Multiple Sclerosis Drugs - Italy

Italy

Italy is expected to contribute to the revenue growth in the Multiple Sclerosis Drugs market.
By 2024, the projected revenue for this market in Italy is estimated to reach €0.30bn.
Looking ahead, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 0.66%, leading to a market volume of €0.31bn by 2029.
It is noteworthy that United States will generate the highest revenue globally, with an estimated amount of €10,800.00m in 2024.
Italy's increasing demand for innovative Multiple Sclerosis drugs is driving pharmaceutical companies to invest in research and development to meet the country's specific healthcare needs.

Key regions: France, India, United Kingdom, South Korea, Japan

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Analyst Opinion

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

Customer preferences: Patients suffering from multiple sclerosis in Italy are increasingly seeking treatment options that can help improve their quality of life. As a result, there has been a growing demand for drugs that can alleviate symptoms such as fatigue, spasticity, and pain. Patients are also looking for drugs that can slow down the progression of the disease and reduce the frequency and severity of relapses.

Trends in the market: One of the major trends in the Multiple Sclerosis Drugs market in Italy is the increasing use of disease-modifying therapies (DMTs). These drugs are designed to slow down the progression of the disease and reduce the frequency and severity of relapses. There has been a growing preference for DMTs that can be administered orally, as they are more convenient for patients and can help improve adherence to treatment. Another trend in the market is the increasing use of biosimilars, which are cheaper versions of biologic drugs that have the same efficacy and safety profile.

Local special circumstances: Italy has a high prevalence of multiple sclerosis, with an estimated 130,000 people living with the disease. This has created a significant burden on the healthcare system, and there is a growing need for cost-effective treatments that can help manage the disease. The Italian government has implemented policies to promote the use of generic drugs and biosimilars, which has helped reduce the cost of treatment for patients.

Underlying macroeconomic factors: The Multiple Sclerosis Drugs market in Italy is also influenced by macroeconomic factors such as the aging population and the increasing burden of chronic diseases. Italy has one of the highest aging populations in Europe, and this has led to an increase in the number of people suffering from chronic diseases such as multiple sclerosis. The Italian government has been investing in healthcare infrastructure and services to meet the growing demand for treatment.In conclusion, the Multiple Sclerosis Drugs market in Italy is experiencing significant growth due to the increasing demand for drugs that can alleviate symptoms and slow down the progression of the disease. The market is also influenced by trends such as the increasing use of DMTs and biosimilars, as well as local special circumstances such as the high prevalence of multiple sclerosis and the need for cost-effective treatments. The underlying macroeconomic factors such as the aging population and the increasing burden of chronic diseases are also contributing to the growth of the market.

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.