Antiviral Drugs - Puerto Rico

Puerto Rico

The revenue in the Antiviral Drugs market of Puerto Rico is predicted to reach US$14.50m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 1.41%, leading to a market volume of US$15.55m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue of US$30,640.00m in 2024.
In Puerto Rico, the demand for antiviral drugs has surged due to the high prevalence of viral infections in the region.

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

Market

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Analyst Opinion

The Antiviral Drugs market in Puerto Rico has been experiencing steady growth in recent years.

Customer preferences: Customers in Puerto Rico have been increasingly demanding antiviral drugs due to the high prevalence of viral infections in the country. The COVID-19 pandemic has further increased the demand for these drugs, as people are looking for effective treatments to combat the virus.

Trends in the market: One of the major trends in the Antiviral Drugs market in Puerto Rico is the increasing adoption of generic drugs. This is due to the lower cost of generic drugs compared to branded drugs. Another trend is the development of new antiviral drugs that are more effective and have fewer side effects.

Local special circumstances: Puerto Rico is a US territory and is subject to the same regulations as the mainland US. However, the island has a unique healthcare system that is heavily dependent on government funding. This has led to a situation where many Puerto Ricans do not have access to adequate healthcare, including antiviral drugs.

Underlying macroeconomic factors: The Puerto Rican economy has been struggling in recent years, with high levels of debt and low economic growth. This has led to a situation where many people cannot afford to pay for healthcare, including antiviral drugs. The government has been trying to address this issue by increasing funding for healthcare and promoting the development of the pharmaceutical industry on the island.

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.