Multiple Sclerosis Drugs - United Kingdom

United Kingdom

The United Kingdom is projected to witness significant revenue growth in the Multiple Sclerosis Drugs market.
By 2024, the revenue is estimated to reach €0.56bn.
This growth is expected to continue at a compound annual growth rate (CAGR 2024-2029) of 2.06%, leading to a market volume of €0.62bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue in the Multiple Sclerosis Drugs market, reaching €10,910.00m in 2024.
The United Kingdom is witnessing a surge in the demand for innovative Multiple Sclerosis drugs, driven by a growing awareness and increasing healthcare investments.

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

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Analyst Opinion

The Multiple Sclerosis Drugs market in United Kingdom has been growing steadily over the past few years.

Customer preferences: Patients with Multiple Sclerosis (MS) in the United Kingdom prefer to use disease-modifying therapies (DMTs) to slow down the progression of the disease. The preference for DMTs over symptomatic therapies has resulted in a significant increase in the sales of DMTs in the country.

Trends in the market: The Multiple Sclerosis Drugs market in the United Kingdom has been witnessing a shift towards the use of oral DMTs. This trend is driven by the convenience of oral DMTs compared to injectable DMTs. The market is also witnessing the introduction of new DMTs, which are more effective than the existing therapies. The introduction of new therapies has resulted in increased competition among the market players, which is driving innovation and leading to the development of more effective therapies.

Local special circumstances: The Multiple Sclerosis Drugs market in the United Kingdom is highly regulated, and all drugs must be approved by the National Institute for Health and Care Excellence (NICE) before they can be prescribed by physicians. This regulatory framework has resulted in a slower uptake of new therapies compared to other countries, as the approval process can take several months.

Underlying macroeconomic factors: The United Kingdom has a well-established healthcare system, which provides access to healthcare services for all citizens. The country has a high prevalence of MS, which has resulted in a significant demand for MS drugs. The government's commitment to providing access to healthcare services has resulted in the availability of MS drugs at affordable prices for patients. The country's stable economy has also contributed to the growth of the MS drugs market, as patients have the financial means to purchase the 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.