Antiviral Drugs - Kenya

Kenya

in Kenya, a country in East Africa, is expected to see significant growth in the Antiviral Drugs market.
According to projections, the revenue in this market is set to reach US$20.34m by 2024.
Furthermore, a steady annual growth rate of -0.12% (CAGR 2024-2028) is anticipated, which will result in a market volume of US$20.24m by 2028.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in this market, with a staggering US$32,110.00m in 2024.
In Kenya, there is a growing demand for locally produced antiviral drugs as the government aims to strengthen the country's healthcare system.

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

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Analyst Opinion

The demand for Antiviral Drugs in Kenya has been on the rise in recent years due to several factors.

Customer preferences: Customers in Kenya have become more aware of the importance of preventive healthcare measures, especially in the wake of the COVID-19 pandemic. This has led to an increased demand for antiviral drugs, as people seek to protect themselves from viral infections.

Trends in the market: One of the major trends in the Antiviral Drugs market in Kenya is the increasing availability of generic drugs. Generic drugs are cheaper alternatives to branded drugs, and this has made them more accessible to the general population. Another trend is the growing popularity of herbal remedies, which are seen as a natural and safe alternative to conventional drugs.

Local special circumstances: Kenya has a high burden of infectious diseases, including HIV/AIDS, malaria, and tuberculosis. This has led to a greater need for antiviral drugs, as these diseases can be effectively managed with the right medication. Additionally, the country has a large population of people living with HIV/AIDS, and antiviral drugs are a crucial component of their treatment regimen.

Underlying macroeconomic factors: The Kenyan economy has been growing steadily in recent years, and this has led to an increase in disposable income. As a result, more people are able to afford healthcare services, including antiviral drugs. Additionally, the government has been investing in healthcare infrastructure and services, which has improved access to medication across the country. However, the high cost of research and development for new drugs means that some newer antiviral drugs may not be affordable for many Kenyans.

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.