Multiple Sclerosis Drugs - Spain

Spain

The market of Multiple Sclerosis Drugs market in Spain is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$291.90m.
This positive trend is expected to continue with an annual growth rate of 0.69% (CAGR 2024-2028), resulting in a market volume of US$300.00m by 2028.
When comparing the revenue generated globally, United States is expected to dominate the market, with an estimated revenue of US$12,360.00m in 2024.
Spain is experiencing a surge in demand for innovative multiple sclerosis drugs, driven by a growing patient population and increasing awareness of treatment options.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in Spain has been experiencing significant growth in recent years.

Customer preferences: Patients suffering from Multiple Sclerosis in Spain have shown a preference for disease-modifying therapies that can help slow down the progression of the disease and improve their quality of life. As a result, there has been a growing demand for drugs that can provide long-term benefits and reduce the frequency of relapses.

Trends in the market: One of the key trends in the Multiple Sclerosis Drugs market in Spain is the increasing use of oral therapies. These drugs are more convenient for patients to take and have been shown to be effective in reducing the frequency of relapses. In addition, there has been a growing trend towards personalized medicine, with doctors using genetic testing to determine which drugs will be most effective for individual patients.

Local special circumstances: Spain has one of the highest rates of Multiple Sclerosis in the world, with an estimated 47,000 people living with the disease. This has led to a strong focus on research and development in the country, with many pharmaceutical companies investing in clinical trials and new drug development.

Underlying macroeconomic factors: Spain has a well-developed healthcare system that provides universal coverage to all citizens. This has helped to drive demand for Multiple Sclerosis Drugs, as patients have access to the treatments they need regardless of their ability to pay. In addition, the Spanish government has been supportive of the pharmaceutical industry, providing funding for research and development and offering tax incentives to companies that invest in drug development.

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.