Key regions: Brazil, India, Australia, United States, United Kingdom
The demand for antiviral drugs in Western Asia has been growing steadily over the past few years.
Customer preferences: Customers in Western Asia are increasingly prioritizing their health and are willing to invest in medication that can help them combat viral infections. This is particularly true in countries with high rates of infectious diseases such as Saudi Arabia and Iran. Additionally, with the ongoing COVID-19 pandemic, there has been a surge in demand for antiviral drugs across the region.
Trends in the market: One of the major trends in the antiviral drugs market in Western Asia is the increasing popularity of generic drugs. With rising healthcare costs, customers are looking for more affordable options and generic drugs offer a cheaper alternative to branded drugs. This trend is particularly prevalent in countries such as Turkey and Iran, where the government has implemented policies to promote the use of generic drugs.Another trend in the market is the growing focus on research and development. Major pharmaceutical companies are investing heavily in R&D to develop new and more effective antiviral drugs. This trend is particularly evident in countries such as Israel and the United Arab Emirates, which have a strong pharmaceutical industry and are home to several research institutions.
Local special circumstances: The antiviral drugs market in Western Asia is characterized by a number of local special circumstances. For example, in Saudi Arabia, the government has implemented a number of initiatives to promote the use of locally produced drugs. This has led to an increase in the production of antiviral drugs in the country and has helped to boost the local pharmaceutical industry.In Iran, the government has implemented a national health insurance scheme that provides coverage for a wide range of medications, including antiviral drugs. This has helped to increase access to medication for the general population and has contributed to the growth of the antiviral drugs market in the country.
Underlying macroeconomic factors: Several underlying macroeconomic factors are driving the growth of the antiviral drugs market in Western Asia. These include the increasing prevalence of viral infections, rising healthcare costs, and the growing focus on research and development.In addition, the ongoing COVID-19 pandemic has had a significant impact on the market. The pandemic has led to an increase in demand for antiviral drugs, as well as other medications and medical supplies. This has created opportunities for pharmaceutical companies to expand their operations in the region and has contributed to the overall growth of the market.
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.
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