Multiple Sclerosis Drugs - Ireland

Ireland

In Ireland, the Multiple Sclerosis Drugs market is anticipated to witness a significant surge in revenue, with projections indicating a staggering amount of US$44.57m by the year 2024.
This growth is expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 0.71%.
As a result, the market volume is estimated to reach US$46.17m by 2029.
When compared on a global scale, it is noteworthy that United States is expected to generate the highest revenue in this market.
In 2024, the projected revenue for Multiple Sclerosis Drugs market United States stands at a remarkable sum of US$11,770.00m.
Ireland's market for Multiple Sclerosis Drugs is witnessing a surge in innovative therapies and increased access to treatment options.

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

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Analyst Opinion

The use of Multiple Sclerosis Drugs in Ireland has been on the rise in recent years, with a significant increase in demand for these drugs.

Customer preferences: Patients in Ireland are increasingly opting for disease-modifying therapies (DMTs) as opposed to symptomatic treatments. This is due to the fact that DMTs not only reduce the frequency and severity of relapses but also slow down the progression of the disease. Patients are also showing a preference for oral therapies over injectables, as they are more convenient and easier to administer.

Trends in the market: The Multiple Sclerosis Drugs market in Ireland has seen a surge in the number of newly diagnosed cases of MS. This has led to an increase in demand for DMTs, which are the primary treatment option for MS. The market has also witnessed the launch of new and innovative drugs, which are more effective in treating the disease and have fewer side effects. As a result, patients are switching to these newer drugs, thereby contributing to the growth of the market.

Local special circumstances: The Irish government has implemented a number of initiatives to improve access to MS drugs. This includes the introduction of a national clinical programme for MS, which aims to provide timely and appropriate care to patients with MS. The government has also established a reimbursement scheme for MS drugs, which ensures that patients have access to the latest treatments. These initiatives have contributed to the growth of the MS drugs market in Ireland.

Underlying macroeconomic factors: The economic growth in Ireland has led to an increase in healthcare spending. This has enabled the government to invest in healthcare infrastructure and services, including the provision of MS drugs. The country's ageing population has also led to an increase in the prevalence of chronic diseases such as MS, thereby driving the demand for MS drugs. The availability of a highly skilled workforce in the pharmaceutical industry has also contributed to the growth of the MS drugs market in Ireland.

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.