Key regions: France, India, United Kingdom, South Korea, Japan
Montenegro, a small country in the Balkans, has been experiencing a steady growth in the Multiple Sclerosis Drugs market in recent years.
Customer preferences: Patients in Montenegro suffering from Multiple Sclerosis (MS) have been increasingly demanding drugs that are more effective and have fewer side effects. They are also seeking treatments that are more affordable and accessible. As a result, there has been a growing demand for oral medications that are easier to administer and have a lower risk of adverse reactions.
Trends in the market: In Montenegro, the Multiple Sclerosis Drugs market has been witnessing a shift towards newer and more innovative drugs. The market has been dominated by injectable drugs for a long time, but there has been a growing trend towards oral medications. This is because they are more convenient to use and have a lower risk of side effects. There has also been a trend towards the use of biologics, which are drugs made from living cells and have a more targeted approach to treating MS.
Local special circumstances: Montenegro has a small population and a relatively low GDP compared to other European countries. This means that the cost of MS treatments can be a significant burden on patients and the healthcare system. However, the government has been taking steps to improve access to healthcare and has been working with pharmaceutical companies to negotiate lower prices for drugs.
Underlying macroeconomic factors: Montenegro has been experiencing steady economic growth in recent years, which has led to an increase in healthcare spending. This has helped to drive the growth of the Multiple Sclerosis Drugs market. Additionally, the country's accession to the European Union is expected to further boost economic growth and improve access to healthcare. However, there are still challenges to be addressed, such as the need for better infrastructure and the high level of corruption in the country.
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.
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