Antiviral Drugs - Montenegro

Montenegro

In Montenegro, the revenue in the Antiviral Drugs market is expected to reach US$1.84m by 2024.
It is projected to demonstrate an annual growth rate (CAGR 2024-2029) of 1.88%, leading to a market volume of US$2.02m by 2029.
When compared to other countries worldwide, United States will generate the highest revenue, amounting to US$30,640.00m in 2024.
Montenegro's growing pharmaceutical industry is experiencing a rising demand for locally-produced antiviral drugs.

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

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Analyst Opinion

The Antiviral Drugs market in Montenegro has been steadily growing in recent years.

Customer preferences: Antiviral drugs are used to treat viral infections and are highly sought after by individuals who have contracted such infections. The market for antiviral drugs in Montenegro is driven by an increasing prevalence of viral infections such as influenza, hepatitis, and HIV among the population.

Trends in the market: The market for antiviral drugs in Montenegro is expected to continue to grow in the coming years due to an increasing number of people being diagnosed with viral infections. Additionally, there has been an increase in the use of antiviral drugs for the treatment of chronic viral infections, which is also expected to contribute to market growth.

Local special circumstances: Montenegro has a relatively small population, which means that the market for antiviral drugs is also relatively small. However, there is a growing awareness among the population about the importance of treating viral infections with antiviral drugs, which is expected to contribute to market growth in the future.

Underlying macroeconomic factors: Montenegro has a developing economy, which means that there is a growing middle class that has more disposable income to spend on healthcare. This is expected to contribute to market growth as individuals are more likely to seek treatment for viral infections. Additionally, Montenegro is a popular tourist destination, which means that there is a risk of viral infections being brought into the country by tourists. This is also expected to contribute to market growth as there will be a need for antiviral drugs to treat these infections.

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.