Multiple Sclerosis Drugs - Southern Asia

Southern Asia

The Multiple Sclerosis Drugs market in Southern Asia is anticipated to achieve a revenue of US$251.50m by the year 2024.
It is predicted that the revenue will experience a compound annual growth rate (CAGR 2024-2028) of 1.78%, ultimately leading to a market volume of US$269.90m by 2028.
When compared globally, United States is expected to generate the highest revenue, amounting to US$12,360.00m in 2024.
In Southern Asia, the demand for innovative multiple sclerosis drugs is steadily increasing, driven by a growing patient population and rising awareness about the disease.

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

Market

Region

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Currency

Analyst Opinion

The Multiple Sclerosis Drugs market in Southern Asia has been steadily growing in recent years.

Customer preferences: Patients with Multiple Sclerosis in Southern Asia have been increasingly seeking out newer drugs that offer better efficacy and safety profiles. There is also a growing preference for oral medications over injectables. Additionally, patients are becoming more aware of the disease and its treatment options, leading to an increase in diagnosis rates and demand for treatment.

Trends in the market: India is the largest market for Multiple Sclerosis Drugs in Southern Asia, accounting for a significant portion of the regional market share. The market is primarily driven by the availability of affordable generic drugs. However, there has been a recent trend towards the adoption of newer, more expensive drugs due to their improved efficacy and safety profiles. In other countries in the region, such as Pakistan and Bangladesh, the market is still in its nascent stages, with limited availability of drugs and low diagnosis rates.

Local special circumstances: One of the major challenges facing the Multiple Sclerosis Drugs market in Southern Asia is the lack of awareness and understanding of the disease among healthcare professionals and the general public. This has led to underdiagnosis and undertreatment of the disease. Additionally, the high cost of newer drugs can be a barrier to access for many patients in the region.

Underlying macroeconomic factors: The growing middle class in Southern Asia has led to an increase in demand for healthcare services, including treatments for chronic diseases like Multiple Sclerosis. Additionally, the region's rapidly aging population is expected to drive further growth in the market in the coming years. However, the market is also subject to regulatory and political risks, which can impact the availability and pricing of 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.