Multiple Sclerosis Drugs - North Macedonia

North Macedonia

The Multiple Sclerosis Drugs market in North Macedonia is expected to witness significant revenue growth, with projections indicating that it will reach US$1.55m by the year 2024.
Furthermore, it is anticipated that the market will continue to expand at a steady annual growth rate (CAGR 2024-2029) of 1.86%, resulting in a market volume of US$1.70m by 2029.
When compared globally, United States is forecasted to generate the highest revenue, amounting to US$11,770.00m in 2024.
Despite being a small market, North Macedonia has seen an increasing demand for innovative multiple sclerosis drugs in recent years.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in North Macedonia has been steadily growing in recent years.

Customer preferences: Patients in North Macedonia suffering from Multiple Sclerosis (MS) are increasingly seeking treatment options that can help them manage their symptoms and improve their quality of life. As a result, there is a growing demand for MS drugs that can slow down the progression of the disease and alleviate symptoms such as muscle spasms, fatigue, and mobility problems.

Trends in the market: One of the major trends in the MS drugs market in North Macedonia is the increasing availability of disease-modifying therapies (DMTs) that can slow down the progression of the disease and reduce the frequency of relapses. These drugs, which include interferon beta and glatiramer acetate, have become more widely available in recent years, and are increasingly being prescribed by healthcare providers.Another trend in the market is the growing focus on patient-centric care, which involves tailoring treatment plans to the individual needs and preferences of each patient. This approach recognizes that MS is a complex and heterogeneous disease, and that different patients may respond differently to different treatments. As a result, healthcare providers are increasingly working with patients to develop personalized treatment plans that take into account factors such as disease severity, symptoms, lifestyle, and preferences.

Local special circumstances: One of the unique challenges of the MS drugs market in North Macedonia is the relatively low level of healthcare spending in the country. This can make it difficult for patients to access the latest and most effective MS drugs, which can be expensive. As a result, many patients may need to rely on older, less effective drugs, or may not be able to afford treatment at all.

Underlying macroeconomic factors: The MS drugs market in North Macedonia is influenced by a range of macroeconomic factors, including government healthcare policies, economic growth, and demographic changes. For example, changes in government policies related to healthcare spending can have a significant impact on the availability and affordability of MS drugs in the country. Similarly, demographic changes such as an aging population can increase the demand for MS drugs, as the disease is more common among older adults. Overall, the MS drugs market in North Macedonia is likely to continue growing in the coming years, as more patients seek treatment and new drugs become available.

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.