Multiple Sclerosis Drug Market Trends

Growth Drivers

• Higher Number of People Suffering from Multiple Sclerosis - MS (Multiple Sclerosis) occurs at any age, the initial range is most often between the ages of 20 and 40. However, individuals of various ages are affected. The prevalence of multiple sclerosis has increased worldwide. According to the National Library of Medicine, the prevalence of sclerosis is 35.9 per 100,000 people and 2.8million people are suffering from multiple sclerosis in 2020.
• Government Support for the Sclerosis Patient - With the rising number of sclerosis patients, the government has come forward to aid the treatment of the patients. Under the Anuyatra project launched by the Kerala government, India, the government has sanctioned nearly USD 116 thousand for the treatment of sclerosis. Moreover, in 2021, the 4 nations of the United Kingdom launched a Rare Disease Action Plan to address all rare diseases including multiple sclerosis.
• Growing Research and Development in the Treatment of Sclerosis – Owing to the exceptional research, the development in sclerosis diagnosis, drugs, and treatment is incessantly rising. For instance, Adamas Pharmaceuticals, Inc., has announced the beginning of phase 3 of the safety and efficiency of ADS-5102 in patients with multiple sclerosis and walking impairment.
• Rapid Growth of the Healthcare Sector - Healthcare sector was always a booming sector and it has been further loaded after the onset of COVID-19. The exigency of good healthcare facilities has aided its growth. According to the World Economic Forum, in 2021, USD 44 billion of the fund was raised for health innovation.
• Increasing Prevalence of Multiple Sclerosis Among Women - Women are more prone to multiple sclerosis. More women are diagnosed with sclerosis than men. The ratio of men and women with multiple sclerosis is 1:4.

Challenges

• Expensive Treatment and Drugs of Multiple Sclerosis - The cost of treatment and drugs is a big hindrance to the multiple sclerosis drug market growth. Despite of government’s proactive actions for the progress of multiple sclerosis treatment. The high price of medicines fails to suffice the needs of the market. Depending on the patient's age and gender, the cost of an MS (Multiple Sclerosis) disease-modifying therapy ranged from USD 57,202 to USD 92,719 per year.
• Shortage of Skilled Professionals & Lack of Healthcare Infrastructure
• Difficulty in Developing Drugs due to Unidentified Etiology of the Disease