Multiple Sclerosis Drugs - GCC | Statista Market Forecast

The Multiple Sclerosis Drugs market in the GCC is expected to achieve a projected revenue of US$179.30m in 2024.
Furthermore, it is anticipated that the market will experience a compound annual growth rate (CAGR 2024-2029) of 1.19%, leading to a market volume of US$190.10m by 2029.
It is worth noting that when compared globally, United States is expected to generate the highest revenue of US$11.77bn in 2024.
The GCC region is experiencing a growing demand for innovative multiple sclerosis drugs to cater to its increasing patient population.

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 GCC has been experiencing steady growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis (MS) in the GCC region are increasingly opting for disease-modifying therapies (DMTs) due to their effectiveness in managing the symptoms of the disease. Patients are also showing a preference for oral medication over injectables, as they are more convenient and less invasive.

Trends in the market: The Multiple Sclerosis Drugs market in the GCC region has been witnessing an increase in the number of DMTs available in the market. This has led to increased competition among pharmaceutical companies, resulting in lower prices for patients. In addition, there has been a trend towards the development of personalized medicine, with pharmaceutical companies focusing on developing drugs that are tailored to the individual needs of patients.

Local special circumstances: The GCC region has a high prevalence of Multiple Sclerosis, with an estimated 30,000 to 40,000 people suffering from the disease. The hot and humid climate of the region can exacerbate symptoms of MS, leading to an increased demand for effective treatment options.

Underlying macroeconomic factors: The GCC region has a rapidly growing healthcare sector, with governments investing heavily in the development of healthcare infrastructure. This has led to increased access to healthcare services for patients suffering from MS. In addition, the region has a high per capita income, which has led to increased affordability of MS drugs for 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.

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.