Antiviral Drugs - Malaysia

Malaysia

In Malaysia, the Antiviral Drugs market is expected to witness a significant increase in revenue, reaching a projected value of MYR US$60.45m by the year 2024.
This growth is anticipated to continue at a steady pace, with an estimated annual growth rate (CAGR 2024-2029) of 2.35%.
As a result, the market volume is predicted to reach MYR US$67.89m by the year 2029.
When compared to the global market, United States is projected to generate the highest revenue in the Antiviral Drugs market, with an impressive value of US$30,640.00m by the year 2024.
The demand for antiviral drugs in Malaysia has significantly increased due to the recent surge in viral infections.

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

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Analyst Opinion

Amidst the global pandemic, the Antiviral Drugs market in Malaysia has been experiencing a surge in demand.

Customer preferences: Antiviral drugs are medications that are used to treat viral infections. With the rise of COVID-19 cases in Malaysia, the demand for antiviral drugs has increased. Customers are more inclined towards antiviral drugs that can treat COVID-19. This has led to a shift in the demand for antiviral drugs in Malaysia.

Trends in the market: The Antiviral Drugs market in Malaysia has been witnessing a trend of increasing demand for COVID-19 antiviral drugs. The market has been growing at a steady pace, with new antiviral drugs being introduced in the market. The market players are focusing on research and development activities to introduce new and advanced antiviral drugs to cater to the rising demand. The market is also witnessing a trend of increasing investments in the research and development of antiviral drugs.

Local special circumstances: The COVID-19 pandemic has had a significant impact on the Antiviral Drugs market in Malaysia. The Malaysian government has taken several measures to control the spread of the virus, including the promotion of antiviral drugs. The government has also provided financial support to the market players to encourage research and development activities. Additionally, the government has also been promoting the use of traditional medicines, which has impacted the demand for antiviral drugs.

Underlying macroeconomic factors: The Antiviral Drugs market in Malaysia is influenced by several macroeconomic factors. The increasing prevalence of viral infections, including COVID-19, is one of the primary factors driving the market growth. The rising healthcare expenditure and increasing investments in the healthcare sector are also contributing to the growth of the market. The growing geriatric population and the increasing awareness about the benefits of antiviral drugs are also driving the market growth in Malaysia.In conclusion, the Antiviral Drugs market in Malaysia is witnessing a surge in demand due to the COVID-19 pandemic. The market is growing at a steady pace, with new antiviral drugs being introduced in the market. The market players are focusing on research and development activities to introduce new and advanced antiviral drugs to cater to the rising demand. The market is also witnessing a trend of increasing investments in the research and development of antiviral drugs. The Malaysian government has taken several measures to control the spread of the virus, including the promotion of antiviral drugs. The increasing prevalence of viral infections, rising healthcare expenditure, growing geriatric population, and increasing awareness about the benefits of antiviral drugs are some of the underlying macroeconomic factors driving the market growth in Malaysia.

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.