Multiple Sclerosis Drugs - Albania

Albania

The Multiple Sclerosis Drugs market in Albania is expected to witness a significant increase in revenue, reaching US$1.55m by 2024.
Furthermore, it is projected to maintain a steady annual growth rate of 1.26% from 2024 to 2029, ultimately leading to a market volume of US$1.65m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, with an estimated value of US$11,770.00m in 2024.
Albania's market for Multiple Sclerosis Drugs is growing steadily, driven by increasing awareness and improved access to healthcare services.

Key regions: France, India, United Kingdom, South Korea, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Albania has been showing steady growth in recent years.

Customer preferences: Albanian customers prefer to use disease-modifying therapies (DMTs) for Multiple Sclerosis (MS) treatment. The demand for DMTs is increasing as they are effective in reducing the frequency and severity of relapses. Patients also prefer taking oral medications over injectable ones due to convenience and ease of use.

Trends in the market: The Albanian government has been taking initiatives to improve the healthcare system, which has led to an increase in the availability of MS drugs in the market. The market is dominated by the sales of interferon-beta drugs, but newer oral medications such as fingolimod and teriflunomide have also gained popularity. Due to the high cost of MS drugs, patients are increasingly turning towards biosimilars, which are cheaper alternatives to the original drugs.

Local special circumstances: Albania has a relatively high prevalence of MS compared to other countries in the region. This has led to a higher demand for MS drugs in the market. However, the country has a small population and a low GDP per capita, which limits the purchasing power of the consumers. The healthcare system is also underdeveloped, which affects the accessibility and affordability of MS drugs for the general population.

Underlying macroeconomic factors: The Albanian economy has been growing steadily in recent years, with a focus on developing the tourism and energy sectors. However, the country still faces challenges such as corruption, high unemployment rates and low levels of foreign investment. These factors affect the overall healthcare system, which in turn affects the MS drugs market. The government has been taking steps to improve the healthcare system, but much work still needs to be done to make MS drugs more accessible and affordable for the general population.

Methodology

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.