Key regions: France, India, United Kingdom, South Korea, Japan
As the global market for Multiple Sclerosis Drugs continues to grow, the African market is also experiencing significant development. Multiple Sclerosis (MS) is a chronic autoimmune disease that affects the central nervous system, and the African market for MS drugs is being driven by a growing demand for effective treatments for this condition.
Customer preferences: Patients in Africa are increasingly seeking out MS drugs that are not only effective but also affordable. This has led to a rise in the popularity of generic drugs, which are often less expensive than their branded counterparts. Patients are also seeking out drugs that have fewer side effects, as MS is a chronic condition that requires long-term treatment.
Trends in the market: One of the major trends in the African market for MS drugs is the increasing availability of generic drugs. As more pharmaceutical companies begin to produce generic versions of MS drugs, the cost of treatment is likely to decrease, making it more accessible to a wider range of patients. Another trend is the increasing use of disease-modifying therapies, which are designed to slow down the progression of the disease and reduce the frequency of relapses.
Local special circumstances: One of the major challenges facing the African market for MS drugs is the lack of awareness and understanding of the condition. Many people in Africa are not familiar with MS, and as a result, they may not seek out treatment until the disease has progressed to a more advanced stage. This can make it more difficult to treat and manage the condition effectively.
Underlying macroeconomic factors: The African market for MS drugs is being driven by a number of macroeconomic factors, including the growing prevalence of the disease in the region. As more people are diagnosed with MS, the demand for effective treatments is likely to increase. In addition, the growing availability of generic drugs is making treatment more affordable for patients, which is helping to drive market growth. Finally, the increasing use of disease-modifying therapies is helping to improve patient outcomes and reduce the burden of the disease on healthcare systems in the region.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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