Multiple Sclerosis Drugs - Kenya

Kenya

The Multiple Sclerosis Drugs market in Kenya is expected to witness a significant increase in revenue, with projections indicating a rise to KSh US$9.27m by 2024.
Furthermore, the market is anticipated to experience a steady growth rate of 1.06% annually from 2024 to 2029, resulting in a market volume of KSh US$9.77m by 2029.
When compared globally, United States is projected to generate the highest revenue in the market, reaching an impressive US$11,770.00m in 2024.
Kenya's market for Multiple Sclerosis Drugs is experiencing a surge in demand due to an increasing prevalence of the disease in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Kenya has seen steady growth in recent years.

Customer preferences: Kenyan customers prefer affordable and effective drugs for Multiple Sclerosis treatment. They are willing to try new drugs that have been approved by the local regulatory authority.

Trends in the market: The Multiple Sclerosis Drugs market in Kenya is growing due to an increase in the number of patients diagnosed with the disease. The market is also being driven by the introduction of new drugs that are more effective and have fewer side effects. In addition, there is a growing demand for generic drugs which are more affordable.

Local special circumstances: Kenya has a high prevalence of Multiple Sclerosis, with the disease affecting both young and old people. The country also has a shortage of neurologists and other healthcare professionals who specialize in the treatment of the disease. This has led to a growing demand for Multiple Sclerosis Drugs and an increase in the number of pharmaceutical companies operating in the country.

Underlying macroeconomic factors: Kenya has a growing economy with a large and growing middle class. This has led to an increase in demand for healthcare services, including drugs for the treatment of Multiple Sclerosis. In addition, the government has introduced policies to promote the development of the pharmaceutical industry and improve access to healthcare services across the country. These policies have created a favorable environment for the growth of the Multiple Sclerosis Drugs market in Kenya.

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.