Key regions: France, India, United Kingdom, South Korea, Japan
The Multiple Sclerosis Drugs market in Hong Kong has been experiencing steady growth in recent years.
Customer preferences: Patients in Hong Kong suffering from Multiple Sclerosis (MS) prefer disease-modifying therapies (DMTs) that can reduce the frequency of relapses and slow down the progression of the disease. Patients also prefer oral medications over injectables due to convenience and ease of use.
Trends in the market: The MS drugs market in Hong Kong has been growing due to the increasing prevalence of MS in the country. The availability of new drugs and therapies has also contributed to the growth of the market. In recent years, there has been a shift towards the use of oral medications, which are becoming more widely available in the market. This shift is expected to continue, with more oral medications expected to be approved for use in Hong Kong in the coming years.
Local special circumstances: Hong Kong has a well-developed healthcare system, which has helped to increase access to MS drugs for patients. However, the high cost of these drugs remains a major barrier for many patients. The government has implemented various measures to address this issue, including the introduction of a drug formulary system that provides subsidies for certain drugs. Additionally, patients with financial difficulties can apply for assistance from the Samaritan Fund, which provides financial assistance for medical expenses.
Underlying macroeconomic factors: Hong Kong's ageing population is a major driver of the MS drugs market, as MS is more prevalent in older individuals. The country's strong economy and high standard of living have also contributed to the growth of the market, as patients are able to afford the high cost of MS drugs. However, the ongoing political unrest in the country may have a negative impact on the market, as it could lead to a decrease in healthcare spending and investment.
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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