Antiviral Drugs - Equatorial Guinea

Equatorial Guinea

The Antiviral Drugs market in Equatorial Guinea is expected to witness a significant growth in revenue, with projections indicating that it will reach a staggering US$1.13m in 2024.
Furthermore, the market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 1.21%, culminating in a market volume of US$1.20m by 2029.
In a global context, it is noteworthy that United States is poised to generate the highest revenue in this market, with an estimated value of US$30,640.00m in 2024.
Equatorial Guinea's demand for antiviral drugs is increasing due to its efforts to combat infectious diseases prevalent in the region.

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

Market

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Analyst Opinion

Antiviral drugs are medications used to treat viral infections by inhibiting the growth of the virus. Equatorial Guinea, a small country in Central Africa with a population of approximately 1.4 million, has seen a developing market for antiviral drugs in recent years.

Customer preferences: The demand for antiviral drugs in Equatorial Guinea is primarily driven by the prevalence of viral infections such as HIV, hepatitis B, and hepatitis C. In addition, the COVID-19 pandemic has also increased the demand for antiviral drugs in the country. Customers in Equatorial Guinea prefer affordable and effective antiviral drugs that are easily accessible.

Trends in the market: The antiviral drugs market in Equatorial Guinea has been growing steadily in recent years due to increased awareness and prevalence of viral infections. The market is dominated by generic drugs due to their affordability and accessibility. The COVID-19 pandemic has also led to an increase in demand for antiviral drugs, particularly those used in the treatment of COVID-19.

Local special circumstances: Equatorial Guinea has a relatively small healthcare sector with limited resources and infrastructure. This has led to challenges in the distribution and availability of antiviral drugs, particularly in rural areas. In addition, the country has a high prevalence of counterfeit drugs, which poses a significant risk to public health.

Underlying macroeconomic factors: Equatorial Guinea has a small and developing economy with a heavy reliance on the oil sector. The country has been impacted by the global decline in oil prices, which has led to a decrease in government revenue and limited resources for healthcare. This has made it challenging to invest in the healthcare sector and improve the availability of antiviral drugs.In conclusion, the antiviral drugs market in Equatorial Guinea has been developing steadily in recent years, driven by the prevalence of viral infections and the COVID-19 pandemic. However, the country's limited resources and infrastructure pose significant challenges to the distribution and availability of antiviral drugs.

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.