Antiviral Drugs - Taiwan | Statista Market Forecast

In 2024, the projected revenue in the Antiviral Drugs market in Taiwan is expected to reach US$156.00m.
Looking ahead, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 1.62%.
This growth trajectory will ultimately lead to a market volume of US$169.10m by 2029.
When considering the global landscape, it is noteworthy that United States is expected to generate the highest revenue in the Antiviral Drugs market.
In 2024, the projected revenue for the United States stands at US$30.64bn.
Taiwan is becoming a leading producer of antiviral drugs, leveraging its advanced pharmaceutical industry and research capabilities.

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 Antiviral Drugs market in Taiwan has seen significant growth in recent years due to various factors.

Customer preferences: Customers in Taiwan are increasingly concerned about their health and well-being, leading to a higher demand for antiviral drugs. Additionally, the aging population in Taiwan has contributed to the growth of the market, as older individuals are more susceptible to viral infections.

Trends in the market: One trend in the Antiviral Drugs market in Taiwan is the increasing focus on research and development of new drugs. This has resulted in the introduction of new and more effective antiviral drugs to the market. Additionally, there has been a shift towards more personalized medicine, with drugs tailored to specific viruses or patient populations.

Local special circumstances: Taiwan has a well-established healthcare system, with universal health coverage for its citizens. This has led to a higher demand for antiviral drugs, as they are readily accessible to the population. Additionally, Taiwan has experienced several outbreaks of viral diseases in recent years, such as dengue fever and H1N1 influenza, which has further increased the demand for antiviral drugs.

Underlying macroeconomic factors: Taiwan's economy has been growing steadily in recent years, which has led to an increase in disposable income for its citizens. This has resulted in a higher demand for healthcare products, including antiviral drugs. Additionally, Taiwan's proximity to China, which has a large population and has experienced several viral outbreaks in recent years, has contributed to the growth of the Antiviral Drugs market in Taiwan.

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.