Pune, India, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The global antiviral drugs market is set to gain impetus from the improvements in research collaborations of industry giants to develop state-of-the-art therapeutics. Besides, the increasing prevalence of viral diseases would impact the market positively. Fortune Business Insights™ published this information in a recent study, titled, “Antiviral Drugs Market Size, Share & Industry Analysis, By Drug Class (Protease Inhibitors, Polymerase Inhibitors, Integrase Inhibitors, Combination Drugs, Reverse Transcriptase Inhibitors, and Others), By Disease Indication (Hepatitis, Human Immunodeficiency Virus (HIV), Influenza, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Channel) and Regional Forecast, 2019-2026.” The study further mentions that the antiviral drugs market size is projected to reach USD 44.2 billion by 2026, thereby exhibiting a CAGR of 3.2% during the forecast period. However, it stood at USD 36.1 billion in 2018.
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High Demand for Targeted & Specific Treatment Regimen to Boost Growth
One of the most common forms of viral infection that is occurring across the world is HIV. The diagnosis rate of HIV is improving gradually owing to the refinement of surveillance by using biological and demographic data. The World Health Organization (WHO) stated that in the year 2018, approximately 37.9 million people were affected by HIV. However, around 770,000 people died of this disease. It proves that the rising cases of HIV is fueling the demand for specific and targeted treatment regimen. Apart from that, the rising prevalence of influenza and its efficient diagnosis are set to drive the antiviral drugs market growth in the coming years.
Report Scope & Segmentation
|Forecast Period 2021 to 2028 CAGR||3.2%|
|2028 Value Projection||USD 44.2 Billion|
|Market Size in 2018||USD 36.1 Billion|
|Historical Data for||2015 to 2017|
|No. of Pages||130|
|Segments covered||By Drug Class Analysis, By Disease Indication Analysis, By Distribution Channel Analysis.|
|Growth Drivers||Key enterprises present in the market are constantly striving to bring about new treatment options for the patients suffering from viral infections.|
|Gilead Sciences, Inc., a biotechnology company that researches, develops, and commercializes drugs, based in California, announced its submission of a supplemental New Drug Application (sNDA) to the FDA|
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/antiviral-drugs-market-102190
Increasing Outburst of Viral Diseases to Favor Growth in Asia Pacific
Geographically, the market is divided into the Middle East and Africa, North America, Europe, Asia Pacific, and Latin America. Out of these, North America held USD 13.9 billion antiviral drugs market revenue in 2018. This growth is attributable to the presence of various key pharmaceutical companies in the U.S. Coupled with this, green signal by USFDA for the launch of effective and blockbuster therapies, as well as rising incidence of HIV in this country are set to augment growth in North America. Europe is also expected to grow remarkably on account of the presence of favorable reimbursement policies.
Asia Pacific, on the other hand, is anticipated to exhibit a high CAGR during the forthcoming period. This growth is attributable to the frequent outbursts of viral diseases, namely, swine flu, dengue, and Ebola in the emerging economies. Besides, enhanced pharmaceutical industry in countries, such as Japan and India, as well as an established supply network are likely to accelerate growth in this region. In Latin America, the governments of Mexico and Brazil are taking persistent initiatives to manage viral infections. In addition to this, the increasing number of generic pharmaceutical companies present in this region would contribute to the growth.
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Study by FSU Aid in Battling HIV & Hepatitis B; Gilead Submits sNDA Application to FDA
Key enterprises present in the market are constantly striving to bring about new treatment options for the patients suffering from viral infections. They are aiming to gain the maximum antiviral drugs market share by bagging FDA approvals to broaden product portfolio. Educational institutions are also actively participating in conducting studies to discover new drugs. Below are two of the latest industry developments:
- January 2020: The researchers of Florida State University (FSU) are set to open new doors for innovative treatment options for more than 36 million HIV-infected people across the globe. The new treatment options would also help treating the chronically ill patients with hepatitis B. For the first time, their work has established the mechanism accountable for how two antiviral drugs inhibit viruses.
- April 2019: Gilead Sciences, Inc., a biotechnology company that researches, develops, and commercializes drugs, based in California, announced its submission of a supplemental New Drug Application (sNDA) to the FDA. It was done for its emtricitabine 200 mg and tenofovir alafenamide 25 mg tablets called Descovy for pre-exposure prophylaxis (PrEP) to prevent sexually transmitted HIV-1 infection in those who are at risk.
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Fortune Business Insights™ profiles some of the most prominent companies operating in the antiviral drugs market. They are as follows:
- Abbvie, Inc.
- Novartis AG
- Gilead Sciences
- Mylan N.V.
- Merck & Co., Inc.
- Janssen Pharmaceuticals, Inc.
- Bristol-Myers Squibb Company
- Other key market players
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