Key regions: France, India, United Kingdom, South Korea, Japan
The market for Multiple Sclerosis Drugs in G7 countries has been growing steadily in recent years.
Customer preferences: Patients with Multiple Sclerosis (MS) are increasingly looking for treatments that can slow or stop the progression of the disease, as well as manage its symptoms. In addition, there is a growing demand for oral treatments that are more convenient for patients than traditional injectable options.
Trends in the market: In the United States, the market for MS drugs has been dominated by large pharmaceutical companies that have invested heavily in research and development. However, there has been a recent trend towards the development of biosimilars, which are cheaper alternatives to branded drugs. This has led to increased competition in the market and lower prices for patients.In Europe, there has been a shift towards oral treatments, with several new drugs being approved in recent years. This has led to increased competition and lower prices for patients. In addition, there has been a growing focus on personalized medicine, with treatments being tailored to individual patients based on their genetic makeup.
Local special circumstances: In Japan, the market for MS drugs has been growing rapidly in recent years, driven by an aging population and increasing awareness of the disease. However, there are strict regulations around drug pricing, which has led to lower prices for patients.In Canada, there has been a growing focus on patient advocacy and access to treatments. This has led to increased pressure on the government to provide funding for expensive MS drugs, which can cost tens of thousands of dollars per year.
Underlying macroeconomic factors: The global market for MS drugs is expected to continue growing in the coming years, driven by increasing awareness of the disease and the development of new treatments. However, there are concerns about the high cost of these drugs, which can be a barrier to access for many patients. In addition, there are ongoing debates about the role of biosimilars in the market and their impact on competition and pricing.
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.
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