Antiviral Drugs - G20

The Antiviral Drugs market is anticipated to witness a substantial growth in the coming years.
By 2024, the projected revenue is expected to reach a staggering US$48.47bn.
This growth is further expected to continue with an annual growth rate of 1.56% from 2024 to 2029, resulting in a market volume of US$52.37bn by 2029.
When comparing the revenue generated globally, it is evident that United States will dominate the market.
In 2024, it is projected that United States will generate the highest revenue in the Antiviral Drugs market, reaching US$30,640.00m.
Such figures highlight the significant contribution of the United States within the G20 countries.
In India, the demand for antiviral drugs has surged due to the rising cases of COVID-19.

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

Market

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Analyst Opinion

The Antiviral Drugs market in G20 countries is experiencing significant growth due to the increasing prevalence of viral diseases and the rising demand for effective treatments.

Customer preferences: Customers in G20 countries are increasingly seeking antiviral drugs that are not only effective but also affordable. They are also looking for drugs that have minimal side effects and can be easily administered. As a result, there is a growing demand for generic antiviral drugs, which are more affordable than branded drugs.

Trends in the market: In the United States, there has been a significant increase in the demand for antiviral drugs due to the outbreak of the COVID-19 pandemic. This has led to a surge in demand for drugs such as remdesivir, which has been approved by the FDA for emergency use in treating COVID-19 patients. In China, there has been a growing trend towards the use of traditional Chinese medicine (TCM) in the treatment of viral diseases. TCM has been used for centuries in China to treat various ailments, including viral infections, and its popularity has been growing in recent years.In Europe, there has been a significant increase in the demand for antiviral drugs due to the increasing prevalence of viral diseases such as HIV, hepatitis, and influenza. The European market is dominated by a few key players, including Gilead Sciences, Roche, and GlaxoSmithKline.

Local special circumstances: In India, the antiviral drugs market is driven by the high prevalence of viral diseases such as HIV, hepatitis, and dengue fever. The Indian market is dominated by generic drug manufacturers, who are able to offer drugs at a significantly lower cost than their branded counterparts. In addition, the Indian government has implemented several initiatives to increase access to affordable antiviral drugs, including price controls and subsidies for generic drug manufacturers.In Brazil, the antiviral drugs market is driven by the high prevalence of viral diseases such as HIV and hepatitis. The Brazilian market is dominated by a few key players, including Gilead Sciences and AbbVie. The Brazilian government has implemented several initiatives to increase access to affordable antiviral drugs, including compulsory licensing of patented drugs and price controls.

Underlying macroeconomic factors: The global antiviral drugs market is expected to continue to grow in the coming years, driven by factors such as increasing prevalence of viral diseases, rising demand for effective treatments, and growing investment in research and development. However, the market is also facing several challenges, including increasing competition from generic drug manufacturers, high development costs, and regulatory hurdles. In addition, the outbreak of the COVID-19 pandemic has highlighted the need for more effective and affordable antiviral drugs, which is likely to drive further investment in research and development in the coming years.

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.