclerosis Globally

The increasing global prevalence of multiple sclerosis (MS) is a significant driver for the multiple sclerosis therapeutics market, expanding the patient population requiring long-term treatment and accelerating therapeutic innovation.

According to the World Health Organization’s fact sheet on multiple sclerosis published on 7 August 2023, it is estimated that over 1.8 million people worldwide are living with MS.

Segmental Insights

Multiple Sclerosis Therapeutics Market By Drug Class

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Multiple Sclerosis Therapeutics Market Insights, By Drug Class: Cost-Effectiveness and Proven Track Record Boosts Beta Interferon Dominance

In terms of drug class, the beta interferon segment is estimated to contribute the highest market share of 40.5% in 2025, owing to its history in clinical use and proven effectiveness.

Beta interferon was one of the first treatments approved for relapsing forms of multiple sclerosis in the 1990s, providing it nearly 30 years of clinical data supporting its efficacy and safety profile. Long-term follow up studies have demonstrated beta interferon's ability to reduce relapse rates, delay disability progression, and mitigate lesions and atrophy in MRI scans compared to untreated patients.

Multiple Sclerosis Therapeutics Market Insights, By Route of Administration: Convenience Drives the Preference for Oral Route

In terms of route of administration, the oral segment is estimated to contribute the highest market share of 48.7% in 2025, due to the clear convenience it offers over injections.

Multiple sclerosis is a chronic condition that requires lifelong management, making the prospect of regular injection-based therapies understandably unappealing for many people. The ability to take a simple pill provides patients a discretion and ease of use that aligns better with their daily lives and sense of normalcy outside of disease treatments.

Multiple Sclerosis Therapeutics Market Insights, By Distribution Channel: Expansive Resources Fuel Hospital Pharmacies Segment Dominance

In terms of distribution channel, hospital pharmacies segment is estimated to contribute the highest market share of 52.5% in 2025, owing to their expansive resources and specialized services.

As medical hubs with neurology departments, hospitals are uniquely positioned to support multiple sclerosis patients. Hospital pharmacies leverage connections to multiple sclerosis treatment teams to coordinate complex medication regimens, providing patients convenient one-stop-shop access to specialty drugs alongside medical guidance.

Emerging Innovations in the Multiple Sclerosis Therapeutics Market

  • Advancements in Molecular Biology
    • Advancements in molecular biology, immunology, and neuroimaging have catalyzed the development of novel therapeutic modalities. One example is the advent of therapies targeting B cells, a subset of immune cells implicated in MS pathology. Agents like anti-CD20 monoclonal antibodies have demonstrated superior clinical benefits by specifically depleting pathogenic B cells while sparing other immune components. This innovation marks a departure from older treatments that broadly modulated the immune system, often compromising patient immunity.
  • Stem Cell Therapies
    • Stem cell therapies represent another frontier with transformational potential in MS treatment. Hematopoietic stem cell transplantation (HSCT) has emerged as a promising option for aggressive or treatment-refractory cases. By “resetting” the patient’s immune system, HSCT aims to halt autoimmune attacks and promote neurological repair. Although challenges remain regarding safety and patient selection, ongoing refinement of transplantation protocols and immunoablation regimens is improving therapeutic outcomes.

Artificial Intelligence (AI) Impacts in the Multiple Sclerosis Therapeutics Market

Artificial Intelligence (AI) is rapidly transforming the landscape of healthcare, and the multiple sclerosis therapeutics market is no exception. By integrating AI-driven technologies, companies are enhancing drug development, personalized treatment, and patient monitoring.

  • Biogen launched the "MS PATHS" (Multiple Sclerosis Partners Advancing Technology and Health Solutions) initiative, which leverages AI-powered digital tools to collect and analyze real-world data from MS patients. Through AI-enabled assessments and predictive analytics, clinicians can better understand disease trajectories and treatment responses.
  • Qynapse employs AI tools to analyze MRI scans for MS patients, detecting subtle changes in brain lesions that may be missed by the human eye. This enhanced imaging assessment enables neurologists to monitor disease progression more accurately and adjust therapies in real time, thereby improving treatment precision.

Regional Insights

Multiple Sclerosis Therapeutics Market Regional Insights

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North America Multiple Sclerosis Therapeutics Market Analysis and Trends

North America dominates the multiple sclerosis therapeutics market with an estimated market share of 36.0% in 2025. The U.S. accounts for the major share, due to high healthcare expenditures and early availability of new drugs in the country. Several leading biopharmaceutical companies have strategically located their research centers in the U.S. to benefit from the large patient pool and streamlined clinical trial process.

