Multiple Sclerosis Drugs - Gabon

Gabon

The Multiple Sclerosis Drugs market in Gabon is forecasted to achieve a revenue of US$0.80m in 2024.
This sector is expected to exhibit a Compound Annual Growth Rate (CAGR) of 0.50% between 2024 and 2029, leading to a market volume of US$0.82m by 2029.
When compared to other countries worldwide, United States will generate the highest revenue in this market, with an estimated value of US$11,770.00m in 2024.
Despite the small market size, Gabon is experiencing an increasing demand for innovative multiple sclerosis drugs.

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

Market

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Currency

Analyst Opinion

The demand for Multiple Sclerosis Drugs in Gabon has been on a steady rise in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in Gabon prefer drugs that offer long-term relief with minimal side effects. They also prefer drugs that are affordable and easily accessible.

Trends in the market: The Gabonese government has been investing heavily in the healthcare sector, which has led to the expansion of healthcare facilities and an increase in the number of healthcare professionals. This has resulted in an increase in the diagnosis of Multiple Sclerosis, leading to a rise in demand for Multiple Sclerosis Drugs. Additionally, the rise in disposable income among Gabonese citizens has led to an increase in demand for high-quality healthcare services, including Multiple Sclerosis Drugs.

Local special circumstances: Despite the rise in demand for Multiple Sclerosis Drugs, the Gabonese market is still largely untapped. There is a lack of awareness about Multiple Sclerosis among the general population, which has resulted in a low diagnosis rate. Additionally, the high cost of Multiple Sclerosis Drugs has made them unaffordable for many Gabonese citizens.

Underlying macroeconomic factors: Gabon is an oil-rich country, and the government has been investing heavily in the healthcare sector in recent years. The country has a relatively stable economy, with a GDP growth rate of 3.9% in 2019. However, the COVID-19 pandemic has had a significant impact on the Gabonese economy, leading to a decline in government revenues and a decrease in healthcare spending. This has had a negative impact on the availability and affordability of Multiple Sclerosis Drugs in the 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.