Antiviral Drugs - Ireland | Statista Market Forecast

In Ireland, the revenue in the Antiviral Drugs market is forecasted to reach US$94.34m by the year 2024.
It is anticipated that the revenue will experience a steady annual growth rate of 1.34%, leading to a market volume of US$100.80m by 2029.
When compared globally, United States is expected to generate the highest revenue in the market, with an estimated amount of US$30.64bn in 2024.
Ireland's pharmaceutical industry is thriving, with a growing emphasis on research and development of antiviral drugs to combat infectious diseases.

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 Ireland has been showing positive growth in recent years.

Customer preferences: The demand for antiviral drugs in Ireland is driven by several factors, including an increase in the prevalence of viral infections such as HIV, hepatitis B and C, and influenza. Additionally, the aging population in Ireland is also contributing to the growth of the antiviral drugs market, as older individuals are more susceptible to viral infections and require more medical attention.

Trends in the market: One of the major trends in the antiviral drugs market in Ireland is the increasing use of combination therapies. Combination therapies involve the use of multiple antiviral drugs to treat a single infection, and have been shown to be more effective than single-drug therapies. Another trend in the market is the development of new antiviral drugs that are more effective and have fewer side effects. This is driving innovation in the market and providing new treatment options for patients.

Local special circumstances: One of the unique factors influencing the antiviral drugs market in Ireland is the country's healthcare system. Ireland has a public healthcare system, which means that many patients receive their antiviral drugs for free or at a reduced cost. This has led to high demand for antiviral drugs, as patients are more likely to seek treatment when it is affordable. Additionally, the Irish government has been investing in research and development in the healthcare sector, which has led to the development of new antiviral drugs and therapies.

Underlying macroeconomic factors: The growth of the antiviral drugs market in Ireland is also influenced by broader macroeconomic factors. For example, the Irish economy has been growing steadily in recent years, which has led to increased investment in the healthcare sector. Additionally, the country's membership in the European Union has provided access to a larger market for Irish pharmaceutical companies, which has driven innovation and growth in the sector. Overall, the antiviral drugs market in Ireland is expected to continue to grow in the coming years, driven by demographic factors, technological innovation, and favorable macroeconomic conditions.

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.