Multiple Sclerosis Drugs - Nepal

Nepal

The revenue in the Multiple Sclerosis Drugs market is estimated to reach US$3.47m in 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 1.99%, leading to a market volume of US$3.83m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$11,770.00m in 2024.
Despite challenges in healthcare infrastructure, Nepal is witnessing an increase in the availability and accessibility of multiple sclerosis drugs, improving the quality of life for patients.

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

Market

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Currency

Analyst Opinion

The demand for Multiple Sclerosis Drugs in Nepal has been increasing steadily over the past few years.

Customer preferences: Patients in Nepal prefer oral medications over injectables due to convenience and ease of administration. However, due to the lack of availability of oral drugs in the country, patients are forced to opt for injectables. Patients also prefer cost-effective drugs, which has led to the popularity of generic drugs in the market.

Trends in the market: The market for Multiple Sclerosis Drugs in Nepal is expected to grow due to the increasing prevalence of the disease in the country. The government's efforts to improve healthcare infrastructure and provide better access to healthcare services are also expected to boost the market. The market is also expected to witness a shift towards oral drugs due to the increasing demand for more convenient and easy-to-administer drugs.

Local special circumstances: The lack of awareness about Multiple Sclerosis in Nepal has led to a delay in diagnosis and treatment, which has resulted in a higher prevalence of the disease in the country. The lack of availability of oral drugs in the market has also been a major challenge for patients in the country.

Underlying macroeconomic factors: The Nepalese pharmaceutical industry is still in its early stages of development, which has led to a lack of investment in research and development. The country also faces challenges such as inadequate healthcare infrastructure, shortage of skilled healthcare professionals, and limited access to healthcare services in rural areas. These factors have contributed to the slow growth of the Multiple Sclerosis Drugs market in Nepal.

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.