Antiviral Drugs Treatment Market To Develop Stunningly And Reach About USD 75.33 Billion By 2027 – ZMR
As per the report, the global antiviral drugs treatment market is projected to reach a value of about USD 75.33 billion by 2027 from around USD 52.21 billion in 2019, growing at around 4.69% CAGR between 2020 and 2027.
Antiviral drugs belong to to the class of drugs that have been utilized for treating viral infections comprising measles, HIV, influenza, and hepatitis. Generally, such drugs are administered in the form of vaccines. In addition, a majority of these drugs are utilized for ordinary viral infections, whereas few other (full-spectrum antiviral drugs) work against a broad array of viruses.
The key factors contributing to the growth of the global antiviral drugs treatment market include the rising incidence of viral infections like hepatitis, HIV, influenza, and respiratory syncytial virus (RSV). Further, the novel coronavirus pandemic is projected to fuel the market growth during the coming period. As there are no potential treatments or vaccines for Covid19 at present, firms are attempting to repurpose prevailing medications in the battle against the novel coronavirus. The constant dispersion of coronavirus increased the use of antiviral drugs such as ribavirin, Interferon Alfa, and lopinavir globally. Out of these, ribavirin’s usage has elevated considerably in the recent times.
Thus, the use of specific prevailing antiviral drugs for treating Covid-19 is anticipated to boost the growth of the global antiviral drugs treatment market during the forecast period. In addition, the rising public-private aid for life science research across the world is projected to surge the expansion of global antiviral drug treatment market. Few other factors boosting the demand for antivirals include the rise in healthcare infrastructure expenditure in developed countries as well as developing countries, a rise in public awareness, and the increasing incidence of life-threatening viral diseases.
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The global antiviral drugs treatment market is bifurcated on the basis of application, type, drug class, and region. The market, on the basis of drug class, is divided into reverse transcriptase inhibitors, DNA polymerase inhibitors, neuraminidase inhibitors, protease inhibitors, and others. Among these, in 2019, the highest market share was held by reverse transcriptase inhibitors segment and is anticipated to growth at rapid pace during the forecast period owing to their effectiveness in preventing or slowing down viral infection. The reverse transcriptase inhibitors segment is further sub-divided into non-nucleoside reverse transcriptase inhibitors (NNRTIs) and nucleoside reverse transcriptase inhibitors (NRTIs).
The global antiviral drugs treatment market, on the basis of type, is classified into generic and branded. Among these, the market was governed by the branded segment due to the global faith that branded drugs are safer to consume in comparison to generic medicines. Though, during the forecast period, the generic segment is expected to witness substantial growth owing to the rising implementation in developing nations and patent expiry of numerous branded products. The market, on the basis of application, is categorized into hepatitis, HIV, influenza, herpes, and others.
Regionally, in 2019, the global antiviral drugs treatment market was ruled by North America owing to the existence of major players in this region, rising alertness of viral diseases, and accessibility of advanced healthcare infrastructure. Further, Asia Pacific market is also projected witness substantial growth owing to the rising patient pool, the existence of a well-built & established generic drug market, and enhancing the economic stability. Further, the Asia Pacific market is also expected to observe growth opportunities during the coming period on account of the rising alertness about HIV infection and the growing partnership between private & public sectors.
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The major players active within the global antiviral drugs treatment market consist of F. Hoffmann-La Roche AG; Gilead Sciences; AbbVie; GlaxoSmithKline plc; Johnson & Johnson Services, Inc.; Merck & Co., Inc.; Cipla Inc.; Bristol-Myers Squibb Company; Dr. Reddys Laboratories Ltd. & Co., Inc; and Aurobindo Pharma, among others.
- CDN Newswire