For instance, according to a report by HCAH, in June 2025, Multiple Sclerosis (MS) remains one of the most common causes of neurological disability in young adults. As of 2025, over one million people in the U.S. alone are living with MS.

Asia Pacific Multiple Sclerosis Therapeutics Market Analysis and Trends

Asia Pacific is identified as the fastest growing regional market for multiple sclerosis therapeutics in the coming years. Rising incidence of multiple sclerosis cases combined with improving access to healthcare infrastructure and services in countries like China, Japan, and India is boosting the demand for therapeutics. Local pharmaceutical companies have ramped up their capabilities to cater to the domestic requirements with affordable generic drugs.

According to WHO’s Atlas of MS (2020), multiple sclerosis remains relatively uncommon across Southeast Asia, with prevalence typically estimated at around 2–3 per 100,000 population. In China, the Global Burden of Disease study (2019) reports an age‑standardized prevalence of approximately 2.32 per 100,000. Evidence from Korea shows similar figures (~3.2–3.6 per 100,000), while Japan has exhibited a notably higher prevalence, rising to about 23 per 100,000 by 2021. Female predominance is consistently observed, especially in Southeast Asia.

Japan Multiple Sclerosis Therapeutics Market Analysis and Trends

Japan holds a unique position as the second largest pharmaceutical market in Asia, due to its high medical costs and universal healthcare coverage. Majority of new multiple sclerosis drugs in the international markets are quickly made available in Japan with the support of National Health Insurance program.

In Japan, compared to Western countries, the prevalence of MS is significantly lower, and the current estimated prevalence is 10/100,000. The advent of disease-modifying drugs (DMDs) has made it possible to prevent relapse and suppress the progression of physical disabilities.

U.S. Multiple Sclerosis Therapeutics Market Analysis and Trends

The U.S. drives a significant portion of the global multiple sclerosis therapeutics market, fueled by high disease prevalence, strong healthcare infrastructure, and substantial investment in R&D. The presence of major pharmaceutical players and a favorable reimbursement environment contribute to rapid adoption of novel therapies, including high-efficacy monoclonal antibodies and oral DMTs.

Germany Multiple Sclerosis Therapeutics Market Analysis and Trends

Germany is a key driver in the Europe multiple sclerosis therapeutics market, due to its well-established universal healthcare system and emphasis on early diagnosis and continuous disease management. Government-supported initiatives for MS research, coupled with the availability of both branded and biosimilar drugs, have increased treatment accessibility. Germany also serves as a strategic hub for clinical trials, particularly for progressive MS, making it attractive for pharmaceutical innovation and partnerships.

Brazil Multiple Sclerosis Therapeutics Market Analysis and Trends

Brazil is emerging as a key driver in the Latin America multiple sclerosis market, due to government-funded healthcare programs that provide access to high-cost therapies. The Unified Health System (SUS) includes MS treatments in its formulary, which has helped expand treatment coverage. Furthermore, the country has seen a rise in neurological centers of excellence and public-private partnerships aimed at increasing access to DMTs, especially in urban regions, supporting long-term market growth.

Pricing Analysis of the Multiple Sclerosis Therapeutics Market

  • Geographic & Market Variations
    • U.S.: The U.S. remains the most expensive market with annual DMT costs often exceeding USD 90,000 for oral and infusion drugs. Limited price regulation and complex insurance systems escalate patient out-of-pocket costs despite manufacturer assistance.
    • Europe: Due to stronger pricing regulatory mechanisms and biosimilar penetration, prices tend to be 20-40% lower than in the U.S. National health systems negotiate prices or utilize tenders.
    • Emerging Markets: Pricing varies widely; branded products may be largely unaffordable without subsidies, and access to generics/biosimilars is critical. Local market competition drives some price reductions.
    • Insurance Impact: For insured patients, co-pays and deductibles define actual payments. Patient assistance programs (co-pay cards, subsidies) have substantial influence on accessibility.

