Multiple Sclerosis Drugs - North America

North America

Highlights

The Multiple Sclerosis Drugs market in North America is expected to witness significant growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$12.28bn.
This growth is expected to continue at a steady pace, with a Compound Annual Growth Rate (CAGR 2024-2029) of 0.74%.
By 2029, the market volume is projected to expand to US$12.75bn.
When compared to other regions globally, United States is anticipated to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024 alone, the projected revenue for the United States is expected to be US$11.77bn.
The United States is experiencing a surge in the demand for innovative Multiple Sclerosis Drugs, driven by advancements in research and development.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The market for Multiple Sclerosis Drugs in North America has witnessed significant growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in North America tend to prefer drugs that offer long-term relief and have fewer side effects. They also prefer drugs that can be administered orally instead of injections or infusions.

Trends in the market: One of the major trends in the Multiple Sclerosis Drugs market in North America is the increasing use of disease-modifying therapies (DMTs). These drugs help to slow down the progression of the disease and reduce the frequency and severity of relapses. There has also been a trend towards the development of more effective and targeted therapies that can be personalized to the individual patient's needs.Another trend in the market is the increasing use of biosimilars. These are drugs that are similar to existing biologic drugs but are manufactured by different companies. Biosimilars are often less expensive than the original drug and can help to increase access to treatment for patients.

Local special circumstances: The Multiple Sclerosis Drugs market in North America is highly competitive, with several large pharmaceutical companies competing for market share. The market is also heavily regulated, with strict requirements for drug approval and pricing.

Underlying macroeconomic factors: One of the key macroeconomic factors driving the growth of the Multiple Sclerosis Drugs market in North America is the increasing prevalence of Multiple Sclerosis in the region. This is due to a combination of factors, including an aging population and improved diagnosis and treatment options.Another factor driving growth in the market is the increasing healthcare expenditure in North America. Governments and private insurers are investing more in healthcare, which is leading to increased access to treatment for patients.Overall, the Multiple Sclerosis Drugs market in North America is expected to continue to grow in the coming years, driven by increasing demand for effective and personalized therapies, as well as favorable macroeconomic conditions.

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.