Multiple Sclerosis Drugs - Australia & Oceania

Australia & Oceania

In Australia & Oceania, the Multiple Sclerosis Drugs market is projected to witness a substantial increase in revenue, with a projected amount of US$236.00m in 2024.
Looking ahead, the market is expected to maintain a steady growth rate, with a compound annual growth rate (CAGR 2024-2028) of 1.33%.
This growth trajectory will result in a market volume of US$248.80m by 2028.
When compared on a global scale, it is worth noting that United States is anticipated to generate the highest revenue in this market.
In 2024, the projected revenue for the United States is estimated to be US$12,360.00m.
Australia & Oceania's multiple sclerosis drug market is witnessing a surge in demand for novel therapies and personalized treatment options.

Key regions: South Korea, Brazil, Australia, China, Japan

Market

Region

Region comparison

Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Australia & Oceania is seeing a steady growth in recent years.

Customer preferences: Patients in Australia & Oceania region are increasingly preferring oral medications over injectables. This trend is in line with the global market where oral drugs are becoming more popular due to their convenience and ease of administration. Additionally, patients are also showing a preference for drugs with fewer side effects and better efficacy.

Trends in the market: The Multiple Sclerosis Drugs market in Australia & Oceania is witnessing an increase in the availability of new and innovative drugs. This is due to the rising prevalence of multiple sclerosis in the region and the increasing focus of pharmaceutical companies on developing drugs for this market. The market is also seeing a trend towards personalized medicine, with drugs being developed to target specific subtypes of multiple sclerosis.

Local special circumstances: The healthcare system in Australia & Oceania is different from other regions, with a greater emphasis on public healthcare. This has resulted in a greater focus on cost-effectiveness and the affordability of drugs. Additionally, the region's geographic isolation has resulted in a greater reliance on imported drugs, which can impact the availability and pricing of drugs.

Underlying macroeconomic factors: The economic growth in Australia & Oceania is driving the growth of the Multiple Sclerosis Drugs market. The rising disposable income and increasing healthcare expenditure are contributing to the growth of the market. Additionally, the aging population in the region is also driving the demand for multiple sclerosis drugs.

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.