Multiple Sclerosis Drugs - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the Multiple Sclerosis Drugs market is anticipated to achieve a revenue of US$2.49bn by 2024.
It is predicted to exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 1.18%, leading to a market volume of US$2.64bn by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$11,770.00m in 2024.
In Central & Western Europe, Germany leads the way in the Multiple Sclerosis Drugs market with its advanced research and development capabilities.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The market for Multiple Sclerosis Drugs in Central & Western Europe is an ever-evolving market that has seen significant growth in recent years.

Customer preferences: Patients in Central & Western Europe prefer disease-modifying therapies that are effective and have minimal side effects. They also prefer treatments that are convenient to use and have a low frequency of administration.

Trends in the market: Germany is the largest market for Multiple Sclerosis Drugs in Central & Western Europe, followed by France and the United Kingdom. The market is expected to continue to grow due to the increasing prevalence of Multiple Sclerosis in the region. The trend towards personalized medicine is also expected to drive growth in the market, with the development of more targeted therapies that are tailored to individual patients.

Local special circumstances: The healthcare systems in Central & Western Europe are highly developed and provide universal access to healthcare. This has led to a high demand for Multiple Sclerosis Drugs in the region. The regulatory environment in the region is also favorable for the development and approval of new drugs.

Underlying macroeconomic factors: The aging population in Central & Western Europe is a major driver of the growth in the market for Multiple Sclerosis Drugs. Multiple Sclerosis is more common in older individuals, and as the population ages, the prevalence of the disease is expected to increase. The high cost of Multiple Sclerosis Drugs is a major challenge for the market, as governments and healthcare providers seek to contain healthcare costs. However, the increasing prevalence of the disease and the development of more effective therapies are expected to continue to drive growth in the market.

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.