The size of the global antiviral drugs market is expected to grow at a 5.15% CAGR between 2022 to 2027 and be worth from USD 35.65 billion in 2022 to USD 45.82 billion by 2027.
The coronavirus impacts millions of people worldwide, and the pandemic has put a strain on pharmaceutical supplies. Healthcare experts treat COVID-19 and other related infections like doctors and nurses using every possible technique. As a result, many medications, especially antiviral therapies, are put under a lot of strain. Patients and governments are also putting pressure on the system by increasing their demand for critical pharmaceuticals. As a result, scientists and researchers have developed a potential SARS-CoV-2 virus antiviral treatment around the clock.
Preclinical investigations showed that antiviral composites were effective against SARS-CoV-2. As a result, companies are collaborating to provide the high demand for COVID-19 vaccine (for example, Pfizer and BioNTech). Since January 2020, the firms have predicted that the lead COVID-19 vaccine will be chosen; they anticipate creating the lead vaccine by September 2020. The first batch of COVID-19 vaccines could be ready for emergency use approval in early 2021. In addition, many massive corporations are increasing their global production capabilities. As a result, the increased capacity will aid in the rapid production of antiviral vaccines. They will offer more than one billion doses of an effective vaccine internationally.
Recently, firms have brought affordable vaccines to the public in response to an enormous need for emergency pandemic use and not for profit. Patients may get immunity as a result of these medications. Governments approve the rapid scale-up because it can help them reopen their economy. There are currently no viable therapies or vaccines for Covid-19; big pharmaceutical companies attempt to combat the novel coronavirus using existing medications. The usage of specialized antiviral medications to treat Covid-19 adds to the global antiviral drug market’s growth. Furthermore, any of these medications in clinical trials have shown to be effective in treating the Covid-19 infection.
The global market for antiviral drugs is rising quicker than the rate at which viral infections are increasing year after year.
Virus infections such as influenza, respiratory syncytial virus, hepatitis, and HIV are the most common causes of antiviral drug use worldwide. Increased research and development initiatives and the development of new formulations, such as vaccines and other medicines, are likely to boost the market. According to the UNAIDS study, 37.9 million persons worldwide were infected with HIV/AIDS in 2019. Furthermore, an increase in healthcare infrastructure spending capability in both developed and developing countries and an increase in the prevalence of life-threatening virus disease and public awareness are further accelerating the growth rate of the global antiviral drugs market. The antiviral drugs sector is likely to grow even more once late-stage pipeline medications reach the market.
Furthermore, the top firms’ robust R&D pipelines and expanding product launches are essential factors in the growth of the antiviral therapeutics market. For instance, Atriva Therapeutics GmbH received EUR 11.4 million in federal financing in April 2021. The funding will be used to advance ATR-002, which is currently undergoing a Phase II clinical trial called RESPIRE. In addition, for infections such as influenza, hepatitis C, chickenpox, papilloma, and AIDS, antiviral medicines are presently commercially available.
Furthermore, advances in molecular biology are driving drug discovery and the increasing use of nucleoside and nucleotide analogs as first-line antivirals. As a result, many small molecule-based antiviral drugs are expected to gain product approvals in the future, propelling the market to new heights based on the existing development pipeline in the industry.
On the other hand, the high expense of creating medications and a rise in demand for alternative treatment such as naturopathy and homeopathy-viral is slowing the growth of the antiviral drugs market. Aside from the significant chance of failure, the market’s growth is hampered by the expensive cost of research and therapy and rigorous regulatory regulations. The market’s most pressing problem is to increase the use of natural products. Furthermore, the rising use of preventive measures and vaccinations for numerous viral infections are stifling the market for antiviral medications.
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KEY MARKET INSIGHTS:
- The HIV/AIDS and Hepatitis segments accounted for the largest market share in the worldwide antiviral medications market in 2021 and are expected to maintain dominance over the forecast period. The standard increase in infectious diseases transmitted is essentially driving the growth. Because of well-established market competitors and the rising prevalence of HIV and other viral illnesses, North America is expected to dominate the anti-viral medicines market.
- COVID-19-induced respiratory failure has resulted in widespread mortality, highlighting the urgent need for effective treatments as well as the long-term need for ant-viral to combat future emergent coronaviruses. According to research by Angela Holly Villamagna et al., there is a need for sustained research and development initiatives in the United States to treat respiratory viral infections caused by COVID-19 effective antiviral medication and the prevention of future emerging coronaviruses.
- The leading firms’ increasing investment in research and development and the US Food and Drug Administration’s (FDA) recent drug approvals are all contributing to the market’s rise in North America. For example, in August 2020, ViiV Healthcare, a global specialist HIV company based in the United States, received FDA approval for Dovato, a complete regimen for the treatment of HIV-1 infection that will be used to replace the current antiretroviral (ARV) regimen in adults who are virologically suppressed.
- In addition, to help pharmaceutical businesses boost their clinical development pipelines and fuel market growth in the current pandemic crisis, the federal government is giving support money. For example, Novavax and Regeneron secured USD 2 billion in funding from the US federal government in July 2020 to develop COVID-19 treatments and vaccines.
- Similarly, product approval is a vital determinant in market expansion. For example, Gilead Sciences, Inc. got FDA approval for its antiviral medication Veklury (remdesivir) in October 2020 to treat COVID-19 patients who require hospitalization. As a result of the aforementioned reasons, market growth in North America is likely to accelerate over the forecast period.
- At the end of 2017, WHO and UNAIDS estimated that 37.7 million individuals worldwide were living with HIV. In 2018, around 2.9 million people were newly infected with HIV, and 1.3 million people died from HIV-related causes. With increased HIV infections and thus growth in the antiviral medicine group, the United Kingdom dominates the European market. Pharmaceutical companies emphasize research and development to bring new pharmaceuticals to market with better medical and therapeutic benefits. These businesses primarily invest in R&D to provide the market with unique and high-quality products. ACCORDING TO THE BRITISH PHARMACEUTICAL INDUSTRY ASSOCIATION, pharmaceutical R&D spending in the UK climbed by more than 15% in 2018, reaching an estimated US $ 5.55 billion. Compared to the rest of Europe, the UK is a relatively stable investment base for the three prominent pharmaceutical investors to expand their R&D activity.
- Johnson & Johnson, Novartis International AG, Roche Holding AG, Pfizer, Merck and Co. Inc., GlaxoSmithKline plc, AstraZeneca AB, Gilead Sciences, and Abbott Laboratories are the top firms in the global antiviral drugs market.
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- Latin America Antiviral Drugs Market
- MEA Antiviral Drugs Market
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