Multiple Sclerosis Drugs - Ethiopia

Ethiopia

Ethiopia is expected to witness a significant rise in revenue within the Multiple Sclerosis Drugs market.
By 2024, the projected revenue is estimated to reach US$4.60m.
Furthermore, this market is expected to display a steady annual growth rate of 2.48% from 2024 to 2029, resulting in a market volume of US$5.20m by 2029.
When compared globally, United States is projected to generate the highest revenue within this market, reaching an impressive US$11,770.00m in 2024.
With the increasing prevalence of Multiple Sclerosis in Ethiopia, there has been a growing demand for innovative and affordable MS drugs in the country.

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

Market

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Analyst Opinion

The Multiple Sclerosis Drugs market in Ethiopia is witnessing significant growth in recent years.

Customer preferences: The demand for Multiple Sclerosis Drugs in Ethiopia is primarily driven by the increasing prevalence of Multiple Sclerosis in the country. The rising awareness about the disease and its symptoms among the population is also contributing to the growth of the market.

Trends in the market: The market for Multiple Sclerosis Drugs in Ethiopia is witnessing a shift towards the use of disease-modifying therapies. The increasing availability of these therapies in the country is contributing to the growth of the market. The market is also witnessing the introduction of new drugs with improved efficacy and safety profiles.

Local special circumstances: Ethiopia has a relatively low-income population, and the cost of Multiple Sclerosis Drugs is often a barrier to treatment. The lack of health insurance coverage for these drugs further exacerbates the problem. As a result, there is a significant unmet need for affordable Multiple Sclerosis Drugs in the country.

Underlying macroeconomic factors: The Ethiopian economy has been growing at a steady pace in recent years, and this is contributing to the growth of the healthcare sector. The government has also been investing in the healthcare sector, and this is expected to drive the growth of the Multiple Sclerosis Drugs market in the country. However, the lack of healthcare infrastructure and trained healthcare professionals remains a challenge for the market.

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.