Multiple Sclerosis Drugs - Singapore

Singapore is projected to witness significant growth in the Multiple Sclerosis Drugs market.
By 2024, the revenue in this market is projected to reach US$33.12m.
This growth is expected to continue with an annual growth rate of 2.20% from 2024 to 2029, resulting in a market volume of US$36.92m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024, the revenue United States is projected to reach US$11.77bn.
Singapore's highly advanced healthcare system and favorable regulatory environment make it an attractive market for pharmaceutical companies developing multiple sclerosis drugs.

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 Multiple Sclerosis Drugs market in Singapore has been steadily growing over the past few years.

Customer preferences: Patients in Singapore suffering from Multiple Sclerosis (MS) prefer drugs that are effective, affordable and have minimal side effects. They also prefer drugs that can be administered easily and do not require frequent hospital visits.

Trends in the market: The Multiple Sclerosis Drugs market in Singapore is expected to grow due to the increasing prevalence of MS in the country. The market is also being driven by the introduction of new drugs that are more effective and have fewer side effects. The demand for these drugs is expected to increase as patients become more aware of their benefits. Additionally, there is a growing trend towards personalized medicine, which is expected to further drive the market growth.

Local special circumstances: Singapore has a well-developed healthcare system and is known for its high standards of medical care. The government has also been investing heavily in research and development, which has helped to attract pharmaceutical companies to the country. This has led to the availability of a wide range of drugs for the treatment of MS in Singapore.

Underlying macroeconomic factors: The growing demand for MS drugs in Singapore is being driven by several macroeconomic factors. These include the increasing prevalence of MS in the country, the growing healthcare expenditure, and the aging population. Additionally, the government's focus on healthcare and research and development has helped to create a favorable environment for the growth of the MS 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.