Antiviral Drugs Market worth over $44.5 bn by 2027

Antiviral Drugs Market size is set to surpass USD 44.5 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

Increasing investment in drug development will boost the market growth. Growing burden of sexually transmitted diseases has created need for cost effective antiviral therapies. Several governments are undertaking initiatives to increase awareness about treatment related to HIV AIDS, thereby offering accessibility to majority of patients.

 

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Emergence of COVID-19 will enhance antiviral development

Incidence of COVID-19 outbreak has affected millions of people across the globe, leading to increasing hospital admissions, thereby providing lucrative demand for antiviral drugs. About 181 clinical trials have been performed to investigate curative treatment for COVID-19. Firms are collaborating with research institutes to develop antivirals. Furthermore, growing government spending will further stimulate drug manufacturing and development in the upcoming years.
 

Advancements in antiretroviral drugs will influence the market demand

Protease inhibitors segment held around 18% of the antiviral drugs market share in 2020. Protease inhibitors are considered as most important in highly active antiretroviral therapy for HIV treatment. The development of efficient and safe protease inhibitors-based drugs with less side effects has shown promising results to reduce growing HIV burden that will accelerate its demand during the forecast period.
 

Browse key industry insights spread across 200 pages with 160 market data tables & 15 figures & charts from the report, Antiviral Drugs Market Size By Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors), By Indication (Influenza, HIV, Hepatitis, herpes Simplex Virus {HSV}, Coronavirus Infection), By Type (Branded, Generic), By Age Group (Adult, Pediatric, Geriatric), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/antiviral-drugs-market
 

Rise in number of hepatitis infections will gradually propel the market revenue

Hepatitis indication segment is anticipated to witness -4.1% growth rate till 2027. As per the Hepatitis B Foundation, approximately 2 billion people are affected with Hepatitis B virus worldwide. Rise in number of patients with Hepatitis virus will drive drug development activities in the upcoming period and thereby contribute to the segment growth. However, declining cost of therapy will also impact revenue size.
 

Increasing use of generic drugs coupled with improvement in clinical outcome will positively fuel the antiviral drugs market expansion

Generic drugs segment is projected to reach USD 12 billion by 2027 led by its low cost and high usage. Moreover, generic drugs can meet the same strength, quality, and purity standard as branded drugs.
 

Growing risk of viral infections in pediatric population will impel the market value

Pediatric segment accounted for 22% of the market share in 2020. Pediatric population is prone to infections due to low immunity. Hence, incidence of viral infections among children will provide immense growth potential to the segment during forecast timeline.
 

Rising incidence of COVID-19 will provide escalating demand for antivirals in the European region

Europe antiviral drugs market held more than 20% of revenue share in 2020 owing to significant prevalence of COVID-19. Increasing patients suffering through COVID-19 in the region has led to rising demand for antiviral drugs. Companies are focusing to meet the demand for antiviral drugs to cure COVID-19. In addition, speedy FDA approval and favorable vaccination criteria will also augment the regional demand. For instance, in January 2021, European Medicines Agency and European Commission organized a joint purchasing Programme to provide doses for member states. Such initiatives will spur the market potential.
 

Strategic initiatives by prominent industry players will increase the market growth potential

Some of the notable companies operating in the market include Gilead Sciences, GlaxoSmithKline plc, Johnson & Johnson, AstraZeneca, AbbVie and Merck & Co. Inc. These business leaders primarily focus on strategic alliances such as acquisitions & mergers, partnerships & collaborations, strategic agreements and novel product launches to broaden their product portfolio and capitalize on market opportunities.
 

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