Antiviral Drugs - Iceland

Iceland

The Antiviral Drugs market in Iceland is anticipated to witness a substantial growth in revenue, with projections indicating a reach of US$10.04m in 2024.
Furthermore, it is expected that this market will experience a steady annual growth rate (CAGR 2024-2028) of 1.10%, leading to a market volume of US$10.49m by 2028.
When compared globally, United States is predicted to generate the highest revenue, with an estimated value of US$32,110.00m in 2024.
Iceland's pharmaceutical industry is experiencing a surge in demand for antiviral drugs due to the country's proactive approach towards public health and disease prevention.

Key regions: France, Brazil, South Korea, India, China

Market

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Analyst Opinion

Antiviral drugs have been in high demand globally since the outbreak of the COVID-19 pandemic. Iceland, a country with a population of approximately 364,000, has also seen an increased demand for antiviral drugs.

Customer preferences: The customers in Iceland prefer antiviral drugs that are effective against a wide range of viruses. They also prefer drugs that have minimal side effects and are affordable.

Trends in the market: The antiviral drugs market in Iceland has been growing steadily due to the increased demand for antiviral drugs. The market has seen an increase in the number of antiviral drugs available in the market. This increase in the number of drugs has resulted in increased competition among drug manufacturers, leading to a decrease in drug prices.

Local special circumstances: Iceland has a well-developed healthcare system that provides universal healthcare to all its citizens. The healthcare system is funded through taxes, and citizens are required to pay a small fee for medical services. This means that the cost of antiviral drugs is covered by the healthcare system, making it affordable for all citizens.

Underlying macroeconomic factors: The Icelandic economy has been growing steadily in recent years, with a focus on tourism and fishing industries. The government has also invested in research and development, leading to the growth of the pharmaceutical industry. This growth has led to an increase in the production of antiviral drugs in the country. In conclusion, the antiviral drugs market in Iceland has been growing steadily, driven by the increased demand for antiviral drugs and the growth of the pharmaceutical industry. The customers in Iceland prefer drugs that are effective, affordable, and have minimal side effects. The well-developed healthcare system in Iceland ensures that the cost of antiviral drugs is covered, making it affordable for all citizens.

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.