Multiple Sclerosis Drugs - Guatemala

Guatemala

Highlights

The Multiple Sclerosis Drugs market in Guatemala is expected to experience significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$8.12m.
Furthermore, the market is anticipated to display an annual growth rate of 1.56% from 2024 to 2029, resulting in a market volume of US$8.78m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024 alone, the projected revenue for the United States is estimated to be a staggering US$11.77bn.
Despite the growing prevalence of Multiple Sclerosis in Guatemala, access to advanced MS drugs remains limited due to high costs and limited healthcare infrastructure.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in Guatemala is witnessing significant growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in Guatemala prefer drugs that are effective and have minimal side effects. They also prefer drugs that are affordable and easily accessible.

Trends in the market: The Multiple Sclerosis Drugs market in Guatemala is witnessing a trend of increasing demand for disease-modifying therapies. This is due to the increasing prevalence of Multiple Sclerosis in the country. Another trend in the market is the increasing adoption of biosimilars. Biosimilars are gaining popularity as they are cheaper alternatives to biologics.

Local special circumstances: Guatemala has a high prevalence of Multiple Sclerosis compared to other countries in the region. This has led to an increase in demand for Multiple Sclerosis drugs in the country. However, the market is highly fragmented with many small players operating in the market. This has led to intense competition and price wars among the players.

Underlying macroeconomic factors: The healthcare industry in Guatemala is growing rapidly due to increasing investments in the sector by the government. The government has increased its spending on healthcare in recent years, which has led to an increase in the availability of healthcare services in the country. This has also led to an increase in the availability of Multiple Sclerosis drugs in the country. Additionally, the increasing per capita income in the country has led to an increase in the affordability of drugs, which has further contributed to the growth of the Multiple Sclerosis Drugs market in Guatemala.

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.