Multiple Sclerosis Drugs - Georgia

Georgia

The Multiple Sclerosis Drugs market in Georgia is expected to witness a significant growth in revenue, with projections indicating that it will reach a staggering US$2.53m by the year 2024.
This growth is further expected to continue, with an anticipated annual growth rate (CAGR 2024-2028) of 1.64%, resulting in a robust market volume of US$2.70m by 2028.
In comparison to other countries worldwide, United States is poised to generate the highest revenue in this market, with an estimated US$12,360.00m in 2024.
Georgia has seen a significant increase in the demand for innovative multiple sclerosis drugs, driving investments and advancements in the country's healthcare sector.

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

Market

Region

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Currency

Analyst Opinion

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

Customer preferences: Patients suffering from Multiple Sclerosis in Georgia prefer drugs that can help them manage symptoms such as muscle spasms, fatigue, and pain. They also prefer drugs that can slow down the progression of the disease.

Trends in the market: The Multiple Sclerosis Drugs market in Georgia has been witnessing a trend towards the use of disease-modifying therapies (DMTs). These drugs can slow down the progression of the disease and reduce the frequency and severity of relapses. There has also been an increased focus on personalized medicine, with doctors prescribing drugs based on a patient's individual needs and medical history.

Local special circumstances: Georgia has a relatively high prevalence of Multiple Sclerosis compared to other countries in the region. This has led to an increased demand for drugs that can help manage the symptoms and progression of the disease. However, the market for Multiple Sclerosis Drugs in Georgia is relatively small compared to other countries, which has led to limited availability of certain drugs.

Underlying macroeconomic factors: The Georgian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. The government has also been investing in the healthcare sector, which has led to an improvement in the quality of healthcare services. However, the country still faces challenges such as a shortage of healthcare professionals and limited access to healthcare services in rural areas. These factors can impact the availability and accessibility of Multiple Sclerosis Drugs in the country.

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.