The global antiviral drugs market is anticipated to grow at a CAGR 5.92% during the forecast period 2019-2025 and is estimated to reach USD 63,903.56 million by 2025 from USD 42,709.56 million in 2018.
Antiviral drugs are basically medications used for the treatment of viral infections. These drugs do not destroy their target pathogen, but instead they inhibit their development.
Factors such as increasing prevalence of viral infections and rising R&D activities by major players to launch more antiviral drugs are expected to drive the market growth. According to the Worldometer, the world reported 3,28,808 new COVID-19 cases on 27 July and 1,37,526 cases on 15 July were registered globally. Other factors responsible for market growth include rising awareness regarding viral diseases.
However, increasing awareness regarding effectiveness of vaccines and stringent government regulations for product approvals is expected to negatively impact the market growth during the forecast period.
The current pandemic situation due to COVID-19 caused due to coronavirus is providing lucrative opportunities for market players to expand in the market.
The global antiviral drugs market has been segmented into drug type, therapeutics and end user.
On the basis of drug type, the global antiviral drugs market is divided into branded drugs and generic drugs. Branded drugs segment accounted for the largest market share due to worldwide belief that branded drugs are safer for consumption and more effective.
By therapeutics, the global antiviral drugs market is classified into HIV/AIDS therapeutics, Hepatitis (B&C) therapeutics, Herpes therapeutics, Influenza therapeutics and Pneumonia. Rising prevalence of HIV/AIDS is expected to contribute to the largest market share of the segment.
Based upon the end user, the market is categorized into ambulatory surgical centers, clinics, and hospitals. The hospitals segment is anticipated to account for the largest market share as they are primary point of care for any disease.
By region, the global antiviral drugs market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa.
Americas is estimated to lead the global market during the forecast, owing to rising prevalence of viral diseases. As published by the Centers for Disease Control & Prevention (CDC) there were 38,281 HIV/AIDS diagnoses in 2017. The Europe market is expected to garner significant market share owing to the well-developed healthcare infrastructure. The antiviral drugs market is the Asia-Pacific region is anticipated to grow at the fastest CAGR owing to the increasing prevalence of viral disease. The market in the Middle East & Africa is expected to hold significant market share owing to the high patient pool.
Key market players covered in the report include Abbott (US), AstraZeneca plc (UK), Bristol-Myers-Squibb (US), GlaxoSmithKline (UK), Roche Holding AG (Switzerland), Cipla (India), Dr. Reddy (India), Gilead Sciences (US), Johnson & Johnson (US), Merck & Co., (US) and Schering-Plough (US). Companies are involved in strategies such as product approvals and agreements for gaining competitive advantage over its counterparts. For instance, in June 2020, GlaxoSmithKline announced that its antiviral drug remdesivir was the first drug to improve health in COVID-19 patients in formal clinical trials.
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