The antiviral drugs market comprises drugs that inhibit the development and spread of viruses in the human body. Antiviral drugs help treat infections caused by viruses such as HIV, hepatitis, influenza, herpes, and others by either inhibiting viral replication or increasing the ability of the immune system to fight against viruses. The rising prevalence of viral infections such as hepatitis, influenza, and HIV across the globe has been a key factor fueling the demand for effective antiviral drugs.
The Global Antiviral Drugs Market is estimated to be valued at US$ 70646.07 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2030.
Key Takeaways:
Key players operating in the Antiviral Drugs Market Size include CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc. These players are focusing on expanding their product portfolios by developing new and innovative antiviral drugs to treat a wide range of viral infections. For instance, in 2023, CogniFit launched a new antiviral drug to treat influenza and hepatitis infections.
The market provides several opportunities for drug manufacturers including developing antiviral drugs for untreated viral infections, combinations therapies, and drugs targeting latent viral infections. The growing research on virology is expected to help discover new viruses and treatment options. Further, rising healthcare investments in developing countries are creating opportunities for market players for global expansion.
The global expansion of key players through partnerships, mergers, and acquisitions is also expected to support the growth of the antiviral drugs market during the forecast period. For example, in 2022, Peak acquired a German pharmaceutical company to expand its presence in the European antiviral drugs market.
Market drivers: The rising prevalence of viral infections due to growing pollution levels, changing lifestyles and climate change has increased the demand for antiviral drugs globally. As per recent studies, the prevalence of viral diseases like hepatitis, influenza and HIV has increased by over 30% in the last five years, driving the need for effective treatment options.
Market restraints: Developing new antiviral drugs is a long and complex process which requires huge investments and clinical trials. Further, the rapid mutations of viruses necessitate continuous updation of existing antiviral drugs, placing extra research and development burden on drug makers. The high costs associated with drug development and regulatory approvals pose challenges for market players.
Segment Analysis
Antiviral drugs are diverse and can be segmented based on medicine type, disease, mechanism of action and regional availability. Retrovir virus is dominating the anti-viral drugs sub segment as they are used to treat chronic health conditions such as HIV and hepatitis. Drugs that treat retroviruses specifically target retroviral life cycle and block viral replication, hence forming the largest revenue stream within anti-viral drugs segment.
Globally, North America has emerged as the dominant region in the anti-viral drugs market owing to growing prevalence of viral illnesses, robust healthcare infrastructure and presence of major players. The United States holds majority market share in the region and witnesses high demand for anti-retroviral and hepatitis drugs. Favorable reimbursement guidelines have further propelled the market growth in the region. In Europe, the market is primarily driven by increasing public healthcare spending and development of novel anti-viral drug formulations. However, Asia Pacific region is expected to show fastest growth during forecast period attributed to growing medical tourism industry, rising disposable incomes and expansion of private healthcare sector in emerging countries.
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The new research report titled "Antiviral Drugs Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.
The report highlights the significant players, including market size, share, and demand, development.
This report further covers the latest trends, technological advancements, and growth opportunities.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the antiviral drugs market includes AbbVie, Aurobindo Pharma, Bristol-Myers-Squibb, Cipla, Dr. Reddy’s Laboratories Ltd, Gilead Sciences, GlaxoSmithKline, Hoffmann-La Roche AG, Johnson and Johnson, Merck & Co, and Mylan N.V.. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Antiviral Drugs Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/antiviral-drugs-market/download-sampleMarket DynamicsThe market of antiviral drugs is growing mainly on the ground of rising prevalence of infectious disease along with the presence of strong pipeline of the product.
Also, increasing STD's disease and growing awareness among the people for early and efficient treatment is also projected to raise the demand for the product along with the increasing healthcare expenditure, will boost the growth of the market.
However, the high cost of the drugs is likely to restrain the market growth.This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis.
