Multiple Sclerosis Drugs - Iraq

Iraq

The Multiple Sclerosis Drugs market in Iraq is expected to witness significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$23.43m.
Furthermore, it is anticipated that the market will experience a steady annual growth rate of 1.34% from 2024 to 2029.
This growth trajectory is expected to result in a market volume of US$25.04m by 2029.
When compared to other countries globally, United States is projected to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024 alone, the revenue generated United States is estimated to be US$11,770.00m.
This demonstrates the dominant position of the United States in the global market of Multiple Sclerosis Drugs market.
Despite challenges such as limited access to healthcare facilities and high treatment costs, Iraq is witnessing an increasing demand for innovative multiple sclerosis drugs among its population.

Key regions: France, India, United Kingdom, South Korea, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Iraq has been steadily growing in recent years, driven by a combination of factors.

Customer preferences: Patients in Iraq suffering from Multiple Sclerosis have been increasingly seeking out more effective and convenient treatment options. This has led to a rise in demand for newer drugs that offer better efficacy and fewer side effects. Additionally, patients are also looking for treatments that are more affordable and accessible.

Trends in the market: One of the key trends in the Multiple Sclerosis Drugs market in Iraq is the increasing availability of newer drugs that offer better efficacy and fewer side effects. This has been driven by the entry of several international pharmaceutical companies into the market, which has led to an increase in competition and innovation. Another trend is the growing use of combination therapies, where patients are given multiple drugs in order to achieve better outcomes.

Local special circumstances: One of the major challenges in the Multiple Sclerosis Drugs market in Iraq is the lack of awareness and education about the disease. Many patients are not diagnosed until the disease has progressed to an advanced stage, which makes treatment more difficult. Additionally, there is a lack of specialized healthcare facilities and trained healthcare professionals in the country, which further compounds the problem.

Underlying macroeconomic factors: The Multiple Sclerosis Drugs market in Iraq is also influenced by broader macroeconomic factors. The country has been facing a challenging economic environment in recent years, which has led to a decline in healthcare spending. This has made it difficult for patients to access the latest treatments and has also limited the ability of pharmaceutical companies to invest in research and development. However, the recent stabilization of the political situation in the country is expected to lead to an improvement in the economic environment, which could lead to increased healthcare spending and further growth of the Multiple Sclerosis Drugs market.

Methodology

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.