Multiple Sclerosis Drugs - Western Asia

Western Asia

The Multiple Sclerosis Drugs market in Western Asia is anticipated to achieve a revenue of US$0.42bn by 2024.
It is projected to display an annual growth rate (CAGR 2024-2029) of 0.93%, leading to a market volume of US$0.44bn by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in this market, reaching US$11,770.00m in 2024.
Western Asian countries have seen a rise in the demand for innovative Multiple Sclerosis drugs, driven by increasing awareness and access to healthcare.

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

Market

Region

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Currency

Analyst Opinion

The market for Multiple Sclerosis Drugs in Western Asia has been steadily growing in recent years.

Customer preferences: Patients in Western Asia have shown a preference for treatments that offer convenience and ease of use. This has led to an increase in demand for oral medications and self-administered injections. Additionally, there is a growing interest in alternative therapies such as herbal supplements and acupuncture.

Trends in the market: The market for Multiple Sclerosis Drugs in Western Asia is being driven by the increasing prevalence of the disease in the region. There has been a rise in the number of reported cases of Multiple Sclerosis in recent years, particularly in countries such as Iran, Turkey, and Israel. As a result, there is a growing demand for effective treatments that can help manage the symptoms of the disease.

Local special circumstances: One of the key challenges facing the market for Multiple Sclerosis Drugs in Western Asia is the lack of awareness and understanding of the disease among healthcare professionals and the general public. This has led to a delay in diagnosis and treatment, which can have a significant impact on the long-term outcomes for patients. Additionally, there are significant variations in healthcare infrastructure and access to treatments across the region.

Underlying macroeconomic factors: The market for Multiple Sclerosis Drugs in Western Asia is also being influenced by broader economic and political factors. The ongoing conflict in Syria, for example, has had a significant impact on healthcare provision in the country, with many patients struggling to access essential treatments. Similarly, economic sanctions in Iran have limited the availability of certain drugs and led to price increases for others.

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.