Key regions: Brazil, India, Australia, United States, United Kingdom
The demand for antiviral drugs in Hong Kong has been on the rise in recent years.
Customer preferences: Hong Kong has a high population density, which makes it easier for viruses to spread. As a result, people in Hong Kong are more aware of the importance of taking precautions to prevent viral infections. This increased awareness has led to a higher demand for antiviral drugs.
Trends in the market: One of the main trends in the antiviral drugs market in Hong Kong is the growing preference for natural remedies. Many people in Hong Kong believe that natural remedies are safer and have fewer side effects than synthetic drugs. This has led to an increase in demand for natural antiviral products, such as herbal remedies and supplements.Another trend in the market is the increasing availability of antiviral drugs over-the-counter. In the past, most antiviral drugs in Hong Kong were only available with a prescription. However, as more people become aware of the importance of antiviral drugs, many pharmacies have started to stock them over-the-counter.
Local special circumstances: Hong Kong is a global city and a major transportation hub, which makes it more vulnerable to the spread of viruses. The city has experienced several outbreaks of infectious diseases in the past, such as SARS in 2003 and the H1N1 flu in 2009. These outbreaks have made people in Hong Kong more aware of the importance of antiviral drugs and other preventative measures.
Underlying macroeconomic factors: Hong Kong has a highly developed healthcare system, which has contributed to the growth of the antiviral drugs market. The government provides a wide range of healthcare services, including public hospitals, clinics, and health centers. This has made it easier for people in Hong Kong to access antiviral drugs and other healthcare services.In addition, Hong Kong has a high per capita income and a strong economy, which has led to an increase in healthcare spending. As people in Hong Kong become more health-conscious, they are willing to spend more on preventative measures, such as antiviral drugs. This has contributed to the growth of the antiviral drugs market in Hong Kong.
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.
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