Key regions: Brazil, India, Australia, United States, United Kingdom
The demand for antiviral drugs has been on the rise in the BRICS countries.
Customer preferences: Customers in BRICS countries have shown a growing preference for antiviral drugs due to the increasing prevalence of viral infections. The outbreak of the COVID-19 pandemic has further accelerated the demand for antiviral drugs in these countries.
Trends in the market: Brazil has emerged as the largest market for antiviral drugs in the BRICS region due to the high incidence of viral infections in the country. Russia is also witnessing a significant growth in the antiviral drugs market due to the increasing prevalence of hepatitis C. India is emerging as a major market for antiviral drugs due to the high burden of HIV and hepatitis B in the country. China has witnessed a surge in the demand for antiviral drugs due to the outbreak of COVID-19 and the government's efforts to curb the spread of the virus. South Africa is also witnessing a steady growth in the antiviral drugs market due to the high prevalence of HIV in the country.
Local special circumstances: Brazil has a well-established healthcare system which has contributed to the growth of the antiviral drugs market in the country. Russia has a high burden of hepatitis C which has led to a significant demand for antiviral drugs in the country. India has a large population which has contributed to the high burden of viral infections in the country. China has a large number of pharmaceutical companies which has led to the development of new antiviral drugs in the country. South Africa has a high burden of HIV which has led to a significant demand for antiviral drugs in the country.
Underlying macroeconomic factors: The BRICS countries have witnessed significant economic growth in the past decade which has led to an increase in healthcare spending. The increasing burden of viral infections in these countries has also contributed to the growth of the antiviral drugs market. The outbreak of the COVID-19 pandemic has further accelerated the demand for antiviral drugs in these countries. The growing middle class in these countries has also led to an increase in healthcare spending and a higher demand for 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.
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