Antiviral Drugs - Latvia

Latvia

The revenue in Latvia's Antiviral Drugs market is forecasted to reach US$12.11m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 2.36%, leading to a market volume of US$13.61m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$30,640.00m in 2024.
Latvia's antiviral drug market is witnessing a surge in demand due to the country's proactive approach in managing infectious diseases.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Latvia, a small country in the Baltic region, has been experiencing a steady growth in the Antiviral Drugs market in recent years.

Customer preferences: The Latvian market for Antiviral Drugs is mainly driven by the rising prevalence of viral infections such as hepatitis, HIV, and influenza. The demand for antiviral drugs is also influenced by the increasing awareness of the benefits of early diagnosis and treatment of viral infections.

Trends in the market: The Antiviral Drugs market in Latvia has been witnessing a shift towards more innovative treatments, including combination therapies and nucleoside analogues. The market is also seeing an increase in the availability of generic antiviral drugs, which are more affordable and accessible to patients.

Local special circumstances: Latvia has a well-developed healthcare system that provides universal access to healthcare services, including antiviral drugs. The country's healthcare system is also supported by the government, which has been investing in the development of healthcare infrastructure and the training of healthcare professionals.

Underlying macroeconomic factors: Latvia's economy has been growing steadily in recent years, with a focus on developing the healthcare sector and attracting foreign investment. The country's membership in the European Union has also facilitated the import and export of pharmaceutical products, including antiviral drugs. However, the country's small market size and limited purchasing power may pose challenges for the growth of the Antiviral Drugs market in the future.

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.