Multiple sclerosis treatment market to grow to $20 billion by 2024

The value of the multiple sclerosis therapeutics market will rise slowly from $17.2 billion in 2014 to around $20 billion by 2024, at a compound annual growth rate (CAGR) of 1.5%, new research indicates.

According to research and consulting firm GlobalData’s latest report, this growth, which will occur across the 10 major markets of the USA, France, Germany, Italy, Spain, the UK, Japan, Canada, China and India, will primarily be driven by the continued uptake of premium products and an increase in treatment rates as a result of the availability of novel alternatives.

Thomas Parker, GlobalData’s analyst covering neurology and ophthalmology, says: “The continued uptake of oral disease modifying therapies (DMTs) that typically have a higher annual cost of therapy and improved compliance rates, coupled with an increase of DMT treatment options that target progressive multiple sclerosis subtypes, will drive growth over the forecast period. However, the market is expected to plateau between 2018 and 2020, as the generic erosion of key branded products, such as Teva’s Copaxone [glatiramer acetate] and Novartis’ Gilenya [fingolimod], offsets the uptake of pipeline agents.”