Antiviral Drugs - South Korea

South Korea

The revenue in the Antiviral Drugs market in South Korea is predicted to reach €0.49bn by the year 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 2.34%, leading to a market volume of €0.55bn by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to €28,420.00m in 2024.
The South Korean market for antiviral drugs is experiencing significant growth due to the country's proactive approach towards healthcare and advanced research capabilities.

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

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Analyst Opinion

The demand for Antiviral Drugs in South Korea has been on the rise in recent years, driven by various factors such as the increasing prevalence of viral infections and the growing awareness of the importance of preventive healthcare.

Customer preferences: South Korean customers are increasingly seeking out antiviral drugs that are effective, safe, and affordable. They are also looking for drugs that are easy to administer and have minimal side effects. As a result, there is a growing demand for antiviral drugs that are available in different forms such as tablets, capsules, and injections.

Trends in the market: One of the key trends in the South Korean Antiviral Drugs market is the increasing demand for drugs that can treat viral infections such as influenza, hepatitis B, and HIV. This is due to the rising incidence of these infections in the country, as well as the growing awareness of the importance of early detection and treatment.Another trend in the market is the increasing popularity of generic antiviral drugs. This is driven by the fact that generic drugs are often more affordable than their branded counterparts, and are equally effective in treating viral infections. In addition, the South Korean government has been actively promoting the use of generic drugs as part of its efforts to reduce healthcare costs.

Local special circumstances: South Korea has a well-developed healthcare system, with a strong emphasis on preventive healthcare. The country has a universal healthcare system that covers all citizens, and the government has been actively promoting the use of preventive healthcare services such as vaccinations and health screenings.

Underlying macroeconomic factors: The South Korean economy has been growing steadily in recent years, driven by strong exports and domestic consumption. This has led to an increase in healthcare spending, as more people are able to afford healthcare services and treatments. In addition, the South Korean government has been investing heavily in healthcare infrastructure and research and development, which has helped to drive innovation and growth in the Antiviral Drugs 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.