Antiviral Drugs Market is presently valued at USD 35.65 billion and is anticipated to register a CAGR of 5.15% over the forecast duration 2022-2030, thereby accumulating USD 55.17 billion by the end of the analysis timeline.
Antiviral Drugs Market :Introduction
Antiviral drugs belong to the class of medicines used to treat viral infections, such as HIV, hepatitis, herpes and influenza. Generally, these antiviral drugs are administered in the form of vaccines, and otherwise, they can also be given in the form of tablets, powders, and capsules. Furthermore, most of these drugs are effective against specific viral infections, whereas few are resistant to a broad range of spectrum of viruses.
The global Antiviral Market is accelerated by a rise in the rate of viral infections. Additionally, the market is anticipated to show significant growth due to increased R&D activities and the progression of newer and advanced formulations, such as vaccines and combination therapy.
Global Antiviral Drug Market Forecast:
The Global Antiviral Drug Market size was at USD 37.26 Billion in 2020, and it is predicted that it will reach a valuation of USD 51.05 Billion by the end of 2030 with an annual development rate (CAGR) of 3.2% between 2022 and 2030.
Global Antiviral Drug Market: Key Trends
Growing prevalence of HIV and Influenza to boost Growth of Market
HIV is being emerged as the most common form of viral infection across the globe. Advanced investigation for HIV by using demographic and biological data has shown the improvement in the diagnosis rate of the disease. As per WHO, in 2018, about 37.9 million people were infected with HIV globally, and 770,000 people died due to this disease. Therefore, the rising burden of this infection has been bolstering the demand for targeted and specific treatment regimens, therebyaccelerating the Antiviral Drug Market growth.
Furthermore, the increasing incidence rate of influenza and its rapid diagnosis has contributed to the high demand for Antiviral therapeutics across the world.
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Introduction of Blockbuster Therapeutics to Accelerate the Global Market
Various major key players and pharmaceutical giants have been actively investing in the research and development of antiviral agents. The Pharmaceutical giants Gilead Science and GlaxoSmithKline have launched the blockbuster drug, named as Biktarvy and Triumeq, respectively, which has changed the face of antiretroviral therapy.
The global antivirus market has registered substantial growth during 2019-2026. This growth is attributed to the increasing uptake of such blockbuster agents and their advanced distribution by the manufacturers. In February 2018, Biktarvy received approval, and it has been targeting the population that are living with HIV worldwide. Out of those, around 231 million people have been receiving antiretroviral therapy to boost their immune systems.
Global Antiviral Drug Market: Regional Analysis
North America dominated the global antiviral market and accounted for the largest global revenue share of USD 13.9 billion in 2018. This dominance is attributed to the strategic presence of the key market players in the U.S. and the surging prevalence of infections such as HIV in the country. The approvals granted by USFDA for the launching of blockbuster and effective therapies in North America is also a driving factor for the regional market expansion.
Europe is anticipated to witness significant growth in the forthcoming years. This development is credited to the favourable reimbursement policies for antiviral therapy and the involvement of the key players in the R&D of antiviral medication for HIV.
The Asia Pacific is anticipated to witness significant growth in CAGR over the forthcoming years. This notable progression is credited to the establishment of the supply network, advanced pharmaceutical industry in countries such as Japan and India, and frequent eruption of viral diseases, such as dengue, swine flu and Ebola in the developing countries.
Latin America’s antiviral medication market has amplified notably over the estimated timeline. This development can be ascribed to the rising penetration of generic pharmaceutical companies in the market and the participation of the government in the management of viral infection in Mexico & Brazil.
Antiviral Drugs Market- Key Trends
Outbreak of the COVID 19 pandemic is adding traction to market progression:
The emergence of the ongoing COVID 19 pandemic increased the demand for antiviral drugs worldwide. Coronavirus, being a viral disease needs to be treated with a strong and effective antiviral. Medicines like oseltamir, favipiravir, and remdesivir are highly prescribed for treating COVID-19.
Although a more effective medication against this viral disease is yet to be developed and several government and private entities are putting their efforts to get a breakthrough in formulating a highly effective antiviral against the novel disease. This in turn is augmenting the overall industry outlook.
Growing need to reduce global burden of infectious diseases will foster industry growth:
Viral infections are regarded as one of the major illnesses affecting millions of lives worldwide. There has been a rapid increase in the prevalence of diseases such as HIV, AIDS, hepatitis, and herpes. As per the Joint United Nations Programme on HIV and AIDS, nearly 25.4 million people infected with HIV were taking antiretroval therapy as of 2019 and the number is expected to increase in the coming years.
Research institutes and biopharmaceutical companies have increased their focus on developing antivirals, which in turn is fueling industry expansion.
The Key Market Segmentation of the Global Antiviral Drug Market:
Global Antiviral Drug Market can be divided into Drug Class, Type, Applications, Distribution Channel and Geographical landscapes, etc.
Antiviral Drug Market Segmentation By Type:
Antiviral Drug Market Segmentation By Applications:
Antiviral Drug Market Segmentation By Distribution Channel:
Antiviral Drug Market Segmentation By Geographical Landscape:
Major Key Players in the Global Antiviral Drug Market Are:
The Covid-19 Impact Analysis:
The sudden outbreak of the covid-19 pandemic has made a positive impact on the global antiviral drug market dynamics. This growth could be attributed to the increasing focus of the key players on developing a treatment for COVID-19.
For instance, in 2020, Cipla and Gilead Science collaborated to develop and commercialize a new medicine, which would be used for the treatment of COVID-19. These development and research processes accelerated the market and is anticipated to do the same over the forthcoming years.
On the flip side, , the COVID-19 pandemic had also negatively affected the global market due to forced stringent lockdown in the various countries. The global supply chains were disrupted due to the shutdown of various factories and plants.
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Nov 03, 2022
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