Multiple Sclerosis Drugs - Europe

Europe

Highlights

The Multiple Sclerosis Drugs market in Europe is expected to witness significant revenue growth, projected to reach US$3.71bn by 2024.
This growth is anticipated to continue with an annual growth rate of 1.00% (CAGR 2024-2029), resulting in a market volume of US$3.90bn by 2029.
Comparatively, United States is expected to generate the highest revenue in the global market, with an estimated US$11.77bn in 2024.
In Europe, Germany leads the way in the market for Multiple Sclerosis drugs, with a strong emphasis on research and development.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Multiple Sclerosis (MS) drugs in Europe has been on the rise in recent years, driven by various factors such as increasing prevalence of MS, rising healthcare expenditure, and advancements in drug development technologies.

Customer preferences: Patients suffering from MS in Europe have shown a preference for disease-modifying therapies (DMTs) that can help slow down the progression of the disease and improve their quality of life. This has led to an increased demand for DMTs such as interferon beta and glatiramer acetate, which are among the most commonly prescribed MS drugs in Europe.

Trends in the market: The MS drugs market in Europe is witnessing a shift towards more effective and convenient treatment options such as oral therapies and infusion therapies. Oral therapies such as dimethyl fumarate and teriflunomide have gained popularity among MS patients due to their ease of administration and lower risk of side effects compared to traditional injectable therapies. Infusion therapies such as natalizumab and ocrelizumab are also gaining traction due to their higher efficacy in controlling MS symptoms.In addition, the market is also witnessing an increase in the number of biosimilar drugs entering the market, which has led to increased competition and lower prices for MS drugs. This has been a boon for patients as it has made MS drugs more affordable and accessible.

Local special circumstances: The MS drugs market in Europe is highly regulated, with strict guidelines and regulations governing drug approval and pricing. This has led to variations in drug availability and pricing across different countries in Europe. For instance, some countries have a more restrictive approach towards drug approval and pricing, which can limit the availability and affordability of MS drugs for patients.Moreover, the prevalence of MS also varies across different regions in Europe, with higher incidence rates observed in northern countries such as Norway and Sweden. This has led to differences in the demand for MS drugs across different countries in Europe.

Underlying macroeconomic factors: The MS drugs market in Europe is influenced by various macroeconomic factors such as healthcare expenditure, government policies, and research and development (R&D) investments. Rising healthcare expenditure and increasing government support for MS research and treatment have been key drivers of the market growth in Europe.Furthermore, the market is also witnessing an increase in R&D investments, with several pharmaceutical companies investing heavily in developing new and innovative MS drugs. This is expected to drive market growth in the coming years as new drugs enter the market and expand the treatment options available for MS patients.

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.