Antiviral Drugs - Singapore | Statista Market Forecast

The Antiviral Drugs market in Singapore is projected to achieve a revenue of US$70.23m by the year 2024.
It is expected that the revenue will experience an annual growth rate of 2.85% from 2024 to 2029, leading to a market volume of US$80.83m by 2029.
When compared to other countries on a global scale, United States is anticipated to generate the highest revenue in the Antiviral Drugs market, amounting to US$30.64bn in 2024.
Singapore's robust healthcare system has driven a surge in demand for antiviral drugs, with local pharmaceutical companies ramping up production to meet the needs of the population.

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

The demand for Antiviral Drugs in Singapore has been on the rise in recent years due to various factors.

Customer preferences: Singaporean customers are becoming more health-conscious and are willing to invest in antiviral drugs to protect themselves against viral infections. Additionally, the COVID-19 pandemic has led to a surge in demand for antiviral drugs, as people are more aware of the importance of protecting themselves against viral infections.

Trends in the market: The Antiviral Drugs market in Singapore is expected to continue growing due to the increasing prevalence of viral infections. The market is also expected to be driven by the development of new and more effective antiviral drugs. Furthermore, the increasing availability of antiviral drugs through online channels is expected to boost the market growth.

Local special circumstances: Singapore has a well-developed healthcare system, which has facilitated the growth of the Antiviral Drugs market. The government has also taken steps to encourage the development of new drugs and to improve access to healthcare services.

Underlying macroeconomic factors: Singapore has a strong economy and a high standard of living. This has enabled people to invest in their health and well-being, which has contributed to the growth of the Antiviral Drugs market. Additionally, Singapore's strategic location and well-developed infrastructure have made it an attractive market for pharmaceutical companies to invest in.

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.