Antiviral Drugs - Belgium

Belgium

Belgium is projected to witness a significant revenue growth in the Antiviral Drugs market, with an estimated revenue of US$231.20m in 2024.
Looking ahead, the market is expected to maintain a steady annual growth rate (CAGR 2024-2029) of 1.21%.
This growth trajectory is anticipated to lead to a market volume of US$245.50m by 2029.
In the global context, it is worth noting that United States is expected to generate the highest revenue in the Antiviral Drugs market, reaching a staggering US$30,640.00m in 2024.
Belgium's antiviral drug market is witnessing a surge in demand due to the country's proactive approach in tackling viral outbreaks.

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

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Analyst Opinion

Antiviral drugs are medications used to treat viral infections, and the market for these drugs in Belgium has been steadily growing in recent years.

Customer preferences: Belgian customers are increasingly seeking antiviral drugs that are effective against a wide range of viruses, including influenza, hepatitis, and HIV. They also prefer drugs that have fewer side effects and are easy to administer.

Trends in the market: One of the biggest trends in the antiviral drugs market in Belgium is the increasing demand for combination therapies. These are drugs that combine multiple antiviral agents to treat a variety of viral infections. Combination therapies are becoming more popular because they are often more effective than single-agent therapies and can reduce the risk of drug resistance.Another trend in the market is the growing use of antiviral drugs for prophylaxis, or prevention of viral infections. This is particularly true in the case of influenza, where antiviral drugs can be used to prevent infection in people who have been exposed to the virus.

Local special circumstances: Belgium has a high rate of hepatitis C infection, which has led to a focus on the development of new antiviral drugs to treat this disease. The Belgian government has also taken steps to increase access to these drugs by negotiating lower prices with pharmaceutical companies.

Underlying macroeconomic factors: The growth of the antiviral drugs market in Belgium is being driven by a number of macroeconomic factors, including an aging population and an increase in the prevalence of viral infections. In addition, the Belgian government has been investing in healthcare infrastructure and research, which has helped to drive innovation in the pharmaceutical industry. Finally, the country's strong intellectual property laws and regulatory environment have made it an attractive location for pharmaceutical companies to conduct research and 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.