Antiviral drugs are a type of drugs that treat viral infections such as HIV, hepatitis, and flu. These medicines are generally regulated as vaccines. The growth in viral infections & spreaders expand the global market for antiviral drugs. Market growth will also be navigated by an increase in R&D and the development of more complex formulations such as many therapies and vaccines. As per the World Health Organization’s data in 2019, over 1.5 million new cases with hepatitis B infection are reported every year and nearly 296 million individuals were estimated to be infected with chronic hepatitis B across the world. Therefore, the increase in cases of several other infectious diseases such as herpes simplex virus, hepatitis virus, and influenza will activate the market revenue.
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According to UnivDatos Market Insights (UMI)’ research report “Antiviral Drugs Market”, the market is expected to witness a CAGR growth of around 3.4% during the forecast period 2021-2027F. This can be mainly attributed to increase in government funding coupled with rising number of research institutes getting involved in discovering new drugs and therapies, including Antiviral Drugs.
Based on Drug class, the Antiviral Drugs Market is segmented into Reverse transcriptase inhibitors, Protease inhibitors, and others. In 2020, Reverse transcriptase inhibitors category dominated the global Antiviral Drugs market. Reverse transcriptase inhibitors are class of drugs used in the management and treatment of HIV The reverse transcriptase inhibitors segment was observed for more than USD 11 billion revenue in 2021. NNRTIs as well as NRTIs are used in the treatment of hepatitis and human immunodeficiency virus (HIV) infections. Thus, rising adult population coupled growing prevalence of sexually transmitted infectious diseases is a major cause of HIV and hepatitis among the population. In addition, as per the World Health Organization (WHO), about 491 million people aged 15–49 years were having HSV-2 infection in 2016 that causes genital herpes.
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Based on Distribution Channel, the market is bifurcated into Hospitals and Clinics, Drug Stores and Retail Pharmacies, and Online Pharmacies. During the forecast period, online pharmacies category is expected to witness robust growth mainly due to the rising adoption of digital services coupled with rising internet penetration. The internet’s supply of pharmaceuticals has developed in numerous ways and according to different models in each part of the world. This is due to diverse regulatory, economic, and cultural environments. In the U.S., the online pharmacy market is mainly prescription based, while throughout Europe and APAC, this segment is forming according to a nonprescription based mode. Moreover, growing internet penetration in developing countries of the world and entry of various tech start-ups in the sector is further fueling growth in the market.
Asia-Pacific is expected to witness highest growth
Based on regions, the report provides detailed analysis for overall demand of Antiviral Drugs for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Growing aging population coupled with presence of major pharmaceutical companies in the region would increase the development of drugs and therapies for treatment of Antiviral in countries such as India, China, and other developing Asian countries.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Antiviral Drugs Market are Gilead Sciences, AbbVie, Inc., Merck & Co., GlaxoSmithKline plc, Aurobindo Pharma Limited., Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Cipla, Inc., Mylan N V, and Bristol-Myers Squibb. These companies are investing heavily on Antiviral Drugs reagents and assay kits to help research organizations in their studies.
§ In January 2022, Aurobindo Pharma Limited launched molnupiravir under the brand name, Molnaflu, for COVID-19 treatment in India. This will strengthen the company’s product portfolio thereby, creating revenue growth opportunities.
§ In August 2020, Pfizer Inc. announced a multi-year agreement with Gilead Sciences, Inc. to manufacture and supply Gilead’s remdesivir, an investigational antiviral drug used to treat COVID-19 patients. These has broadened the company’s customer reach.
“Antiviral Drugs Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Drug Class (Reverse transcriptase inhibitors, Protease inhibitors, and Others)
2. By Application (HIV, Hepatitis, Herpes, Influenza, etc.)
3. By Distribution Channel (Hospitals and Clinics, Drug Stores and Retail Pharmacies, and Online Pharmacies)
4. By Region (North America, Europe, Asia-Pacific, Rest of World)
5. By Company (Gilead Sciences, AbbVie, Inc., Merck & Co., GlaxoSmithKline plc, Aurobindo Pharma Limited., Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Cipla, Inc., Mylan N V, and Bristol-Myers Squibb)
Key questions answered in the study:
1. What are the current and future trends of the Antiviral Drugs industry?
2. How the industry has been evolving in terms of distribution channel and route of administration category?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Antiviral Drugs industry?
5. What is the customer orientation, purchase behavior, and expectations from the Antiviral Drugs product suppliers across various countries?