Multiple Sclerosis Drugs - Indonesia

Indonesia

Highlights

The Multiple Sclerosis Drugs market in Indonesia is expected to witness significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$60.35m.
Furthermore, a steady annual growth rate (CAGR 2024-2029) of 1.70% is anticipated, leading to a market volume of US$65.67m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market, reaching a staggering US$11.77bn in 2024.
Despite the growing prevalence of Multiple Sclerosis in Indonesia, access to advanced MS drugs remains limited due to high costs and lack of government support.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Multiple Sclerosis Drugs in Indonesia has been steadily increasing over the years.

Customer preferences: Indonesia has a high prevalence of Multiple Sclerosis (MS) cases, which has led to an increase in demand for MS drugs. Patients in Indonesia prefer drugs that are effective, affordable, and have minimal side effects. Patients also prefer oral medication over injectables.

Trends in the market: The MS drugs market in Indonesia is dominated by generic drugs due to their lower cost. However, there has been a trend towards the use of branded drugs in recent years due to their perceived higher quality and effectiveness. The use of disease-modifying therapies (DMTs) has also been on the rise in Indonesia. The introduction of new DMTs with better efficacy and safety profiles has driven the growth of this segment.

Local special circumstances: Indonesia has a large population, and the prevalence of MS is increasing. The lack of awareness and limited access to healthcare facilities in rural areas has resulted in many MS cases going undiagnosed. This has led to a surge in demand for MS drugs as more cases are diagnosed and treated. The Indonesian government has implemented various initiatives to improve healthcare facilities and increase awareness about MS, which is expected to further drive the demand for MS drugs in the country.

Underlying macroeconomic factors: The Indonesian economy has been growing steadily, and the middle class is expanding. As a result, there is an increase in healthcare spending, which has benefitted the MS drugs market. The government has also implemented policies to encourage local production of pharmaceuticals, which has led to an increase in the availability of MS drugs in the country. However, the market is still dominated by imported drugs, which are more expensive than locally produced drugs. The high cost of imported drugs is a major barrier to access for many patients in Indonesia.

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.