Multiple Sclerosis Drugs - Norway

Norway

The Multiple Sclerosis Drugs market in Norway is projected to reach US$63.51m in revenue by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 0.19%, leading to a market volume of US$64.11m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue in the market, with US$11,770.00m in 2024.
Norway is experiencing a surge in demand for innovative multiple sclerosis drugs, driven by the country's strong focus on healthcare research and development.

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

Market

Region

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Currency

Analyst Opinion

The demand for Multiple Sclerosis (MS) drugs in Norway has been on the rise in recent years.

Customer preferences: Norwegian customers tend to prefer MS drugs that have minimal side effects and are highly effective in treating the condition. They also prefer drugs that are easy to administer and have a long-lasting effect.

Trends in the market: One of the major trends in the Norwegian MS drugs market is the increasing availability of generic drugs. This has led to a decrease in the prices of MS drugs, making them more affordable for patients. Another trend is the growing use of biologics, which are highly effective in treating MS but are also expensive.

Local special circumstances: Norway has a well-developed healthcare system that provides universal coverage to its citizens. This means that MS drugs are easily accessible to patients, regardless of their financial situation. The Norwegian government also heavily regulates the prices of drugs, which has helped to keep the cost of MS drugs relatively low compared to other countries.

Underlying macroeconomic factors: Norway has a high per capita income, which means that patients can afford to pay for expensive MS drugs. The country also has a relatively high prevalence of MS, which has contributed to the growth of the MS drugs market. Additionally, the Norwegian government has invested heavily in research and development of MS drugs, which has led to the development of new and more effective treatments for the condition.

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.