Multiple Sclerosis Drugs - BRICS

BRICS

The Multiple Sclerosis Drugs market in BRICS is anticipated to achieve a projected revenue of US$3.04bn by 2024.
It is expected to display a compound annual growth rate (CAGR 2024-2029) of 1.65%, leading to a market volume of US$3.30bn by 2029.
In comparison to other countries, United States is projected to generate the highest revenue, amounting to US$11,770.00m in 2024.
In Brazil, the market for Multiple Sclerosis drugs is experiencing rapid growth due to increased awareness and government initiatives.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Multiple Sclerosis (MS) drugs in BRICS countries has been on the rise in recent years.

Customer preferences: Patients with MS in BRICS countries prefer oral medications over injectable drugs due to convenience and ease of use. This preference has led to an increase in the production and availability of oral MS drugs in the market.

Trends in the market: Brazil has seen a significant increase in the demand for MS drugs due to the country's aging population and improved access to healthcare. Russia has also experienced a rise in MS drug sales due to the increasing prevalence of the disease in the country. India and China have shown a slow but steady growth in the MS drug market due to the rising awareness of the disease and increasing healthcare expenditure.

Local special circumstances: In India, the lack of awareness and diagnosis of MS has been a major challenge for the growth of the market. However, the government's initiatives to improve healthcare infrastructure and increase awareness about the disease are expected to boost the market in the coming years. In Brazil, the high cost of MS drugs and the country's economic instability have been a hindrance to market growth.

Underlying macroeconomic factors: The increasing prevalence of MS in BRICS countries, along with the rising healthcare expenditure and improving healthcare infrastructure, are the key macroeconomic factors driving the growth of the MS drug market. Additionally, the increasing focus on research and development of new MS drugs is expected to further boost the market in the coming years. However, the high cost of MS drugs and economic instability in some countries may pose a challenge to market growth.

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.