Multiple Sclerosis Drugs - India

India

Highlights

The Multiple Sclerosis Drugs market in India is expected to witness a significant growth in revenue.
According to projections, the revenue is projected to reach INR US$198.10m by 2024.
This indicates a positive trend in the market.
Furthermore, it is anticipated that the market will continue to grow at an annual growth rate (CAGR 2024-2029) of 1.81%, leading to a market volume of INR US$216.70m by 2029.
When comparing the global market, it is worth noting that United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024, the revenue from this market United States is projected to be US$11.77bn.
This highlights the dominance of the United States in this market.
India's growing healthcare infrastructure and increasing access to healthcare services are driving the demand for multiple sclerosis drugs in the country.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in India has been experiencing a steady growth rate in recent years.

Customer preferences: Indian consumers have shown a growing preference for pharmaceutical drugs to treat Multiple Sclerosis. This preference is driven by the belief that pharmaceutical drugs are more effective in treating the disease than alternative therapies.

Trends in the market: One of the key trends in the Multiple Sclerosis Drugs market in India is the increasing availability of drugs. This is due to the efforts of pharmaceutical companies to expand their operations in the country and make their products more accessible to consumers. Additionally, there has been a growing trend towards the use of biologics in the treatment of Multiple Sclerosis, which has further fueled the growth of the market.

Local special circumstances: One of the unique factors that has contributed to the growth of the Multiple Sclerosis Drugs market in India is the relatively low cost of pharmaceutical drugs in the country. This has made it easier for consumers to access these drugs and has also encouraged pharmaceutical companies to invest in the market.

Underlying macroeconomic factors: The growth of the Multiple Sclerosis Drugs market in India can be attributed to a number of underlying macroeconomic factors. These include the country's large population, which provides a significant market for pharmaceutical companies, as well as the increasing prevalence of Multiple Sclerosis in the country. Additionally, the Indian government has taken steps to encourage investment in the pharmaceutical industry, which has helped to attract foreign companies to the market.

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.