Multiple Sclerosis Drugs - Dominican Republic

The Multiple Sclerosis Drugs market in the Dominican Republic is expected to generate revenue of US$10.25m by the year 2024.
Furthermore, it is projected to achieve a compound annual growth rate (CAGR 2024-2029) of 2.06%, which will lead to a market volume of US$11.35m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, reaching US$11.77bn in 2024.
The market for Multiple Sclerosis drugs in the Dominican Republic is experiencing a surge in demand due to increasing awareness and access to healthcare services.

Definition:
This market covers drugs to treat the neurological autoimmune disease multiple sclerosis. As there is no cure for multiple sclerosis, the goal is to improve functions after an attack or to prevent attacks. Different types of medication include immunomodulators, immunosuppressants, and interferons. Monoclonal antibodies are now being increasingly used.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Biogen, Roche, Novartis, Sanofi

Drugs to treat multiple sclerosis
Monoclonal antibodies
Immunosuppressants

Monoclonal antibodies and immunosuppressants for the treatment of other diseases
Treatment of other autoimmune diseases
Alternative medicine

The demand for Multiple Sclerosis Drugs in Dominican Republic has been on the rise in recent years.

Customer preferences: Patients in Dominican Republic suffering from Multiple Sclerosis are showing a preference for more effective and convenient treatments. They are looking for drugs that can help them manage their symptoms with minimal side effects and with ease of administration.

Trends in the market: The Multiple Sclerosis Drugs market in Dominican Republic is witnessing an influx of new and innovative drugs that are more effective and convenient than their predecessors. Patients are now able to manage their symptoms better and lead a more normal life. With the increase in awareness about the disease, more patients are seeking treatment, leading to an increase in demand for Multiple Sclerosis Drugs.

Local special circumstances: Dominican Republic has a high incidence of Multiple Sclerosis, with a prevalence rate of approximately 5.5 per 100,000 population. The disease is more common in women than in men, and usually affects people between the ages of 20 and 40. The high incidence of the disease has led to an increase in demand for Multiple Sclerosis Drugs.

Underlying macroeconomic factors: The Dominican Republic has a growing economy and an increasing middle class. This has led to an increase in healthcare spending, which has in turn led to an increase in demand for healthcare services, including Multiple Sclerosis Drugs. The government has also been taking steps to improve the healthcare system, including increasing access to healthcare services and improving the quality of care. This has led to an increase in demand for healthcare services, including Multiple Sclerosis Drugs.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.