Multiple Sclerosis Drugs - Baltics

In the Baltics, the Multiple Sclerosis Drugs market is anticipated to witness a significant increase in revenue, with projections indicating a value of US$17.82m in 2024.
This market is expected to exhibit a steady growth rate, with a Compound Annual Growth Rate (CAGR) of 1.43% between 2024 and 2029.
Consequently, the market volume is forecasted to reach US$19.13m by 2029.
When compared to global figures, it is noteworthy that United States is projected to generate the highest revenue in this market.
In 2024, United States is expected to generate a revenue of US$11.77bn.
"Despite being a small market, the Baltics have witnessed a steady increase in the availability and accessibility of Multiple Sclerosis drugs, improving the quality of life for patients in the region."

Definition:
This market covers drugs to treat the neurological autoimmune disease multiple sclerosis. As there is no cure for multiple sclerosis, the goal is to improve functions after an attack or to prevent attacks. Different types of medication include immunomodulators, immunosuppressants, and interferons. Monoclonal antibodies are now being increasingly used.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Biogen, Roche, Novartis, Sanofi

Drugs to treat multiple sclerosis
Monoclonal antibodies
Immunosuppressants

Monoclonal antibodies and immunosuppressants for the treatment of other diseases
Treatment of other autoimmune diseases
Alternative medicine

The Multiple Sclerosis Drugs market in Baltics has been experiencing steady growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in Baltics have been increasingly seeking out newer and more effective treatments for their condition. There is a growing preference for drugs that not only alleviate symptoms but also slow down the progression of the disease.

Trends in the market: The Multiple Sclerosis Drugs market in Baltics has been witnessing a shift towards the use of oral medications, with patients preferring the convenience and ease of use that they offer. In addition, there has been a growing trend towards the use of biosimilars, which are cheaper versions of biologic drugs that have been shown to be just as effective.

Local special circumstances: The Baltic region is home to a high number of Multiple Sclerosis patients, with Estonia having one of the highest prevalence rates in the world. This has led to a greater focus on research and development of drugs specifically targeted towards this market.

Underlying macroeconomic factors: The economic growth in the Baltics has been a key driver of the Multiple Sclerosis Drugs market. As the economy continues to grow, more people are able to afford the high cost of these drugs, leading to increased demand. In addition, the region's healthcare infrastructure has been improving, making it easier for patients to access these drugs.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.