Multiple Sclerosis Drugs - Americas

Americas

The revenue in the Multiple Sclerosis Drugs market is forecasted to reach US$12.97bn in 2024.
This market is expected to display an annual growth rate (CAGR 2024-2029) of 0.77%, ultimately leading to a market volume of US$13.48bn by 2029.
When compared globally, United States is projected to generate the highest revenue in this market, with US$11,770.00m in 2024.
The Americas region, which includes United States, will play a significant role in shaping the future of the Multiple Sclerosis Drugs market.
In the Americas, the market for Multiple Sclerosis Drugs is witnessing a surge in research and development activities to cater to the growing patient population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The market for Multiple Sclerosis Drugs in Americas is one of the fastest-growing markets in the pharmaceutical industry. This market is driven by factors such as an increase in the prevalence of Multiple Sclerosis (MS), and the availability of advanced treatment options for the disease.

Customer preferences: Patients suffering from MS in Americas prefer drugs that are effective in reducing the frequency and severity of relapses, while also minimizing the side effects. They also prefer drugs that can be administered easily, such as oral medications or self-administered injections.

Trends in the market: The United States is the largest market for MS drugs in the Americas, followed by Canada and Mexico. The market is dominated by a few major players, who are investing heavily in research and development to introduce new and improved drugs for MS. The trend towards personalized medicine is also gaining traction in this market, with companies developing drugs that are tailored to individual patients based on their genetic makeup.In Canada, the market for MS drugs is highly regulated, with the government playing a major role in determining drug prices. This has led to a slower adoption of new drugs in the market, as manufacturers face challenges in getting their products approved and reimbursed by the government.In Mexico, the market for MS drugs is growing rapidly, driven by an increase in the number of patients diagnosed with the disease. However, the market is highly fragmented, with many smaller players operating in the market alongside the major pharmaceutical companies.

Local special circumstances: In Brazil, the market for MS drugs is still in its nascent stages, with a limited number of drugs available in the market. This is due to the high cost of these drugs, which makes them unaffordable for many patients. However, the government is taking steps to increase access to these drugs, by introducing policies that promote the use of generic drugs and by negotiating with pharmaceutical companies to reduce drug prices.

Underlying macroeconomic factors: The market for MS drugs in the Americas is expected to continue growing in the coming years, driven by factors such as an aging population, increasing awareness of the disease, and the availability of new and improved drugs. However, the high cost of these drugs remains a major challenge, especially in countries with limited healthcare budgets. The ongoing COVID-19 pandemic has also had an impact on the market, with disruptions in the supply chain and delays in clinical trials affecting the development and availability of new drugs.

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.