Key regions: France, India, United Kingdom, South Korea, Japan
The Multiple Sclerosis Drugs market in the Eurasian Economic Union (EAEU) has been experiencing steady growth in recent years.
Customer preferences: Patients in the EAEU region suffering from Multiple Sclerosis (MS) have been increasingly seeking out newer and more effective treatments. This has led to a rise in demand for disease-modifying therapies that can slow down the progression of MS and improve patients' quality of life. Patients are also showing a preference for oral medications over injectables, as they offer greater convenience and ease of use.
Trends in the market: Russia is the largest market for MS drugs in the EAEU region, accounting for over 80% of the total market share. The market is dominated by multinational pharmaceutical companies such as Novartis, Sanofi, and Biogen, who have been investing heavily in research and development of new MS drugs. The market has also seen an increase in the number of biosimilar drugs, which are cheaper alternatives to branded MS drugs. However, the uptake of biosimilars has been slow due to concerns about their safety and efficacy.
Local special circumstances: One of the major challenges facing the MS drugs market in the EAEU region is the lack of access to treatment in remote and rural areas. This is particularly true for countries like Kazakhstan and Kyrgyzstan, where the healthcare infrastructure is underdeveloped. Another issue is the high cost of MS drugs, which makes it difficult for patients to afford them. This has led to calls for greater government support and subsidies to make MS drugs more accessible to patients.
Underlying macroeconomic factors: The MS drugs market in the EAEU region is influenced by a range of macroeconomic factors such as GDP growth, healthcare spending, and regulatory policies. The region has been experiencing moderate economic growth in recent years, which has led to an increase in healthcare spending. However, the regulatory environment for MS drugs is complex, with different countries having different pricing and reimbursement policies. This has created challenges for pharmaceutical companies looking to enter the market and has led to a lack of consistency in pricing and access to treatment across the region.
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.
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