Antiviral Drugs - GCC | Statista Market Forecast

The Antiviral Drugs market in GCC is anticipated to witness a substantial increase in revenue, with projections indicating it will reach US$375.00m units by the year 2024.
Furthermore, there is an expected annual growth rate (CAGR 2024-2029) of 1.82%, which would result in a market volume of US$410.40m units by 2029.
In terms of global comparison, United States is forecasted to generate the highest revenue, amounting to US$30.64bn units in 2024.
The GCC countries are witnessing a growing demand for antiviral drugs due to the increasing prevalence of viral infections in the region.

Definition:
The Antiviral Drugs market includes treatments against viruses and virus-induced conditions, such as human immunodeficiency viruses (HIV), hepatitis B and C viruses (HBV and HCV), and Ebola. Therapies for the coronavirus disease 2019 (COVID-19), caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), are also included. HIV therapies also encompass highly active antiretroviral therapies (HAART) and post-exposure prophylaxis. In contrast to antibiotics, antivirals do not destroy the virus but rather inhibit its development.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Gilead Sciences, GlaxoSmithKline, Johnson & Johnson, AbbVie, Merck

HIV
Hepatitis B and hepatitis C
Ebola
COVID-19

Vaccines
Antibiotics
Immunosuppressants
In vitro diagnostics and rapid tests

The Antiviral Drugs market in GCC has been exhibiting steady growth in recent years.

Customer preferences: The demand for antiviral drugs in GCC has been increasing due to the rising prevalence of viral infections in the region. Customers are increasingly looking for effective and affordable antiviral drugs to treat various viral infections. Additionally, with the outbreak of COVID-19, the demand for antiviral drugs has surged significantly.

Trends in the market: The Antiviral Drugs market in GCC is witnessing a shift towards more innovative and advanced therapeutic drugs. The market is witnessing an increasing trend of research and development activities aimed at developing new and effective antiviral drugs. The focus is on developing drugs that are more potent, have fewer side effects, and can treat a wide range of viral infections. Additionally, the market is also witnessing an increasing trend of mergers and acquisitions among key players in the market.

Local special circumstances: The GCC region is prone to viral infections due to its hot and humid climate. The region is also witnessing an increasing influx of tourists, which increases the risk of viral infections. Additionally, the region has a high prevalence of diseases such as hepatitis, HIV, and influenza, which further increases the demand for antiviral drugs.

Underlying macroeconomic factors: The Antiviral Drugs market in GCC is driven by various macroeconomic factors such as the growing healthcare expenditure in the region. The GCC governments are investing heavily in the healthcare sector, which is driving the growth of the Antiviral Drugs market. Additionally, the region has a growing population that is increasingly aware of the importance of healthcare, which is further driving the demand for antiviral drugs. Furthermore, the region has a high prevalence of lifestyle diseases such as diabetes and obesity, which increases the risk of viral infections and further drives the demand for antiviral drugs.In conclusion, the Antiviral Drugs market in GCC is expected to continue its growth trajectory in the coming years. The increasing prevalence of viral infections, the focus on research and development, and the growing healthcare expenditure in the region are some of the key factors driving the growth of the market.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.