Antiviral Drugs - Western Africa

Western Africa

The projected revenue for Western Africa in the Antiviral Drugs market is estimated to reach US$99.69m in 2024.
It is expected to experience an annual growth rate of 3.27% between 2024 and 2029, leading to a market volume of US$117.10m by 2029.
In comparison to other countries worldwide, United States is projected to generate the highest revenue of US$30,640.00m in 2024.
Western Africa is experiencing a surge in demand for antiviral drugs as the region battles various infectious diseases.

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

Market

Region

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Analyst Opinion

The demand for antiviral drugs in Western Africa has been steadily increasing over the past few years.

Customer preferences: One of the main reasons for this growth is the rising prevalence of viral diseases in the region. Diseases such as HIV, hepatitis, and Ebola have been a major concern for health authorities in Western Africa, leading to an increase in demand for antiviral drugs. Additionally, the COVID-19 pandemic has further highlighted the importance of antiviral drugs in the region.

Trends in the market: The antiviral drugs market in Western Africa is dominated by a few major players, but there has been a recent trend of smaller local companies entering the market. These companies are able to provide more affordable options for patients, which has been a major factor in driving demand for antiviral drugs. Another trend in the market is the increasing use of generic drugs, which has also contributed to the growth of the market.

Local special circumstances: Western Africa has a unique set of circumstances that have contributed to the growth of the antiviral drugs market. The region has a high prevalence of viral diseases, which has led to increased demand for antiviral drugs. However, the region also faces challenges such as limited healthcare infrastructure and a lack of access to healthcare services in some areas. This has made it difficult for some patients to access the antiviral drugs they need.

Underlying macroeconomic factors: The economic growth of Western Africa has also played a role in the growth of the antiviral drugs market. As the region continues to develop, there has been an increase in healthcare spending and investment in healthcare infrastructure. This has led to increased access to healthcare services and a greater demand for antiviral drugs. Additionally, the region has a large and growing population, which has also contributed to the growth of the market.

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.