Multiple Sclerosis Drugs - Zimbabwe

Zimbabwe

The market for Multiple Sclerosis Drugs market in Zimbabwe is estimated to achieve a revenue of US$1.05m in 2024.
This sector is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of -0.58%, leading to a market volume of US$1.02m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$11,770.00m in 2024.
Despite the economic challenges in Zimbabwe, there is a growing demand for Multiple Sclerosis drugs due to increasing awareness and access to healthcare.

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

Market

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Analyst Opinion

The demand for Multiple Sclerosis Drugs in Zimbabwe has been increasing over the years, and the trend is expected to continue in the coming years.

Customer preferences: Zimbabwean customers prefer Multiple Sclerosis Drugs that are affordable, effective, and have minimal side effects. They also prefer drugs that are easily accessible in the local market.

Trends in the market: The Multiple Sclerosis Drugs market in Zimbabwe is witnessing an increase in the number of drugs available in the market. This is due to the entry of new players in the market, which is increasing competition. The market is also witnessing an increase in the number of generic drugs, which are more affordable than branded drugs. The demand for oral drugs is also increasing in Zimbabwe, as they are more convenient to use than injectable drugs.

Local special circumstances: Zimbabwe is a low-income country, and many people cannot afford expensive drugs. This has led to an increase in the demand for generic drugs, which are more affordable than branded drugs. The country also has a shortage of healthcare professionals, which has led to a lack of awareness about Multiple Sclerosis Drugs among the general population.

Underlying macroeconomic factors: Zimbabwe's economy has been struggling for many years, and this has had an impact on the healthcare sector. The country has a shortage of foreign currency, which has made it difficult to import drugs. The government has also been struggling to provide adequate funding to the healthcare sector, which has led to a lack of resources and infrastructure. The COVID-19 pandemic has also had an impact on the healthcare sector, as resources have been diverted towards fighting the pandemic.In conclusion, the Multiple Sclerosis Drugs market in Zimbabwe is expected to continue to grow in the coming years, driven by an increase in the number of drugs available in the market and the demand for affordable drugs. However, the market is also facing challenges, such as a shortage of healthcare professionals, a lack of awareness about Multiple Sclerosis Drugs, and a struggling economy.

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.