Multiple Sclerosis Drugs - Saudi Arabia

In Saudi Arabia, the Multiple Sclerosis Drugs market is estimated to achieve a revenue of US$105.80m by the year 2024.
The market is anticipated to exhibit a CAGR of 0.71% from 2024 to 2029, leading to a market volume of US$109.60m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$11.77bn in 2024.
Saudi Arabia's market for Multiple Sclerosis Drugs is experiencing a surge in demand due to an increasing prevalence of the disease in the country.

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 Drugs in Saudi Arabia has been on the rise in recent years.

Customer preferences: Patients in Saudi Arabia prefer drugs that are effective in treating Multiple Sclerosis and have minimal side effects. They also prefer drugs that are affordable and easily accessible.

Trends in the market: The Multiple Sclerosis Drugs market in Saudi Arabia is expected to grow due to the increasing prevalence of Multiple Sclerosis in the region. The government has also been investing in healthcare infrastructure, which has led to an increase in the availability of healthcare services and drugs. The market is also witnessing the introduction of new drugs, which are more effective in treating Multiple Sclerosis.

Local special circumstances: Saudi Arabia has a high prevalence of Multiple Sclerosis, with an estimated 7,000 to 10,000 cases in the country. The disease is more common in women than men, and it usually affects people between the ages of 20 and 40. The hot climate in Saudi Arabia can also exacerbate the symptoms of Multiple Sclerosis, making it more challenging for patients to manage the disease.

Underlying macroeconomic factors: The Saudi Arabian government has been investing heavily in healthcare infrastructure, which has led to an increase in the availability of healthcare services and drugs. The government has also been implementing policies to encourage local pharmaceutical manufacturing, which has led to the development of a local pharmaceutical industry. The country's strong economy and high per capita income have also contributed to the growth of the Multiple Sclerosis Drugs market.

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.