Multiple Sclerosis Drugs - South Africa

South Africa

In South Africa, the revenue in the Multiple Sclerosis Drugs market is forecasted to reach US$61.86m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 0.56%, leading to a market volume of US$63.62m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$11,770.00m in 2024.
South Africa's multiple sclerosis drug market is seeing a surge in demand due to increasing awareness and access to treatment options.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in South Africa has been steadily growing in recent years.

Customer preferences: Patients in South Africa suffering from Multiple Sclerosis (MS) are increasingly seeking treatment options that provide better symptom relief and improved quality of life. This has led to a growing demand for newer and more effective drugs in the market.

Trends in the market: The Multiple Sclerosis Drugs market in South Africa has been witnessing a trend of increasing competition among pharmaceutical companies. This has resulted in the introduction of newer drugs with better efficacy and safety profiles. The market is also witnessing a shift towards oral drugs, which are more convenient and have fewer side effects compared to injectable drugs.

Local special circumstances: South Africa has a high prevalence of MS, which is a major driver of growth in the market. The country also has a well-established healthcare system, which provides access to advanced treatment options for patients. However, the market is also characterized by a high level of price sensitivity, which is a major challenge for pharmaceutical companies operating in the country.

Underlying macroeconomic factors: The growth of the Multiple Sclerosis Drugs market in South Africa is also driven by underlying macroeconomic factors such as increasing healthcare expenditure and rising disposable incomes. The government's focus on improving healthcare infrastructure and increasing access to advanced treatments is also expected to drive growth in the market in the coming years. However, the market is also impacted by factors such as regulatory hurdles and the high cost of drug development, which can limit the entry of new players and restrict the growth of the market.

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.