Antiviral Drugs - Baltics | Statista Market Forecast

In the Baltics, the projected revenue in the Antiviral Drugs market for 2024 is estimated to be US$37.84m.
This market is expected to experience an annual growth rate of 2.08% from 2024 to 2029, resulting in a market volume of US$41.94m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, reaching US$30.64bn in 2024.
In the Baltics, there is a growing demand for antiviral drugs due to the increasing prevalence of viral infections in the region.

Definition:
The Antiviral Drugs market includes treatments against viruses and virus-induced conditions, such as human immunodeficiency viruses (HIV), hepatitis B and C viruses (HBV and HCV), and Ebola. Therapies for the coronavirus disease 2019 (COVID-19), caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), are also included. HIV therapies also encompass highly active antiretroviral therapies (HAART) and post-exposure prophylaxis. In contrast to antibiotics, antivirals do not destroy the virus but rather inhibit its development.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Gilead Sciences, GlaxoSmithKline, Johnson & Johnson, AbbVie, Merck

HIV
Hepatitis B and hepatitis C
Ebola
COVID-19

Vaccines
Antibiotics
Immunosuppressants
In vitro diagnostics and rapid tests

The demand for antiviral drugs in the Baltics region has been on the rise in recent years.

Customer preferences: The increase in demand for antiviral drugs in the Baltics region can be attributed to the growing awareness among consumers about the benefits of these drugs in treating viral infections. Customers in the region are increasingly seeking antiviral drugs that are effective against a wide range of viral infections and have minimal side effects.

Trends in the market: One of the major trends in the antiviral drugs market in the Baltics region is the increasing focus on developing new and innovative drugs to treat viral infections. Pharmaceutical companies are investing heavily in research and development to come up with new drugs that are more effective and have fewer side effects. Another trend in the market is the growing popularity of combination therapies, which involve the use of two or more antiviral drugs to treat viral infections.

Local special circumstances: The Baltics region comprises three countries: Estonia, Latvia, and Lithuania. Each of these countries has its own unique healthcare system and regulatory environment. In Estonia, for example, the government has introduced several measures to promote the use of generic drugs, which has led to increased competition in the market and lower prices for consumers. In Latvia, the government has implemented a centralized procurement system for drugs, which has helped to reduce the cost of healthcare for patients.

Underlying macroeconomic factors: The growing demand for antiviral drugs in the Baltics region can be attributed to several macroeconomic factors. One of the key factors is the increasing prevalence of viral infections, such as influenza and hepatitis, in the region. Another factor is the growing aging population, which is more susceptible to viral infections. Additionally, the increasing disposable income of consumers in the region has made it possible for them to afford more expensive drugs, including antiviral drugs.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.