Multiple Sclerosis Drugs - Austria

Austria

The revenue in the Multiple Sclerosis Drugs market in Austria is forecasted to reach US$68.24m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 1.28%, leading to a market volume of US$72.72m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$11,770.00m in 2024.
Austria has seen a significant rise in the demand for innovative Multiple Sclerosis drugs due to the country's high prevalence of the disease and strong healthcare infrastructure.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in Austria has been steadily growing in recent years, driven by various factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Patients with multiple sclerosis in Austria have a preference for disease-modifying therapies (DMTs) that can help slow down the progression of the disease. This has led to an increasing demand for DMTs, which are the mainstay of treatment for multiple sclerosis. Patients also prefer drugs that have a good safety profile and are easy to administer.

Trends in the market: One of the major trends in the Multiple Sclerosis Drugs market in Austria is the increasing use of oral DMTs. These drugs are more convenient to administer than injectable DMTs and are becoming increasingly popular among patients. Another trend is the use of biosimilars, which are cheaper versions of biologic drugs. Biosimilars are gaining popularity in Austria due to their lower cost and comparable efficacy to their branded counterparts.

Local special circumstances: Austria has a well-developed healthcare system that provides universal coverage to its citizens. This has led to a high level of access to healthcare services, including multiple sclerosis drugs. The country also has a relatively high prevalence of multiple sclerosis compared to other European countries, which has contributed to the growth of the Multiple Sclerosis Drugs market in Austria.

Underlying macroeconomic factors: The Austrian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has contributed to the growth of the Multiple Sclerosis Drugs market in Austria. The country also has a favorable regulatory environment for pharmaceuticals, which has encouraged the development and approval of new drugs for multiple sclerosis.

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.