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
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.
|Base Year:||2020||Market Size in 2021:||US$ 56,480.7 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||4.2%||2028 Value Projection:||US$ 75,558.0 Mn|
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
|Restraints & Challenges:||
Figure 2. Global Antiviral Drugs Market Share (%), by Application, 2021
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.
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
Antiviral drugs are prescription medicine such as pills, liquid, or intravenous solution to treat HIV, hepatitis B and C viruses, influenza A and B viruses, and herpes viruses. Antiviral drugs are different from antibiotics, which fight against bacterial infections.
Furthermore, the global antiviral drugs market is driven by increasing prevalence of viral infection such as HIV/AIDS. For instance, according to the report of Joint United Nations Programme (UNAIDS) (2021), there were 37.9 million people suffering from HIV/AIDS and around 770,000 people died from this disease globally in 2020.
Key players are focusing on product approvals to strengthen their position in the global antiviral drugs market.
For instance, in April 2021, Zydus Cadila, a pharmaceutical company has received Drug Controller General of India (DCGI) approval for its antiviral drug Virafin for the treatment of moderate COVID-19 infection in adults.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.