Global Antiviral Drugs Market by Type (Branded and Generics) in DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, and Neuraminidase Inhibitors Drug Classes
Industry: Healthcare
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33257
Newly-released Antiviral Drugs Market analysis report by Persistence Market Research shows that global sales of the Antiviral Drugs Market in 2023 were held at US$ 63 Billion. With a CAGR of 0.2% during 2023 - 2033, the market growth is projected to reach a valuation of US$ 64 Billion. The market through Reverse Transcriptase Inhibitors is projected to remain the key revenue contributor.
|
Attribute |
Details |
|
Global Antiviral Drugs Market (2023) |
US$ 63 Billion |
|
Global Antiviral Drugs Market (2033) |
US$ 64 Billion |
|
Global Antiviral Drugs Market CAGR (2023 - 2033) |
0.2% |
|
U.S. Antiviral Drugs Market CAGR (2023 - 2033) |
0.2% |
|
Key Companies Profiled |
|
As per the Antiviral Drugs Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of the Antiviral Drugs Market increased at 0.2% CAGR, wherein, countries such as the U.S., China, Japan, the U.K., and South Korea held a significant share in the global market.
The antiviral therapeutics market is expected to grow rapidly, owing to increased antiviral drug research and development spending by both private and public companies from 2023 to 2033.
The sudden emergence of COVID-19 had a positive impact on the growth of the global antiviral therapy market. The key market players including Gilead Sciences, Inc., GlaxoSmithKline Plc., F. Hoffmann-La Roche Ltd., AbbVie Inc., Merck & Co. Inc. are collaborating on the research and development of new therapies in order to reduce the cost of treating viral infections. For instance, Cipla and Gilead Sciences formed a partnership alliance in May 2020 to develop and commercialize an investigational medicine for the treatment of COVID-19 patients.
The need for broad-spectrum antiviral drugs has increased due to the treatment of novel coronavirus. COVID-19 is commonly treated with Remdesivir, Favipiravir, Oseltamivir, and other combination medicines. In the next two to three years, rising disease incidence combined with increased R&D will drive the demand for antiviral drugs.
In the coming years, increasing collaborations for antiviral drug development and manufacturing are expected to result in the development of a large number of novel drugs. The Antiviral Drugs market is projected to grow at a CAGR of 0.2% over the coming 10 years.
The market through reverse transcriptase inhibitors is projected to remain dominant over the forecast period. One of the key factors for its large share is the increasing diagnosis and treatment rate of HIV, as they are mainly used to treat HIV infection. Furthermore, owing to the presence of reverse transcriptase inhibitors in the pipeline the demand for these drugs will be fuelled in the forthcoming years.
Which Region Is expected to Have Significant Growth Potential in The Antiviral Drugs Market?
During the forecast period, the market for antiviral drugs in Asia Pacific is expected to grow at a significant rate. The significant market growth can be attributed to the rising prevalence of viral infections, the transforming healthcare infrastructure, and rising public awareness of infectious diseases in the region.
The expansion of pharmaceutical companies manufacturing generic drugs in countries such as India and China, coupled with the region's growing geriatric population, is driving market growth.
U.S. Antiviral Drugs Market Analysis
The US market dominated the Antiviral Drugs Market in 2023, and the market in the country is expected to grow with a CAGR of 0.2% and will touch the market revenue of US$ 21.8 billion by 2033.
The increasing investment in research and development by the key players, as well as the robust drug approval by the United States Food and Drug Administration (FDA) in recent years, have contributed to the market's growth in North America. The key drivers in the United States are an increase in viral infection vaccination rates and government initiatives to reduce the incidence of viral infections. For example, the government in the United States is taking several steps, including investing in infectious disease programs and promoting R&D activities for novel viral infection therapies.
China Antiviral Drugs Market Analysis
The market in China with a CAGR of 0.3% will reach a market valuation of US$ 6 billion by the end of 2033. The market in the country is projected to grow due to the rising geriatric population with a high susceptibility to infections. Furthermore, favorable government policies and initiatives, as well as infrastructural development, are enhancing market growth. Infectious disease prevalence, an increase in hospital-acquired infections, and increased awareness of treatment therapies are driving the demand for antiviral drugs in China.
China is developing antiviral drugs based on three main strategies to combat SARS-CoV-2. The first strategy aims to stop the virus from replicating, while the second aims to prevent the virus from entering a target cell. The third strategy is to control the immune system's extreme reaction.
Japan Antiviral Drugs Market Analysis
In Japan, the market is expected to reach a valuation of US$ 2.3 billion by 2033, growing at a CAGR of 0.3% during 2023 - 2033.
South Korea Antiviral Drugs Market Analysis
The market in South Korea is expected to register a CAGR of 0.2% during the forecast period to reach a valuation of US$ 1.4 billion by 2033. The market during this period is projected to witness an absolute dollar opportunity of US$ 28 million.
Why branded Antiviral Drugs dominate the Market?
Branded antiviral drugs are expected to maintain their dominance in the market. The segment is expected to be driven by the high adoption rate in the North American and European markets.
The generics segment is being driven by rising demand for generic antiviral drugs in developing countries due to their cost-effectiveness. The market for generic antiviral drugs is very competitive and price-sensitive.
HIV Application Dominates the Antiviral Drugs Market. Check How?
The market is expected to grow at a faster rate due to the high prevalence of HIV infection combined with a high treatment rate, the presence of branded drugs, and government initiatives to increase the treatment rate. The governments in key countries have announced the Ending the HIV Epidemic (EHE) plan, which aims to end the HIV epidemic in the near future. The goal of the initiative is to reduce HIV infections and improve diagnosis and treatment rates all over the world.
The way in which competition is dealt with has changed considerably as competition has increased. The key companies in the Antiviral Drugs market include Gilead Sciences, Inc., GlaxoSmithKline Plc., F. Hoffmann-La Roche Ltd., AbbVie Inc., and Merck & Co. Inc.
Some of the recent developments in the Antiviral Drugs Market are as follows:
By Drug Class
By Type
By Application
By Region
To know more about delivery timeline for this report Contact Sales
The global Antiviral Drugs Market is worth US$ 63 Billion at present.
The market value is projected to increase at a CAGR of around 0.2% during 2023 – 2033.
The market value increased at a CAGR of around 0.2% during 2018 – 2022.
Branded antiviral drugs are estimated to account for a significant value share in 2023.
Over the period 2023-2033, the market in the market in Asia Pacific is expected to grow at a significant rate.
The top five countries driving demand for Antiviral Drugs are the U.S., U.K., Japan, China, and South Korea.