Market Report Scope

Multiple Sclerosis Therapeutics Market Report Coverage

Report Coverage Details
Base Year: 2024 Market Size in 2025: USD 31.39 Bn
Historical Data for: 2020 To 2024 Forecast Period: 2025 To 2032
Forecast Period 2025 to 2032 CAGR: 4.2% 2032 Value Projection: USD 41.89 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Drug Class: Beta Interferon, Corticosteroids, Monoclonal Antibodies, Antineoplastic Agent, and Others
  • By Route of Administration: Oral, Injection, and Others
  • By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies
Companies covered:

Biogen Inc., Novartis AG, Merck KGaA, Sanofi S. A., Acorda Therapeutics, Inc., Teva Pharmaceuticals Industries Ltd., Bristol-Myers Squibb Company, Bayer AG, F. Hoffmann-La Roche AG, Viatris Inc. (Mylan NV), Johnson & Johnson, EMD Serono, Inc., TG Therapeutics, Inc., Genentech, Inc., Celgene Corporation, AbbVie Inc., Amgen Inc., UCB S.A., Sandoz (a Novartis division), and Ipsen S.A.

Growth Drivers:
  • Rising prevalence of multiple sclerosis
  • Availability of different treatment options
Restraints & Challenges:
  • High treatment cost
  • Stringent regulatory frameworks

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Multiple Sclerosis Therapeutics Industry News

  • In March 2025, Novartis will present data from studies across its neuroscience portfolio, including seven-year disability outcomes and safety data from the ALITHIOS open-label extension trial of Kesimpta (ofatumumab) in people with relapsing multiple sclerosis (RMS), at the American Academy of Neurology (AAN) 2025 Annual Meeting. Additional data on Kesimpta and pipeline assets including remibrutinib and iptacopan will also be highlighted.
  • In April 2025, the New England Journal of Medicine (NEJM) published positive results from the HERCULES phase 3 study demonstrating that tolebrutinib delayed disability progression in people with non-relapsing secondary progressive multiple sclerosis (nrSPMS), where there are currently no treatment options approved.
  • In April 2025, Roche announced that the Phase III MUSETTE trial comparing a high dose of OCREVUS (ocrelizumab) intravenous (IV) infusion to the currently approved OCREVUS IV 600 mg dose in people with relapsing multiple sclerosis (RMS) did not meet its primary endpoint in showing additional benefit in slowing disability progression, as measured by a composite disability endpoint over a period of at least 120 weeks of treatment.
  • In May 2025, TG Therapeutics, Inc. announced the presentations of data highlighting BRIUMVI (ublituximab-xiiy) in patients with relapsing forms of multiple sclerosis (RMS), at the 2025 Consortium of Multiple Sclerosis Centers (CMSC) annual meeting.

Analyst View

  • The Multiple Sclerosis Therapeutics Market is characterized by dynamic innovation and evolving treatment paradigms, though it faces significant challenges. Key drivers include the rising global prevalence of MS, particularly among young adults and women, which is accelerating diagnosis rates and treatment demand. Advancements in therapeutic modalities—such as biologics, monoclonal antibodies, and oral therapies—are enhancing efficacy and patient convenience, while regulatory support for novel drugs (e.g., recent approvals like Briumvi) further propels market expansion.
  • Restraints persist, however, including the high cost of innovative therapies and complex regulatory pathways that delay market access. Reimbursement challenges in emerging economies also limit patient accessibility to advanced treatments. Moreover, the complexity of MS subtypes necessitates continuous R&D investment, increasing developmental risks for pharmaceutical companies.
  • Regionally, North America dominates due to robust regulatory frameworks, high healthcare expenditure, and early adoption of innovations. Europe shows strong growth momentum with rapid integration of new therapies. The competitive landscape is intensifying, with leading players like Novartis, Roche, and Sanofi driving innovation in disease-modifying therapies and biologics, while generics manufacturers like Teva expand accessibility.

