Understanding the Competitive Landscape of Multiple Sclerosis Drugs Market : Porter's Five Forces Analysis
The global Multiple Sclerosis (MS) drugs market size was USD 23.68 Billion in 2021 and is expected to register a revenue CAGR of 3.9% during the forecast period. Market revenue growth is primarily driven by factors such as growing prevalence of this disease across the globe and rising requirement for rapid diagnosis and treatment leading to an increase in demand for MS drugs. MS is a nervous system disease, which affects spinal cord and brain. MS damages myelin sheath, which surrounds and protects human nerve cells. It is a neurodegenerative disorder, which has no cure currently. In addition, various symptoms of this disorder include fatigue, challenges to mobility, and issues with vision. It is estimated that in the U.S. alone there are approximately 1 million individuals suffering with MS.