Antiviral Drugs - Jamaica | Statista Market Forecast

The Antiviral Drugs market in Jamaica is projected to witness a revenue of US$3.68m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.31%, ultimately leading to a market volume of US$3.93m by 2029.
When compared globally, United States will generate the highest revenue, amounting to US$30.64bn in 2024.
Jamaica's increasing demand for antiviral drugs is driven by the rise in viral infections and the government's efforts to improve healthcare accessibility.

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 Jamaica has been experiencing steady growth in recent years.

Customer preferences: Customers in Jamaica are increasingly demanding antiviral drugs due to the high prevalence of viral infections in the country. The rise in demand is also due to the growing awareness of the effectiveness of antiviral drugs in treating viral infections.

Trends in the market: The trend in the Antiviral Drugs market in Jamaica is towards the development of new drugs that are more effective in treating viral infections. There is also a growing trend towards the use of combination therapies that involve the use of more than one antiviral drug to treat viral infections.

Local special circumstances: Jamaica has a high prevalence of viral infections such as HIV, hepatitis B and C, and influenza. The high prevalence of these infections has led to an increase in demand for antiviral drugs in the country. The Jamaican government has also been actively involved in promoting the use of antiviral drugs to combat the spread of these infections.

Underlying macroeconomic factors: The Jamaican economy has been growing steadily in recent years, which has led to an increase in disposable income among the population. This increase in disposable income has led to an increase in demand for healthcare services, including antiviral drugs. The Jamaican government has also been investing heavily in the healthcare sector, which has led to an increase in the availability of antiviral drugs in the country.

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 pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.48 trillion U.S. dollars in 2022.