Multiple Sclerosis Drugs - Gambia

The Multiple Sclerosis Drugs market in Gambia is expected to reach a projected revenue of US$103.10k in 2024.
It is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 1.13%, leading to a market volume of US$109.10k by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$11.77bn in 2024.
Gambia's market for Multiple Sclerosis Drugs is experiencing a slow growth due to limited access to healthcare facilities.

Definition:
This market covers drugs to treat the neurological autoimmune disease multiple sclerosis. As there is no cure for multiple sclerosis, the goal is to improve functions after an attack or to prevent attacks. Different types of medication include immunomodulators, immunosuppressants, and interferons. Monoclonal antibodies are now being increasingly used.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Biogen, Roche, Novartis, Sanofi

Drugs to treat multiple sclerosis
Monoclonal antibodies
Immunosuppressants

Monoclonal antibodies and immunosuppressants for the treatment of other diseases
Treatment of other autoimmune diseases
Alternative medicine

The Multiple Sclerosis Drugs market in Gambia has been showing a steady growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in Gambia tend to prefer drugs that are easily accessible and affordable. This is due to the fact that the majority of the population lives in rural areas, where access to healthcare facilities is limited. As a result, patients are more likely to choose drugs that are available in local pharmacies and are affordable.

Trends in the market: The Multiple Sclerosis Drugs market in Gambia is expected to continue growing in the coming years. This growth can be attributed to the increasing awareness of Multiple Sclerosis in the country, as well as the rising number of patients being diagnosed with the disease. Additionally, the government has been taking steps to improve access to healthcare facilities in rural areas, which is likely to increase the demand for Multiple Sclerosis drugs.

Local special circumstances: Gambia is a small country located in West Africa, with a population of approximately 2 million people. The country has a relatively low GDP per capita, which means that many patients may not be able to afford expensive drugs. However, the government has been working to improve access to healthcare, and has been investing in the healthcare sector in recent years.

Underlying macroeconomic factors: Gambia has been experiencing steady economic growth in recent years, with a GDP growth rate of around 6% in 2019. This growth has been driven by the agriculture and tourism sectors, which are the country's main sources of income. However, the country still faces significant challenges, including poverty, high unemployment, and a lack of infrastructure. These factors are likely to impact the growth of the Multiple Sclerosis Drugs market in the country.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.