Multiple Sclerosis Drugs - Canada

Canada

The Multiple Sclerosis Drugs market in Canada is forecasted to achieve a revenue of US$0.38bn in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.03%, leading to a market volume of US$0.40bn by 2029.
When considering global comparison, United States is projected to generate the highest revenue of US$11,770.00m in 2024.
Canada's multiple sclerosis drugs market is experiencing a surge in research and development activities, leading to innovative treatments and increased patient access to advanced therapies.

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

Market

Region

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Currency

Analyst Opinion

The demand for Multiple Sclerosis Drugs in Canada has been increasing steadily in recent years.

Customer preferences: Patients with Multiple Sclerosis in Canada prefer drugs that are effective in reducing the frequency and severity of relapses, delaying disease progression, and improving their quality of life. They also prefer drugs that have fewer side effects and are easy to administer.

Trends in the market: The Multiple Sclerosis Drugs market in Canada is expected to grow due to the increasing prevalence of Multiple Sclerosis in the country. The aging population and the growing awareness of the disease are also contributing to the growth of the market. In addition, the introduction of new drugs with better efficacy and safety profiles is driving the growth of the market. The market is also witnessing a shift towards oral drugs, which are more convenient for patients than injectable drugs.

Local special circumstances: The Canadian healthcare system provides universal access to healthcare, including the provision of drugs for the treatment of Multiple Sclerosis. The government also provides financial assistance to patients who cannot afford the cost of drugs. This has made the drugs more accessible to patients and has contributed to the growth of the market.

Underlying macroeconomic factors: The Canadian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. The government has also been investing in research and development of new drugs for the treatment of Multiple Sclerosis. The increasing prevalence of Multiple Sclerosis in Canada has also led to an increase in demand for drugs for the treatment of the disease.

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.