Global Multiple Sclerosis Drugs Market Size Projected to Reach $38 Billion By 2032 as Demand on R&D for Developing Innovative Drugs Rises
Tiziana Life Sciences, Ltd. (NASDAQ: TLSA) Requests Fast Track Designation Approval From FDA for Treatment of Multiple Sclerosis -- Tiziana Life Sciences, Ltd. (“Tiziana” or the “Company”), a biotechnology company developing breakthrough immunomodulation therapies via novel routes of drug delivery, today announced it has submitted a request for intranasal foralumab to receive Fast Track Designation for the treatment of non- active, secondary-progressive multiple sclerosis (na-SPMS) to the U.S. Food and Drug Administration (FDA).
- In 2000, it was estimated by the National Multiple Sclerosis Society that around 400,000 Americans had the disease.
- The number of individuals with multiple sclerosis is rapidly increasing, and with no known cure, the demand for effective treatment has increased immensely.
- A report from Fortune Business Insights projected that the global multiple sclerosis drugs market size was valued at USD 21.33 billion in 2023 and is projected to grow from USD 21.16 billion in 2024 to USD 38.94 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period (2024-2032).
- The number of people with multiple sclerosis across the globe increased from 2.3 million in 2013 to 2.8 million in 2020, according to the Multiple Sclerosis International Federation.