Multiple Sclerosis Drugs - G20

The Multiple Sclerosis Drugs market is expected to reach a revenue of US$20.23bn by 2024.
The market is projected to grow at an annual growth rate of 0.96% from 2024 to 2029, resulting in a market volume of US$21.22bn by 2029.
Among the G20 countries, United States is expected to generate the highest revenue, with US$11,770.00m in 2024.
In the G20 country of Germany, there is a growing trend towards the use of innovative and advanced multiple sclerosis drugs in order to improve patient outcomes and quality of life.

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

Market

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Region comparison

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Analyst Opinion

The market for Multiple Sclerosis Drugs in G20 countries has been growing steadily over the past few years.

Customer preferences: Patients suffering from Multiple Sclerosis (MS) seek treatment options that can help them manage their symptoms, improve their quality of life, and slow down the progression of the disease. They prefer drugs that can be taken orally or through injections, and those that have minimal side effects. Patients also look for drugs that are affordable and easily accessible.

Trends in the market: The market for MS drugs in G20 countries is driven by the increasing prevalence of the disease, growing awareness among patients, and advancements in medical technology. The market is also witnessing a shift towards the use of generic drugs, which are more affordable than branded drugs. The use of disease-modifying therapies (DMTs) is also on the rise, as they have been proven to be effective in slowing down the progression of the disease. In the United States, the market for MS drugs is dominated by a few major players, who have been investing heavily in research and development to come up with new and innovative treatments. In Europe, the market is more fragmented, with several smaller players competing for market share.

Local special circumstances: In Japan, the market for MS drugs is heavily regulated, and the approval process for new drugs can be lengthy and expensive. This has led to a slower adoption of new treatments, and a higher reliance on older drugs. In China, the market for MS drugs is still in its early stages, but is expected to grow rapidly in the coming years due to the increasing prevalence of the disease and the growing demand for effective treatments.

Underlying macroeconomic factors: The market for MS drugs in G20 countries is also influenced by macroeconomic factors such as healthcare spending, government policies, and reimbursement policies. In countries with universal healthcare systems, such as Canada and the United Kingdom, the government plays a significant role in determining which drugs are covered by insurance and at what price. In countries with private healthcare systems, such as the United States, the market is more driven by market forces, with drug prices being determined by supply and demand. In conclusion, the market for MS drugs in G20 countries is expected to continue growing in the coming years, driven by the increasing prevalence of the disease, growing awareness among patients, and advancements in medical technology. The market is also expected to become more competitive, with the rise of generic drugs and the entry of new players. However, the market is also influenced by local special circumstances and macroeconomic factors, which can vary significantly from country to country.

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.