Multiple Sclerosis Drugs - New Zealand

New Zealand

Highlights

In New Zealand, the revenue of the Multiple Sclerosis Drugs market is estimated to reach US$26.50m in 2024.
It is projected to experience a steady annual growth rate (CAGR 2024-2029) of 1.19%, leading to a market volume of US$28.11m by 2029.
When compared globally, it is noteworthy that United States is anticipated to generate the highest revenue of US$11.77bn in 2024.
New Zealand's market for Multiple Sclerosis Drugs is witnessing a surge in demand due to increasing awareness and access to advanced treatment options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

New Zealand, a small island nation in the southwestern Pacific Ocean, has a relatively low prevalence of Multiple Sclerosis (MS) compared to other developed countries. However, the incidence rate has been increasing steadily over the past few years, leading to the growth of the MS drugs market in the country.

Customer preferences: Patients with MS in New Zealand prefer disease-modifying therapies (DMTs) that can slow down the progression of the disease and improve their quality of life. They also prefer drugs with fewer side effects and a convenient dosing schedule. Patients in New Zealand have access to a range of DMTs including interferon beta, glatiramer acetate, and newer oral medications such as fingolimod, dimethyl fumarate, and teriflunomide.

Trends in the market: The MS drugs market in New Zealand has been growing steadily over the past few years due to the increasing incidence rate of MS in the country. The market is expected to continue to grow as more patients are diagnosed with the disease and as newer and more effective drugs become available. However, the market is also becoming more competitive as more pharmaceutical companies enter the market and as the government looks to reduce drug costs.

Local special circumstances: New Zealand has a publicly funded healthcare system that provides free or subsidized healthcare to all residents. This means that the government has a significant influence on the MS drugs market in the country. The government negotiates drug prices with pharmaceutical companies and decides which drugs are subsidized for use in the public healthcare system. This has led to some controversy in the past, with patients and advocacy groups calling for more funding for MS drugs.

Underlying macroeconomic factors: New Zealand has a small economy that is heavily dependent on trade. The country has a strong agricultural sector and is a major exporter of dairy products, meat, and wine. The government has been working to diversify the economy and attract more foreign investment in recent years. However, the COVID-19 pandemic has had a significant impact on the economy, with the country experiencing a recession in 2020. This has led to some uncertainty in the MS drugs market, with patients and healthcare providers concerned about the availability and affordability of drugs in the future.

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.