Multiple Sclerosis Drugs - Eastern Africa

Eastern Africa

Highlights

The Eastern African region is expected to witness significant revenue growth in the Multiple Sclerosis Drugs market.
By 2024, the projected revenue for this market in Eastern Africa is estimated to reach US$33.98m.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 1.60%.
As a result, the market volume is projected to reach US$36.79m by 2029.
When compared globally, it is worth noting that United States will generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024, United States is expected to generate a substantial revenue of US$11.77bn.
Eastern Africa is experiencing a growing demand for Multiple Sclerosis Drugs, as healthcare infrastructure improves and awareness about the condition increases.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in Eastern Africa is experiencing a steady growth in recent years.

Customer preferences: Patients suffering from multiple sclerosis in Eastern Africa prefer disease-modifying therapies (DMTs) over symptomatic treatments. This preference is due to the fact that DMTs are more effective in slowing the progression of the disease and reducing the frequency of relapses. Patients also prefer oral DMTs over injectable ones due to the convenience and ease of use.

Trends in the market: The market for multiple sclerosis drugs in Eastern Africa is dominated by the sales of branded drugs. However, there has been a recent trend towards the use of generic drugs due to their lower cost. The use of biosimilars is also gaining popularity in the region. Another trend in the market is the increasing focus on patient education and awareness programs to improve early diagnosis and treatment.

Local special circumstances: The healthcare infrastructure in Eastern Africa is still developing, and there is a shortage of healthcare professionals, including neurologists. This shortage affects the availability of multiple sclerosis drugs and the quality of care provided to patients. Additionally, the high cost of drugs and lack of insurance coverage make it difficult for many patients to access treatment.

Underlying macroeconomic factors: The economic growth in Eastern Africa is driving the demand for healthcare services, including the treatment of chronic diseases such as multiple sclerosis. However, the region still faces challenges such as poverty, political instability, and weak governance, which affect the healthcare sector. The COVID-19 pandemic has also had an impact on the market, causing disruptions in the supply chain and affecting patient access to 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.