Antiviral Drugs - Australia & Oceania

Australia & Oceania

In Australia & Oceania, the revenue in the Antiviral Drugs market is anticipated to reach US$0.47bn in 2024.
Looking ahead, it is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 2.04%.
This growth trajectory is projected to lead to a market volume of US$0.52bn by 2029.
When comparing globally, United States is expected to generate the highest revenue, with US$30,640.00m in 2024.
Australia & Oceania is experiencing a surge in demand for antiviral drugs due to the region's vulnerability to tropical diseases.

Key regions: Brazil, India, Australia, United States, United Kingdom

Market

Region

Region comparison

Currency

Analyst Opinion

The Antiviral Drugs market in Australia & Oceania is experiencing steady growth due to several factors.

Customer preferences: Customers in Australia & Oceania are increasingly seeking antiviral drugs due to the rise in viral infections. The aging population is particularly vulnerable to viral infections, leading to an increase in demand for antiviral drugs. Additionally, the COVID-19 pandemic has heightened awareness of the importance of antiviral drugs in preventing the spread of viral infections.

Trends in the market: Australia & Oceania is witnessing a trend towards the development of new antiviral drugs. Pharmaceutical companies are investing heavily in research and development to create new and innovative antiviral drugs. Additionally, there is a growing trend towards the use of combination therapies, which involve the use of multiple antiviral drugs to combat viral infections. Combination therapies have been found to be more effective than single-drug therapies in treating viral infections.

Local special circumstances: Australia & Oceania is home to a large indigenous population, and there is a growing need for antiviral drugs that are tailored to the specific needs of this population. Additionally, the region is prone to natural disasters such as cyclones and floods, which can lead to the spread of viral infections. This has led to an increased demand for antiviral drugs in these areas.

Underlying macroeconomic factors: Australia & Oceania has a strong healthcare system, which has contributed to the growth of the antiviral drugs market. Additionally, the region has a high level of healthcare spending, which has allowed for the development of new and innovative antiviral drugs. The region's strong economy has also contributed to the growth of the antiviral drugs market, as consumers have more disposable income to spend on healthcare.

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.