Antiviral Drugs - Philippines | Statista Market Forecast

The Philippines, being a significant player in the global market of Antiviral Drugs market, is projected to witness a remarkable revenue growth.
In 2024, the revenue is estimated to reach US$62.61m.
Moreover, it is expected to exhibit a promising annual growth rate (CAGR 2024-2029) of 2.89%, leading to a market volume of US$72.21m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue in the Antiviral Drugs market, reaching a staggering US$30.64bn in 2024.
The Philippines is experiencing a surge in demand for antiviral drugs as the country grapples with the increasing number of viral outbreaks.

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

Antiviral drugs have become increasingly important in the healthcare industry due to the rise of viral infections and outbreaks. The Philippines is one of the countries that have experienced a significant development in the antiviral drugs market.

Customer preferences: The demand for antiviral drugs in the Philippines has increased due to the rising cases of viral infections such as dengue fever, influenza, and COVID-19. Customers are more aware of the importance of antiviral drugs in preventing and treating viral infections.

Trends in the market: The antiviral drugs market in the Philippines has experienced a significant growth due to the increasing demand for antiviral drugs. There has been a rise in the production and distribution of antiviral drugs in the country, which has made them more accessible to the public. Additionally, there has been a shift towards the development of innovative antiviral drugs that are more effective in treating viral infections.

Local special circumstances: The Philippines is an archipelago with over 7,000 islands, which makes it difficult to distribute drugs to remote areas. However, the government has implemented programs to improve the distribution of drugs to these areas. Additionally, the country has a high incidence of viral infections due to its tropical climate, which has led to the development of antiviral drugs that are specific to the region.

Underlying macroeconomic factors: The Philippines has a growing economy, which has led to an increase in healthcare spending. The government has also implemented policies to improve access to healthcare services, which has contributed to the growth of the antiviral drugs market. Additionally, the country has a large population, which has led to a higher demand for healthcare services and drugs.

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 global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.