Multiple sclerosis (MS) is a progressive autoimmune disorder that involves damage to the central nervous system. The progressive form of MS currently lacks an effective treatment. Identifying reliable biomarkers for MS is essential for improving diagnosis, tracking disease progression, and assessing treatment outcomes. Recent developments in important biomarker categories are examined in this article, including neurofilament light chain (NfL), a sensitive indication of neurodegeneration and disease status. The integration of artificial intelligence and machine learning is expediting the analysis of complex datasets from genetic and neuroimaging research. Electrochemical nano-biosensors and wearable biosensors are under development to aid in the early detection and treatment of MS. In this article, the second part discusses patent analysis using Patentscope (a patent database from the World Intellectual Property Organization), Google Patents, and Lens.org. It showed that around 2,081 patents have been published globally on MS diagnostics and treatment since 1980. The United States Patent and Trademark Office has observed a record high in patent publications, with 746. These records were followed by the European Patent Office (267), Canada (251), Australia (232), India (47), and others. Furthermore, to understand future trends in biomarker and biosensor technology, the top global players were identified: Teva Pharma Industry Ltd., Novartis AG, Genentech Inc., and Biogen MA Inc. The last part of this review discusses policy interventions for MS diagnosis and treatment that have significant implications for individuals, healthcare systems, and societies in addressing Sustainable Development Goals 3, 4, 5, 10, and 13.