Multiple Sclerosis Drugs - NAFTA

NAFTA

Highlights

The Multiple Sclerosis Drugs market is anticipated to witness a substantial growth in revenue, with a projected amount of US$12.28bn by the year 2024.
Furthermore, it is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 0.74%, resulting in a market volume of US$12.75bn by 2029.
When compared globally, United States is poised to generate the highest revenue, with an estimated amount of US$11.77bn in 2024.
The prominence of the United States in the market is noteworthy, particularly within the context of NAFTA.
The United States, as part of NAFTA, remains the largest market for Multiple Sclerosis drugs, with a high demand for innovative treatments.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Multiple Sclerosis Drugs market in NAFTA has been experiencing significant growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis (MS) in the NAFTA region prefer drugs that can slow down the progression of the disease and alleviate symptoms. They also prefer treatments that have fewer side effects and are easy to administer.

Trends in the market: The Multiple Sclerosis Drugs market in the United States is the largest in the NAFTA region. The market has been growing due to the increasing prevalence of MS and the introduction of new drugs. The market has also seen a shift towards oral medications, which are more convenient for patients than injectable drugs. In Canada, the market has been growing due to the availability of new therapies and an increase in the number of patients being diagnosed with MS. Mexico has a smaller market, but it has been growing due to the increasing awareness of the disease and the availability of new treatments.

Local special circumstances: In the United States, the high cost of MS drugs is a major concern for patients and healthcare providers. This has led to increased pressure on drug manufacturers to lower prices. In Canada, the government plays a significant role in the pricing and reimbursement of drugs, which can impact the availability and affordability of MS treatments. In Mexico, there is a lack of awareness and education about MS, which can lead to delays in diagnosis and treatment.

Underlying macroeconomic factors: The growth of the Multiple Sclerosis Drugs market in NAFTA can be attributed to several macroeconomic factors. These include an aging population, which is more susceptible to MS, and an increase in the prevalence of autoimmune diseases. The growth of the healthcare sector and advancements in medical technology have also contributed to the growth of the market. Additionally, the increasing focus on research and development has led to the introduction of new and innovative treatments for MS.

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.