Market Segmentation

  • By Drug Class Insights (Revenue, USD Bn, 2020 - 2032)
    • Beta Interferon
    • Corticosteroids
    • Monoclonal Antibodies
    • Antineoplastic Agent
    • Others
  • By Route of Administration Insights (Revenue, USD Bn, 2020 - 2032)
    • Oral
    • Injection
    • Others
  • By Distribution Channel Insights (Revenue, USD Bn, 2020 - 2032)
    • Hospital Pharmacies
    • Retail Pharmacies
    • Online Pharmacies
  • By Regional Insights (Revenue, USD Bn, 2020 - 2032)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC Countries
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • North Africa
      • Central Africa
  • Key Players Insights
    • Biogen Inc.
    • Novartis AG
    • Merck KGaA
    • Sanofi S. A.
    • Acorda Therapeutics, Inc.
    • Teva Pharmaceuticals Industries Ltd.
    • Bristol-Myers Squibb Company
    • Bayer AG
    • Hoffmann-La Roche AG
    • Viatris Inc. (Mylan NV)
    • Johnson & Johnson
    • EMD Serono, Inc.
    • TG Therapeutics, Inc.
    • Genentech, Inc.
    • Celgene Corporation
    • AbbVie Inc.
    • Amgen Inc.
    • UCB S.A.
    • Sandoz (a Novartis division)
    • Ipsen S.A.

Sources

Primary Research Interviews

  • Pharmaceutical executives involved in MS drug development
  • Neurologists and MS-specialized healthcare providers
  • MS patient advocacy group representatives
  • Healthcare policy analysts
  • Others

Databases

  • WHO Global Health Observatory
  • Others

Magazines

  • Pharmaceutical Executive
  • The Pharma Letter
  • Fierce Pharma
  • BioPharma Reporter
  • Others

Journals

  • Multiple Sclerosis Journal
  • Journal of Neuroimmunology
  • The Lancet Neurology
  • Others

Newspapers

  • Financial Times Health Section
  • STAT News
  • Bloomberg Pharma & Healthcare
  • Reuters Health News
  • Others

Associations

  • National Multiple Sclerosis Society (NMSS)
  • Multiple Sclerosis International Federation (MSIF)
  • World Health Organization (WHO) Neurology Division
  • European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS)
  • Others

Public Domain Sources

  • FDA Drug Approval Reports
  • European Medicines Agency (EMA) Public Assessment Documents
  • WHO International Clinical Trials Registry Platform
  • Others

Proprietary Elements

  • CMI Data Analytics Tool – Multiple Sclerosis Therapeutics Market
  • CMI Existing Repository of Information for the Last 8 Years

*Definition: Global multiple sclerosis therapeutics market focuses on treating multiple sclerosis (MS), a demyelinating disease in which the insulating covers of nerve cells in the brain and spinal cord are damaged. This market includes drugs for relapsing-remitting MS, primary progressive MS, and secondary progressive MS such as immunomodulators, immunotherapy, corticosteroids, and others. The goal of treatments is to reduce frequency of relapses and slow progression of disability.

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About Author

Ghanshyam Shrivastava - With over 20 years of experience in the management consulting and research, Ghanshyam Shrivastava serves as a Principal Consultant, bringing extensive expertise in biologics and biosimilars. His primary expertise lies in areas such as market entry and expansion strategy, competitive intelligence, and strategic transformation across diversified portfolio of various drugs used for different therapeutic category and APIs. He excels at identifying key challenges faced by clients and providing robust solutions to enhance their strategic decision-making capabilities. His comprehensive understanding of the market ensures valuable contributions to research reports and business decisions.

Ghanshyam is a sought-after speaker at industry conferences and contributes to various publications on pharma industry.

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Frequently Asked Questions

The multiple sclerosis therapeutics market is estimated to be valued at USD 31.39 Bn in 2025, and is expected to reach USD 41.89 Bn by 2032.

The CAGR of the multiple sclerosis therapeutics market is projected to be 4.2% from 2025 to 2032.

Rising prevalence of multiple sclerosis and availability of different treatment options are the major factors driving the growth of the global multiple sclerosis therapeutics market.

High treatment cost and stringent regulatory frameworks are the major factors hampering the growth of the global multiple sclerosis therapeutics market.

In terms of drug class, the beta interferon segment is estimated to dominate the market in 2025.

Biogen Inc., Novartis AG, Merck KGaA, Sanofi S. A., Acorda Therapeutics, Inc., Teva Pharmaceuticals Industries Ltd., Bristol-Myers Squibb Company, Bayer AG, F. Hoffmann-La Roche AG, Viatris Inc. (Mylan NV), Johnson & Johnson, EMD Serono, Inc., TG Therapeutics, Inc., Genentech, Inc., Celgene Corporation, AbbVie Inc., Amgen Inc., UCB S.A., Sandoz (a Novartis division), and Ipsen S.A. are the major players in the multiple sclerosis therapeutics market.

North America is expected to lead the global multiple sclerosis therapeutics market in 2025.

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