ANTIVIRAL DRUGS MARKET ANALYSIS

Antiviral drugs are used for the treatment of viral infections, such as human immunodeficiency virus (HIV), hepatitis, and influenza. Broad-spectrum antiviral drugs can be used to treat a range of viruses.

The increasing approval of drug for the treatment of viral infection is expected to drive the market growth over the forecast period. For instance, in March 2019, GlaxoSmithKline Plc (pharmaceutical company) announced that Viread (tenofovir disoproxil fumarate), an oral antiviral drug for chronic hepatitis B treatment, received approval from the National Medical Products Administration for its updated safety statistics on chronic hepatitis B treatment in pregnant patients.

Moreover, ongoing research and development activities and private investments in the healthcare sector for the introduction of new and effective drugs is expected to positively impact revenue growth of the antiviral drugs market over the forecast period.

The global antiviral drugs market is estimated to be valued at US$ 56,480.7 million in 2021 and is expected to exhibit a CAGR of 4.2% over the forecast period (2021-2028).

Figure 1. Global Antiviral Drugs Market Share (%) in Terms of Value, By Region, 2021

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Increasing government initiatives for viral infection is expected to drive the market growth over the forecast period.

For instance, in 2017, the U.S. Department of Health And Human Service started the National Viral Hepatitis Action Plan 2017-2020 (Action Plan) to fight against viral hepatitis in the U.S. The plan outlines strategies to achieve three major goals between 2017 and 2020, such as preventing new viral hepatitis infections, reducing deaths, and improving the health of people with viral hepatitis.

Figure 2. Global Antiviral Drugs Market Share (%), by Application, 2021

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The rising government investments in key companies to promote research and development for treatment of viral infection is expected to offer a lucrative opportunity for the market players to develop novel therapeutics for the treatment of viral infection. 

For instance, in July 2020, Novavax (biotechnology company) and Regeneron Pharmaceuticals, a biotechnology company, received US$ 2 billion funding from the U.S. federal government to manufacture drugs and vaccines against COVID-19.

Global Antiviral Drugs Market– Impact of Coronavirus (COVID-19) Pandemic- Government Measures to Combat COVID-19

Governments are taking various initiatives to combat COVID-19. For instance, in May 2020, the Centers for Disease Control and Prevention started working with the All-of-Government and All-of-America Approach to increase testing capacity, improve case detection, and contact tracing across all states in the U.S. and to re-open the country.

Moreover, antiviral composites shows activity against COVID-19 virus during the preclinical screening, many pharma company have brought affordable vaccine and drugs for the public emergency pandemic use to give potential immunity to the patients. Governments are giving approval for fast scale-up, which can help them to reopen economics. Till date, there is no potential treatment are available for Covid-19, major companies are trying to use existing drug for novel corona virus.

The use of specific antiviral drug for the treatment of COVID-19 contributes to the growth of antiviral drug market.

Global Antiviral Drugs Market: Restraint

High cost of hepatitis drugs is a major barrier for many patients to receive treatment for this disease. In 2014, the U.S. Food and Drug Administration approved direct-acting antiviral medications for the treatment of hepatitis C disease.

The high cost drugs for hepatitis C –

Harvoni costs US$ 94,500 for a 12-week treatment

Mavyret costs US$ 39,600 for a 12-week treatment

Technivie costs US$ 76,653 for a 12-week treatment

Such high cost treatment is a major restraining factor for antiviral drugs market. 

Key Players

Major players operating in the global antiviral drugs market include GlaxoSmithKline plc. AbbVie Inc., Merck & Co., Inc., Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Cipla Inc., Aurobindo Pharma, and Gilead Sciences