Multiple Sclerosis Drugs - Southeast Asia

Southeast Asia

Highlights

The Southeast Asian Multiple Sclerosis Drugs market is anticipated to witness a significant growth in revenue, with projections indicating that it will reach a staggering US$235.40m by the year 2024.
Moreover, this market is expected to maintain a steady annual growth rate of 1.84% (CAGR 2024-2029), ultimately resulting in a market volume of US$257.80m by 2029.
When compared to the global market, it is noteworthy that United States is expected to generate the highest revenue in this industry, with an estimated figure of US$11.77bn in 2024.
In Southeast Asia, there is a growing demand for innovative and affordable multiple sclerosis drugs to address the rising prevalence of the disease in the region.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for Multiple Sclerosis Drugs in Southeast Asia has been on the rise in recent years.

Customer preferences: Customers in Southeast Asia are increasingly looking for effective and affordable treatments for Multiple Sclerosis. They prefer drugs that are easy to administer and have minimal side effects. Additionally, there is a growing preference for drugs that are manufactured by reputable pharmaceutical companies with a strong track record of safety and efficacy.

Trends in the market: The Multiple Sclerosis Drugs market in Southeast Asia is characterized by the presence of both established and emerging players. Established players are focusing on expanding their product portfolios and increasing their market share through strategic partnerships and collaborations. Emerging players, on the other hand, are focusing on developing innovative drugs that can address the unmet needs of patients with Multiple Sclerosis.

Local special circumstances: One of the key challenges facing the Multiple Sclerosis Drugs market in Southeast Asia is the lack of awareness among patients and healthcare professionals about the disease and its treatment options. This has resulted in a significant delay in diagnosis and treatment, which can have a negative impact on patient outcomes. Additionally, the high cost of drugs is a major barrier to access for many patients in the region.

Underlying macroeconomic factors: The healthcare sector in Southeast Asia is undergoing rapid transformation, driven by factors such as increasing urbanization, aging populations, and rising healthcare spending. This is expected to create significant opportunities for players in the Multiple Sclerosis Drugs market, as demand for effective treatments for chronic diseases such as Multiple Sclerosis is likely to increase in the coming years. However, regulatory challenges and the lack of healthcare infrastructure in some countries in the region may pose a challenge to market growth.

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.