Multiple Sclerosis Drugs - Peru

Peru

In Peru, the revenue in the market of Multiple Sclerosis Drugs market is estimated to reach US$22.63m by the year 2024.
It is anticipated that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 1.08%, leading to a market volume of US$23.88m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$11,770.00m in 2024.
Peru's multiple sclerosis drug market is experiencing a surge in demand for innovative treatments.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in Peru is experiencing steady growth in recent years.

Customer preferences: Peruvian customers are increasingly looking for effective treatments for Multiple Sclerosis (MS) as the disease is becoming more prevalent in the country. Patients are seeking drugs that can help manage their symptoms and improve their quality of life. However, they are also looking for affordable treatments as the cost of healthcare is a major concern for many Peruvian families.

Trends in the market: The MS drugs market in Peru is expected to grow in the coming years due to the increasing prevalence of the disease. According to recent studies, the incidence of MS in Latin America is rising faster than in any other region in the world. As a result, pharmaceutical companies are investing in research and development of new drugs to meet the growing demand for effective treatments. Moreover, the Peruvian government is taking steps to improve access to healthcare, which is expected to increase the availability of MS drugs in the country.

Local special circumstances: One of the main challenges in the MS drugs market in Peru is the lack of awareness about the disease. Many patients are not aware of the symptoms of MS and do not seek treatment until the disease has progressed to an advanced stage. Additionally, there is a shortage of healthcare professionals with expertise in treating MS, which can result in delayed diagnosis and treatment.

Underlying macroeconomic factors: The Peruvian economy has been growing steadily in recent years, which has led to an increase in disposable income and healthcare spending. This has created opportunities for pharmaceutical companies to invest in the development and marketing of new drugs for MS. However, Peru still faces challenges in terms of income inequality and access to healthcare, which can limit the growth of the MS drugs market in the country.

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.