Multiple Sclerosis Drugs - Taiwan

The market for Multiple Sclerosis Drugs market in Taiwan is expected to witness significant growth in the coming years.
Revenue in this market is projected to reach US$74.54m in 2024.
Moreover, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 0.99%, resulting in a market volume of US$78.29m by 2029.
When comparing the global market, it is noteworthy that United States is expected to generate the highest revenue in this market, with an estimated amount of US$11.77bn in 2024.
Taiwan has seen a growing demand for innovative and affordable multiple sclerosis drugs, leading to increased investment in research and development in the pharmaceutical sector.

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

Taiwan, a small island country in East Asia, has a growing Multiple Sclerosis (MS) Drugs market.

Customer preferences: Customers in Taiwan tend to prefer drugs that are affordable and have minimal side effects. They also prefer drugs that are easily accessible and have a good safety profile. Patients in Taiwan are more likely to choose oral medications over injectable ones.

Trends in the market: The MS drugs market in Taiwan is expected to grow due to the increasing prevalence of MS in the country. The market is also expected to grow due to the availability of new drugs and treatments for MS. The market is becoming more competitive as new players enter the market and existing players expand their product portfolios. The market is also witnessing a shift towards generic drugs as they become more widely available.

Local special circumstances: Taiwan has a well-developed healthcare system that provides universal healthcare coverage to its citizens. This has led to an increase in the number of patients seeking treatment for MS. The government has also introduced policies to encourage the development of new drugs and treatments for MS.

Underlying macroeconomic factors: Taiwan has a strong economy with a high GDP per capita. This has led to an increase in healthcare spending and a growing demand for high-quality healthcare services. The government has also invested heavily in the healthcare sector, which has led to the development of new drugs and treatments for MS. The aging population in Taiwan is also driving the growth of the MS drugs market as MS is more prevalent in older individuals.

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.