Multiple Sclerosis Drugs - Equatorial Guinea

Equatorial Guinea

The Multiple Sclerosis Drugs market in Equatorial Guinea is expected to witness a significant increase in revenue, with projections indicating it will reach US$0.55m by 2024.
Furthermore, the market is anticipated to display a steady annual growth rate (CAGR 2024-2029) of 0.36%, leading to a market volume of US$0.56m by 2029.
In terms of global comparison, United States is projected to generate the highest revenue in this market, with an estimated value of US$11,770.00m in 2024.
Equatorial Guinea has witnessed a growing demand for innovative multiple sclerosis drugs, reflecting the country's increasing focus on healthcare advancements.

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

Market

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Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Equatorial Guinea has been experiencing steady growth in recent years.

Customer preferences: Customers in Equatorial Guinea tend to prioritize drugs that are affordable and readily available. They also prefer drugs that have been approved by the local regulatory authorities. Due to the high cost of imported drugs, customers tend to opt for locally produced drugs.

Trends in the market: One of the major trends in the Multiple Sclerosis Drugs market in Equatorial Guinea is the increasing demand for locally produced drugs. This is due to the high cost of imported drugs and the preference for drugs that have been approved by the local regulatory authorities. Another trend is the increasing availability of generic drugs, which are more affordable than brand-name drugs.

Local special circumstances: Equatorial Guinea has a small population and a relatively small healthcare sector. This has limited the availability of specialized healthcare services, including those related to Multiple Sclerosis. As a result, many patients have to travel to neighboring countries to receive treatment.

Underlying macroeconomic factors: Equatorial Guinea is a small, oil-rich country with a relatively high GDP per capita. However, the country has a high level of income inequality, which has limited the ability of many people to access healthcare services. Additionally, the country has a relatively weak healthcare infrastructure, which has limited the availability of specialized healthcare services, including those related to Multiple Sclerosis.

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.