Multiple Sclerosis Drugs - Belgium

Belgium

Highlights

The Multiple Sclerosis Drugs market in Belgium is expected to achieve a revenue of US$109.30m by the year 2024.
Furthermore, it is projected to experience a compound annual growth rate (CAGR 2024-2029) of 0.58%, leading to a market volume of US$112.50m by the year 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$11.77bn in 2024.
Belgium's Multiple Sclerosis Drugs market is witnessing a surge in research and development activities, leading to innovative treatment options for patients.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in Belgium has been experiencing steady growth in recent years, driven by a combination of factors including customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Belgian customers have shown a growing preference for innovative drugs that offer more effective treatment options for Multiple Sclerosis. This has led to an increase in demand for newer drugs that are more targeted and have fewer side effects. Additionally, patients are looking for drugs that are easy to administer and have a high level of efficacy.

Trends in the market: The Multiple Sclerosis Drugs market in Belgium has been witnessing a trend towards the development of more targeted therapies. This has led to the introduction of new drugs that are designed to treat specific types of Multiple Sclerosis, such as relapsing-remitting Multiple Sclerosis (RRMS). In addition, the market has seen an increase in the use of combination therapies, where two or more drugs are used together to treat the disease.

Local special circumstances: Belgium has a high prevalence of Multiple Sclerosis, with an estimated 10,000 to 12,000 people living with the disease. This has led to a strong demand for drugs that can effectively treat the disease and improve patients' quality of life. Additionally, the country has a well-established healthcare system that provides access to high-quality medical care for all citizens.

Underlying macroeconomic factors: The Belgian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has created a favorable environment for the development and marketing of new drugs, including those for Multiple Sclerosis. Additionally, the government has implemented policies to encourage the development of innovative drugs and to make them more accessible to patients. These factors have contributed to the growth of the Multiple Sclerosis Drugs market in Belgium.

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.