Multiple Sclerosis Drugs - Israel

Israel

The Multiple Sclerosis Drugs market in Israel is expected to witness significant growth in the coming years.
According to projections, the revenue is projected to reach US$58.84m in 2024.
Moreover, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 1.13%, leading to a market volume of US$62.23m by 2029.
When compared to other countries globally, United States is forecasted to generate the highest revenue in the Multiple Sclerosis Drugs market, with an estimated revenue of US$11,770.00m in 2024.
Israel has seen a surge in research and development for innovative multiple sclerosis drugs, positioning itself as a leading player in the global market.

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

Market

Region

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Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Israel has been showing steady growth in recent years.

Customer preferences: Customers in Israel prefer drugs that are effective in treating multiple sclerosis while having minimal side effects. They also prefer drugs that are affordable and easily accessible. Patients in Israel have a high level of awareness about the disease and its treatment options. They are well-informed and actively participate in their treatment decisions.

Trends in the market: The Multiple Sclerosis Drugs market in Israel has been growing due to the increasing prevalence of multiple sclerosis in the country. The market is also driven by the introduction of new drugs with better efficacy and fewer side effects. The market is highly competitive with many players offering a wide range of drugs for the treatment of multiple sclerosis. There is also a trend towards personalized medicine, with drugs being tailored to the individual needs of patients.

Local special circumstances: Israel has a high prevalence of multiple sclerosis, with around 12,000 people living with the disease. The country has a well-developed healthcare system, which provides access to advanced treatments and therapies. The government provides subsidies for the treatment of multiple sclerosis, making it more affordable for patients. The country is also home to several research institutions that are actively engaged in the development of new drugs and therapies for the treatment of multiple sclerosis.

Underlying macroeconomic factors: The Israeli economy has been growing steadily in recent years, with a focus on innovation and technology. This has led to the development of a strong pharmaceutical industry in the country. The government has also been actively promoting the development of the healthcare sector, which has led to increased investment in research and development. The aging population in Israel is also contributing to the growth of the Multiple Sclerosis Drugs market, as the disease is more prevalent in older individuals.

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.