The global prevalence of HIV, hepatitis, Ebola, and other viral diseases is driving significant market growth in the antiviral drugs market. Furthermore, growing viral disease awareness initiatives and an increasing geriatric population base susceptible to viral diseases will contribute to an increase in demand for antiviral drugs. Moreover, increasing advancements in antiviral drugs, such as proteolysis targeting chimera mechanism, targeted covalent inhibitor mechanism, and others to improve drug efficacy, will drive the antiviral drugs market
LAS VEGAS, Feb. 2, 2023 /PRNewswire/ -- DelveInsight's Antiviral Drugs Market Insights report provides the current and forecast market analysis, individual leading antiviral drugs companies' market shares, challenges, antiviral drugs market drivers, barriers, and trends, and key antiviral drugs companies in the market.
Key Takeaways from the Antiviral Drugs Market Report
To read more about the latest highlights related to the antiviral drugs market, get a snapshot of the key highlights entailed in the Global Antiviral Drugs Market Report
Antiviral Drugs Overview
The rise in viral infections and respiratory syncytial virus epidemics in recent years has been attributed to changing environmental conditions. Other factors such as increased human mobility, increased trade and tourism, and shifting geographic distributions of disease vectors all contribute to the rapid spread of viral infectious diseases. Antiviral medications reduce the ability of viruses to spread via physical contact or aerosols. These medications shorten the duration of flu symptoms and are recommended for the future treatment and prevention of influenza-like symptoms and viral pneumonia. The medicines may also reduce the risk of respiratory complications. Oseltamivir phosphate (Tamiflu), Baloxavir, and zanamivir (Relenza) are some of the most commonly prescribed Food and Drug Administration (FDA)-approved antiviral medications recommended by the Centers for Disease Control and Prevention (CDC) to treat seasonal flu.
Antiviral Drugs Market Insights
North America dominated the global antiviral drug market in 2021 and will continue to do so during the forecast period of 2022?2027. This can be attributed to the increasing demand for antiviral drugs in the region due to the rising prevalence of many viral and infectious diseases, the growing geriatric patient pool suffering from viral diseases, the increasing initiatives for viral disease awareness, and others.
Furthermore, the region's antiviral drug launches, regulatory approvals, and other activities, such as acquisitions and agreements, will lead to increased market demand. For instance, in December 2022, the FDA approved lenacapavir (Sunlenca) as a first-in-class, twice-yearly treatment option for heavily treated adults with multidrug-resistant HIV-1. Lenacapavir works through a multi-stage mechanism of action "distinguishable from other currently approved classes of antiviral agents.
To know more about why North America is leading the market growth in the antiviral drugs market, get a snapshot of the Antiviral Drugs Market Outlook
Antiviral Drugs Market Dynamics
According to the World Health Organization (WHO) 2022, nearly 38.4 million people worldwide were infected with HIV in 2021. According to the source, nearly 36.7 million were adults (aged 15 and up), and approximately 1.7 million were children (aged less than 15). As a result, the rising prevalence of HIV infection and increased public awareness of the disease will drive up demand for antiviral drugs used to treat HIV infection.
Furthermore, expanding product launches and approvals around the world, the presence of a robust number of drugs in the pipeline, and strategic activities by key players to increase manufacturing and research for antiviral drugs will all help to boost the antiviral drugs market.
Moreover, advances in molecular biology are spurring drug development, coinciding with the increased use of nucleoside and nucleotide analogs as first-line antivirals. Many small molecule-based anti-viral drugs are expected to receive product approvals in the future, propelling the antiviral drugs market growth to unprecedented levels during the forecast period, according to the market's current development pipeline.
However, the emergence of antiviral drug resistance, antiviral drug side effects, the high cost of therapy, and the stringent regulatory approval process may prove to be impediments to antiviral drugs market growth.
Additionally, during the COVID-19 pandemic, antiviral drugs were used to prevent the spread of the SARS-CoV-2 virus and other infectious agents, which boosted the antiviral drugs market. Although the market suffered during the initial lockdown stage due to strict lockdown restrictions and disruption in manufacturing and supply chains. However, as the demand for antiviral drugs increased, the market's key players accelerated their production. Many key players engaged in antiviral drug strategic decisions, investments, and research and development activities, resulting in increased demand for antiviral drugs.
Get a sneak peek at the antiviral drugs market dynamics @ Antiviral Drugs Market Dynamics Analysis
Antiviral Drugs Market CAGR
Projected Antiviral Drugs Market Size by 2027
USD 51.4 Billion
Key Antiviral Drugs Companies
AbbVie Inc., Bristol-Myers Squibb Company, Gilead Sciences, Inc., F. Hoffmann-La Roche Ltd, Pfizer Inc., Cipla Inc., Lupin., ENTOD INTERNATIONAL, AstraZeneca, Dr. Reddy's Laboratories Ltd., GSK plc., Johnson & Johnson, Merck & Co., Inc., Novartis AG, Sanofi, ViiV Healthcare, Aurobindo Pharma., Sun Pharmaceutical Industries Ltd., Viatris Inc., Boehringer Ingelheim, among others
Antiviral Drugs Market Assessment
Which MedTech key players in the antiviral drugs market are set to emerge as the trendsetter explore @ Antiviral Drugs Companies
Table of Contents
Regulatory and Patent Analysis
Key Factors Analysis
Porter's Five Forces Analysis
COVID-19 Impact Analysis on Antiviral Drugs Market
Antiviral Drugs Market Layout
Global Company Share Analysis ? Key 3-5 Companies
Antiviral Drugs Market Company and Product Profiles
Interested in knowing the antiviral drugs market by 2027? Click to get a snapshot of the Antiviral Drugs Market Trends
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