Key regions: France, India, United Kingdom, South Korea, Japan
The Multiple Sclerosis Drugs market in Nordics has been steadily growing in recent years, driven by a combination of factors including increasing prevalence of the disease, advancements in drug development, and a growing elderly population.
Customer preferences: Patients in the Nordics have a high level of awareness and knowledge about Multiple Sclerosis (MS), and they are increasingly demanding more personalized treatment options. They are also seeking drugs that have fewer side effects and are more convenient to use. In addition, there is a growing trend towards self-administration of drugs, which is driving demand for drugs that can be easily self-injected.
Trends in the market: The Nordics is a highly competitive market for MS drugs, with a number of major players competing for market share. One of the key trends in the market is the increasing use of disease-modifying therapies (DMTs), which are designed to slow down the progression of MS. There is also a growing trend towards combination therapies, which involve the use of two or more drugs to achieve better outcomes. Another trend is the increasing use of biosimilars, which are cheaper versions of biologic drugs.
Local special circumstances: The Nordics has a well-developed healthcare system, which provides universal access to healthcare for all citizens. This has resulted in a high level of demand for MS drugs, as patients have access to the latest treatments. In addition, the Nordics has a high prevalence of MS, which has also contributed to the growth of the market. The region also has a strong focus on research and development, which has led to the development of new and innovative drugs.
Underlying macroeconomic factors: The Nordics has a stable economy, with a high standard of living and a well-educated population. This has resulted in a high level of demand for healthcare services, including MS drugs. In addition, the region has a growing elderly population, which is more susceptible to MS. The Nordics also has a strong pharmaceutical industry, which has contributed to the growth of the MS drugs market. Finally, the region has a well-developed regulatory framework, which has helped to ensure that MS drugs are safe and effective.
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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