Antiviral Drugs - Ghana

Ghana

The Antiviral Drugs market in Ghana is estimated to witness a significant increase in revenue, projected to reach US$8.35m by 2024.
This growth is expected to continue with a compound annual growth rate (CAGR 2024-2029) of 1.89%, leading to a market volume of US$9.17m by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue, amounting to US$30,640.00m in 2024.
Ghana's increasing demand for antiviral drugs reflects the country's commitment to combating infectious diseases and improving public health.

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

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Analyst Opinion

Antiviral drugs are used to treat viral infections by inhibiting the growth of viruses. In Ghana, the Antiviral Drugs market is experiencing a steady growth rate due to various factors.

Customer preferences: The demand for Antiviral Drugs in Ghana is driven by the increasing prevalence of viral infections such as HIV/AIDS, hepatitis B and C, and influenza. Customers prefer Antiviral Drugs due to their effectiveness in treating these diseases.

Trends in the market: The Antiviral Drugs market in Ghana is witnessing a shift towards generic drugs due to their affordability and availability. The government is also promoting the use of generic drugs to reduce the burden on the healthcare system. The market is also witnessing an increase in the use of combination therapies to treat viral infections. Combination therapies are more effective than single-drug therapies and have fewer side effects.

Local special circumstances: Ghana has a high prevalence of HIV/AIDS, with an estimated 340,000 people living with the disease. The government has implemented various initiatives to reduce the spread of HIV/AIDS, such as providing free Antiviral Drugs to HIV-positive individuals. The government is also promoting the use of Antiviral Drugs to prevent mother-to-child transmission of HIV.

Underlying macroeconomic factors: Ghana's healthcare system is undergoing significant reforms to improve access to healthcare services. The government is investing in the healthcare system, and this is expected to increase the demand for Antiviral Drugs. The country's economy is also growing, and this is expected to increase the purchasing power of consumers, leading to an increase in demand for healthcare services, including 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.