The multiple sclerosis diagnosis and treatment market size is estimated to grow from USD 22.14 billion in 2023 to reach around USD 30.28 billion by 2032, registering a CAGR of 3.4% between 2024 and 2032.
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Report Highlights:
- The role of technology advancements in multiple sclerosis.
- Distribution of economic burden of multiple sclerosis.
- Early disease diagnosis helps multiple sclerosis patients with better prevention.
- Multiple sclerosis related product revenues of different market participants.
- Relapse-Remitting MS (RRMS) being the most common type, dominated the market in 2023 with over 70% market share.
- Medications reported a significant 81% of market share in 2023.
- Asia Pacific is predicted to be the fastest-growing region with 7.0% CAGR over the forecast period.
In February 2024, Multiple Sclerosis Australia awarded 17 new research grants totaling over $4.5 million for various projects across the country. These grants support different studies and fellowships, lasting from one to five years, all aimed at essential areas of M.S. research.
Multiple sclerosis is a typical disabling neurological disease. In young adults, symptoms usually appear between 20 and 40.
Multiple sclerosis develops when immune system cells, which generally defend us against bacteria, viruses, and unhealthy mis, attack central nervous system cells. Myelin is a substance that forms the protective sheath (myelin sheath) surrounding nerve fibers (axons).
Multiple sclerosis is a chronic disease that impacts individuals differently. A small percentage of people with multiple sclerosis will have a mild course with little to no disability. In contrast, others will have a slowly worsening disease that leads to increased disability over time. Most people with M.S., on the other hand, will experience brief periods of symptoms followed by extended periods of relative of relative passiveness (lack of activity or dormancy) with partial or complete recovery. The disease is rarely fatal, and most M.S. patients have average expectancy.
There are three main types of multiple sclerosis according to the progression of symptoms over time:
- Relapsing-remitting Multiple Sclerosis: Symptoms come and go, with periods of recovery in between. This is the most common type.
- Secondary-progressive Multiple Sclerosis: Symptoms worsen gradually over time after initially having relapses.
- Primary-progressive Multiple Sclerosis: Symptoms get worse steadily from the start without clear periods of improvement.
Increased research grants and favorable legislation are adding to the regional market’s growth. For example, in November 2023, the National Multiple Sclerosis Society allocated USD 4 million towards new research initiatives, in line with their strategy outlined in the Pathways to Cure’s roadmap. This investment is part of their annual commitment of over USD 30 million across more than 200 MS research projects worldwide.
For instance,
- In June 2022, Bristol Myers Squibb published additional analyses of the Zeposis Phase 3 DAYBREAK open-label extension and SUNBEAM trials. These studies found that early Zeposia use provided cognitive benefits for patients with relapsing from multiple sclerosis.
Early diagnosis techniques for multiple sclerosis have become increasingly important as they allow for timely treatment and management of the condition. Techniques such as Magnetic resonance imaging, cerebrospinal fluid analysis, and neurological help doctors detect multiple sclerosis in its early stages when symptoms are mild or absent. This early detection improves the patient’s prognosis and increases the demand for treatment options. With advancements in multiple sclerosis treatment, including disease-modifying therapies and symptom management strategies, more people are seeking medical care and support upon receiving a multiple sclerosis diagnosis. This increases the demand for early diagnosis techniques to improve outcomes and enhance the quality of life for individuals living with multiple sclerosis.
Multiple Sclerosis Diagnosis and Treatment Market Companies
- Siemens Healthineers AG
- General Electric Company
- F. Hoffmann-La Roche Ltd.
- Biogen Inc.
- Merck & Co., Inc.
- Novartis AG
- Sanofi S.A.
- Bristol Myers Squibb Company
- Teva Pharmaceutical Industries Ltd.
- Abbott Laboratories
Multiple Sclerosis Diagnosis and Treatment Market Segments
By Type
- Clinically Isolated Syndrome (CIS)
- Relapse-Remitting MS (RRMS)
- Primary Progressive MS (PPMS)
- Secondary Progressive MS (SPMS)
By Diagnosis
- Imaging Tests
- Spinal Fluid Analysis
- Other Tests
By Treatment
- Medications
- Injectables
- Beta Interferons
- Glatiramer Acetate
- Oral Medications
- Fingolimod
- Dimethyl Fumarate
- Teriflunomide
- Cladribine
- Diroximel Fumarate
- Siponimod Tablets
- Infusion Treatments
- Natalizumab
- Ocrelizumab
- Alemtuzumab
- Mitoxantrone
- Injectables
- Physical, Occupational or Speech Therapy
- Mental Health Counselling
By Geography
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Read Also: https://www.healthcarewebwire.com/us-home-infusion-therapy-market-size/
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