Multiple Sclerosis Drugs - Iran

Iran

The Multiple Sclerosis Drugs market in Iran is anticipated to witness a significant surge in revenue, with projections indicating a staggering amount of US$158.80m in 2024.
This growth is further expected to continue at a steady pace, with an annual growth rate (CAGR 2024-2028) of 0.33%.
By the year 2028, the market volume is estimated to reach an impressive US$160.90m.
When compared globally, it is worth noting that United States is expected to dominate the market, generating a substantial revenue of US$12,360.00m in 2024.
Due to economic sanctions, Iran faces challenges in accessing and providing affordable multiple sclerosis drugs to its population.

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

Market

Region

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Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Iran has been showing a steady growth in recent years.

Customer preferences: Iran has a high prevalence of Multiple Sclerosis (MS) cases, which has led to an increase in demand for MS drugs. The customers in Iran prefer to use locally manufactured drugs due to the lower cost compared to imported drugs.

Trends in the market: The Iranian government has been promoting the domestic production of pharmaceuticals, including MS drugs. This has led to an increase in the number of local manufacturers of MS drugs. In addition, the government has been providing subsidies for the production of essential medicines, including MS drugs. This has made MS drugs more affordable for the patients in Iran.

Local special circumstances: The sanctions imposed by the United States have had a significant impact on the pharmaceutical industry in Iran. The sanctions have limited the ability of Iranian companies to import raw materials and technology needed for the production of pharmaceuticals. This has led to a shortage of some drugs, including MS drugs. However, the Iranian government has been taking measures to mitigate the impact of the sanctions on the pharmaceutical industry.

Underlying macroeconomic factors: The Iranian economy has been facing significant challenges in recent years, including high inflation and unemployment rates. The devaluation of the Iranian currency has made it more expensive to import drugs, which has led to an increase in demand for locally manufactured drugs. The government has been implementing policies to support the domestic production of pharmaceuticals, which has helped to create jobs and reduce the reliance on imports.In conclusion, the Multiple Sclerosis Drugs market in Iran has been growing due to the high prevalence of MS cases and the government's support for the domestic production of pharmaceuticals. The customers in Iran prefer to use locally manufactured drugs due to their lower cost. However, the sanctions imposed by the United States have had a significant impact on the pharmaceutical industry in Iran, including the MS drugs market. The Iranian government has been taking measures to mitigate the impact of the sanctions and promote the domestic production of essential medicines.

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.