Antiviral Drugs - Australia

Australia

In Australia, the Antiviral Drugs market is anticipated to witness a substantial increase in revenue, with projections indicating a reach of €0.38bn in 2024.
This growth is expected to continue steadily, with an annual growth rate (CAGR 2024-2029) of 1.53%.
By 2029, the market volume is estimated to expand to €0.41bn.
When compared globally, it is worth noting that United States is expected to generate the highest revenue, amounting to €28,120.00m in 2024.
Australia's pharmaceutical industry is witnessing a surge in demand for antiviral drugs in response to the current global health crisis.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

Antiviral drugs are medications used to treat viral infections. These drugs are designed to stop the virus from replicating and spreading in the body. In Australia, the Antiviral Drugs market has been developing steadily over the years.

Customer preferences: Customers in Australia are becoming more health-conscious and are taking preventative measures to avoid getting sick. This has led to an increase in demand for antiviral drugs. Additionally, with the outbreak of the COVID-19 pandemic, the demand for antiviral drugs has increased even further.

Trends in the market: One of the trends in the Antiviral Drugs market in Australia is the development of new and more effective drugs. Pharmaceutical companies are investing heavily in research and development to create drugs that are more effective against a wider range of viruses. Another trend is the increasing use of combination therapy, where two or more drugs are used together to treat a viral infection. This approach has been shown to be more effective than using a single drug.

Local special circumstances: Australia has a high incidence of viral infections, such as influenza, hepatitis, and HIV. This has led to a higher demand for antiviral drugs in the country. Additionally, Australia has a large aging population, which is more susceptible to viral infections. This has also contributed to the growth of the Antiviral Drugs market in the country.

Underlying macroeconomic factors: The Australian healthcare system is well-developed and provides universal healthcare coverage to its citizens. This has made it easier for people to access antiviral drugs when they need them. Additionally, the Australian government has been investing heavily in the healthcare sector, which has led to the development of new drugs and treatments. Finally, the Australian economy has been growing steadily over the years, which has led to an increase in disposable income. This has made it easier for people to afford antiviral drugs, which can be expensive.

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.