Antiviral Drugs - Canada

Canada

In Canada, the revenue in the Antiviral Drugs market is forecasted to reach US$0.80bn in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 1.69%, leading to a market volume of US$0.87bn by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$30,640.00m in 2024.
Canada's pharmaceutical industry is experiencing a surge in demand for antiviral drugs due to the country's proactive approach in healthcare and preparedness for infectious disease outbreaks.

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

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Analyst Opinion

Antiviral drugs have been an essential part of the global pharmaceutical industry for years now. Canada, being one of the largest pharmaceutical markets in the world, has seen significant growth in the antiviral drugs market in recent years.

Customer preferences: The Canadian population has become increasingly aware of the benefits of antiviral drugs in treating viral infections. With the rise of viral infections such as COVID-19, the demand for antiviral drugs has increased significantly. The population's preference for antiviral drugs has also been driven by the effectiveness and convenience of antiviral drugs in treating viral infections.

Trends in the market: The antiviral drugs market in Canada has seen significant growth in recent years, driven by the increasing prevalence of viral infections and the growing demand for antiviral drugs. The market has also witnessed the emergence of new antiviral drugs, which have been developed to treat specific viral infections. The market has seen a shift towards the development of antiviral drugs that can be administered orally, making it more convenient for patients to take their medication.

Local special circumstances: Canada has a well-established healthcare system that provides universal coverage to its citizens. This has led to a high demand for antiviral drugs, as patients have access to affordable healthcare. The country also has a large aging population, which is more susceptible to viral infections, further driving the demand for antiviral drugs.

Underlying macroeconomic factors: The Canadian pharmaceutical industry is highly regulated, with strict pricing controls in place. This has led to a competitive pricing environment, with pharmaceutical companies competing to offer the most affordable antiviral drugs. The Canadian government has also invested heavily in the development of new antiviral drugs, providing funding for research and development.In conclusion, the antiviral drugs market in Canada has seen significant growth in recent years, driven by the increasing prevalence of viral infections and the growing demand for antiviral drugs. The market has witnessed the emergence of new antiviral drugs, which have been developed to treat specific viral infections. Canada's well-established healthcare system, large aging population, and competitive pricing environment have also contributed to the growth of the antiviral drugs market in the country.

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.