According to the report “Global Antiviral Drugs Market,” published by Market Data Forecast, the global market is projected to reach USD 37.40 billion by 2021 from USD 29.16 billion in 2016, at a CAGR of 5.1% from 2016 to 2021.
Antivirals are medications that keep viruses from reproducing inside the body. To date, relatively few effective antiviral drugs have been developed. It is difficult to create effective antiviral medications because viruses are tiny (smaller than bacteria and fungi) and use a cell’s metabolic pathways to replicate. This makes it more difficult to develop medications that attack the virus without also damaging the host cell.
However, some antiviral drugs are known to be effective. Antiviral medications typically are prescribed to control outbreaks of influenza in institutions with large numbers of people at high risk for complications associated with the flu. Examples include nursing homes or hospital wards. Typically, patients receive these drugs as stand-alone preventative medications or as protection against the flu until the flu vaccine begins to take effect (typically about two weeks after administration).
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Global Antiviral Drugs Market: Drivers & Restraints
The growth of Antiviral Drugs market is majorly driven by factors such as increase in public awareness, rise in healthcare expenditure, boost in Research and Development segment, emergence of life-threatening diseases, growing interest to support the development of novel antiviral drugs, existence of well-established supply chain. In addition, increasing incidence rates of viral infections is also fuelling the antiviral drugs market growth, such as according to World Health Organization, HIV/AIDS continues to be the major threat claiming more than 35 million lives so far. Globally, approximately 1.1 million lost their lives due to HIV in 2015. Approximately, 36.7 million people have been suffering from HIV in 2015. Furthermore, as late stage pipeline drugs are anticipated to hit the market, this further supports the antiviral drugs market growth. The key restraints of the market are high cost involved in drug development, increase in demand for alternative medicines (naturopathy, homeopathy, and oriental medicines), growing resistance among viruses against different antiviral drugs causing difficulty in developing broad-spectrum anti-viral drugs, restricted trade policies, lack of incentivization, and side-effects of products (nausea, diarrhea, and behavioral changes).
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Global Antiviral Drugs market: Segmentation
- DNA polymerase
- NS3 Protease
- Reverse transcriptase
- Research Institutes
- Laboratory Centers
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Global Antiviral Drugs market: Overview
Antiviral drugs also may be prescribed in the event of a flu pandemic. A pandemic is an outbreak of an infectious disease that spreads throughout a country, over a continent or across the world and affects many people. The World Health Organization (WHO) has stockpiled antiviral drugs exclusively for this purpose. In the event of a pandemic, these drugs will be distributed in areas affected by the emerging pandemic virus with the goal of preventing or delaying the spread of the virus.
Although a course of antivirals can help prevent the flu, it is considered to be a far less effective prophylactic option than getting a dose of flu vaccine. In addition, physicians are reluctant to overprescribe antiviral drugs because this can lead to the appearance of drug-resistant flu viruses that are difficult to treat.
Flu vaccines are available each flu season from local health providers. Because type A influenza mutates rapidly, a new form of the flu vaccine must be developed each year to protect people from the strains that experts believe will be most likely during that flu season.
While antiviral medications are most frequently used to treat influenza infections, they may also be used for other infections such as herpes simplex infection, respiratory syncytial virus (RSV) and hepatitis C.
Global Antiviral Drugs market: Region-wise Outlook
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 34.0% in the global antiviral drugs market. Whereas, Asia-Pacific is projected to grow at the highest CAGR of 6.12% during forecast period 2016-2021.
Key Questions Answered
- What is the current and future Antiviral Drugs market outlook worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Antiviral Drugs space globally?
- What are the key, high growth markets that Antiviral Drugs manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Antiviral Drugs currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook Antiviral Drugs?
- What are the challenges and barriers that have hindered widespread adoption of Antiviral Drugs?
Global Antiviral Drugs market: Key Players
The major companies dominating the global Antiviral Drugs market are Johnson & Johnson (USA), Novartis International AG (Switzerland), Roche Holding AG (Switzerland), Pfizer (USA), Merck and Co. Inc (USA), GlaxoSmithKline plc (United Kingdom), AstraZeneca AB (United Kingdom), Gilead Sciences (USA), and Abbott Laboratories (USA).
Reasons to buy Global Antiviral Drugs market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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