Multiple Sclerosis Drugs - Japan

Japan

In Japan, the Multiple Sclerosis Drugs market is anticipated to witness a significant growth in revenue, reaching a projected value of US$0.92bn by 2024.
This indicates a promising future for the market in the country.
Furthermore, it is expected that the market will continue to expand steadily with an annual growth rate (CAGR 2024-2028) of 1.07%.
By 2028, the market volume is estimated to reach US$0.96bn, reflecting the increasing demand for Multiple Sclerosis Drugs market in Japan.
When compared on a global scale, United States is expected to generate the highest revenue in the Multiple Sclerosis Drugs market.
In 2024, United States is projected to generate a revenue of US$12,360.00m.
This highlights the prominence of the United States as a leading market player in the pharmaceutical industry, particularly in the field of Multiple Sclerosis Drugs market.
Japan's Multiple Sclerosis Drugs market is experiencing a surge in research and development activities, with pharmaceutical companies focusing on innovative therapies tailored to the specific needs of Japanese patients.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in Japan has been experiencing steady growth in recent years.

Customer preferences: Patients in Japan suffering from Multiple Sclerosis have been increasingly opting for disease-modifying therapies (DMTs) that are effective in reducing the frequency of relapses. Patients are also looking for therapies that can help slow down the progression of the disease and improve their quality of life.

Trends in the market: The Multiple Sclerosis Drugs market in Japan has been growing due to the introduction of new DMTs and the increasing prevalence of Multiple Sclerosis in the country. The market has also been witnessing a shift towards oral therapies, which are more convenient for patients. In addition, there has been an increasing focus on personalized medicine, with the development of therapies that target specific subtypes of the disease.

Local special circumstances: One of the unique challenges in Japan is the high cost of healthcare. The government has been implementing measures to control healthcare costs, which has led to pricing pressures on pharmaceutical companies. In addition, the regulatory environment for drug approval in Japan can be complex and time-consuming, which can delay the launch of new therapies in the market.

Underlying macroeconomic factors: The aging population in Japan has been a driving force behind the growth of the Multiple Sclerosis Drugs market. Multiple Sclerosis is more common in individuals over the age of 40, and with Japan having one of the highest life expectancies in the world, the number of people living with the disease is expected to increase. The government has also been investing in research and development in the healthcare sector, which has led to the development of new therapies for Multiple Sclerosis.

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.