Multiple Sclerosis Drugs - 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$11.77bn 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.

Definition:
This market covers drugs to treat the neurological autoimmune disease multiple sclerosis. As there is no cure for multiple sclerosis, the goal is to improve functions after an attack or to prevent attacks. Different types of medication include immunomodulators, immunosuppressants, and interferons. Monoclonal antibodies are now being increasingly used.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Biogen, Roche, Novartis, Sanofi

Drugs to treat multiple sclerosis
Monoclonal antibodies
Immunosuppressants

Monoclonal antibodies and immunosuppressants for the treatment of other diseases
Treatment of other autoimmune diseases
Alternative medicine

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.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.