Antiviral Drugs - Madagascar

Madagascar

The revenue forecast for the Antiviral Drugs market in Madagascar indicates a projected increase to US$2.27m by 2024.
Furthermore, it is expected that the market will exhibit an annual growth rate of 2.59% (CAGR 2024-2029), leading to a market volume of US$2.58m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue in this market, with a projected value of US$30,640.00m in 2024.
Madagascar is witnessing a surge in demand for antiviral drugs, as the country grapples with an increasing number of viral outbreaks.

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

Market

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Currency

Analyst Opinion

The demand for Antiviral Drugs in Madagascar has been on the rise in recent years.

Customer preferences: Madagascar has a high prevalence of infectious diseases, including viral infections such as HIV, hepatitis B and C, and influenza. As a result, there is a high demand for antiviral drugs in the country. Additionally, the COVID-19 pandemic has further increased the demand for antiviral drugs.

Trends in the market: The Antiviral Drugs market in Madagascar has been growing steadily over the past few years. This growth is primarily driven by the increasing prevalence of viral infections in the country. The market is dominated by generic drugs, which are more affordable than branded drugs. However, there is also a growing demand for branded drugs, particularly among the middle and upper classes.

Local special circumstances: Madagascar is a low-income country with a weak healthcare system. The majority of the population does not have access to proper healthcare facilities or medication. This has led to a thriving black market for drugs, including antiviral drugs. The government has been making efforts to crack down on the black market, but it remains a significant challenge.

Underlying macroeconomic factors: Madagascar is one of the poorest countries in the world, with a GDP per capita of less than $500. The country is heavily dependent on foreign aid, and the economy is largely driven by agriculture. The healthcare system is severely underfunded, and there is a shortage of trained healthcare professionals. These factors have contributed to the high prevalence of infectious diseases in the country and the growing demand for 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.