Multiple Sclerosis Drugs - China

China

Highlights

In China, the revenue in the Multiple Sclerosis Drugs market is anticipated to reach US$2.27bn in 2024.
It is projected to demonstrate an annual growth rate (CAGR 2024-2029) of 1.72%, ultimately leading to a market volume of US$2.47bn by 2029.
When compared globally, United States is expected to generate the highest revenue of US$11.77bn in 2024.
China's market for multiple sclerosis drugs is experiencing rapid growth due to an increasing prevalence of the disease and rising healthcare investment.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in China has been steadily growing in recent years.

Customer preferences: Chinese customers are increasingly seeking out effective treatments for Multiple Sclerosis. They are willing to pay a premium for drugs that have been proven to be effective and have fewer side effects. Additionally, Chinese customers prefer drugs that are easy to administer and have a shorter treatment duration.

Trends in the market: One trend in the Multiple Sclerosis Drugs market in China is the increasing availability of innovative drugs. Pharmaceutical companies are investing heavily in research and development to create new drugs that are more effective and have fewer side effects. This is driving competition in the market, which is leading to lower prices for consumers.Another trend is the increasing use of combination therapies. Doctors are prescribing multiple drugs to treat Multiple Sclerosis in order to achieve better outcomes for patients. This trend is expected to continue as more drugs become available and doctors become more familiar with their use.

Local special circumstances: One special circumstance in the Chinese market is the government's role in drug pricing. The government sets the prices for many drugs, including those used to treat Multiple Sclerosis. This can limit the profitability of pharmaceutical companies operating in the Chinese market.Another special circumstance is the high level of competition in the market. There are many pharmaceutical companies operating in China, including both domestic and international companies. This can make it difficult for companies to differentiate themselves and gain market share.

Underlying macroeconomic factors: One macroeconomic factor driving the growth of the Multiple Sclerosis Drugs market in China is the country's aging population. Multiple Sclerosis is more common in older individuals, so as the population ages, the number of people with the disease is expected to increase.Another factor is the increasing wealth of Chinese consumers. As more people become affluent, they are able to afford expensive drugs and are willing to pay a premium for effective treatments.Overall, the Multiple Sclerosis Drugs market in China is expected to continue growing in the coming years as more drugs become available and the population ages. However, companies operating in the market will need to navigate the government's role in drug pricing and the high level of competition in order to succeed.

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.