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Antiviral Drugs Market to surpass US$ 96.30 Bn by 2032

Antiviral Drugs Market to surpass US$ 96.30 Bn by 2032 - Coherent Market Insights

Publish In : May 16, 2024

Report ID : CMI4912

Category : Medical Devices

Antiviral Drugs Market to surpass US$ 96.30 Bn by 2032

The Antiviral drugs market is estimated to be valued at USD 67.04 Bn in 2025 and is expected to exhibit a CAGR of 5.3% over the forecast period (2025-2032). The global antiviral drugs market growth is driven by the increasing prevalence of viral infections such as HIV, hepatitis, herpes, influenza, and coronavirus worldwide. Furthermore, robust pipeline with over hundred antiviral drugs in various stages of clinical trials will further fuel the market growth during the forecast period.

Market Dynamics:

The growth of the global antiviral drugs market is mainly driven by the increasing prevalence of viral infections and strong product pipeline. The rising cases of HIV, hepatitis, influenza, and coronavirus infections globally have boosted the demand for effective antiviral treatment over the last few years. According to The Joint United Nations Programme on HIV/AIDS (UNAIDS), around 38 million people were living with HIV worldwide in 2021. Additionally, the pipeline for antiviral drugs is robust with over hundred candidates in various stages of clinical trials. This robust pipeline will further drive the market growth through frequent product approvals and launches during the forecast period.

Rising Prevalence of Viral Infections

One of the key drivers contributing to the growth of the global antiviral drugs market is the rising prevalence of viral infections across the world. Viruses cause a variety of infectious diseases including influenza, hepatitis, HIV/AIDS, herpes, and respiratory infections. According to the World Health Organization (WHO), influenza alone impacts nearly 1 billion people every year. Additionally, hepatitis B and C infected nearly 290 million people globally in 2018. The growing virus infection rate is encouraging research and development of novel and effective antiviral drugs to tackle these viral diseases. This is expected to drive significant demand in the antiviral drugs market over the forecast period.

Increasing Government Support

Governments across countries are increasing their focus and providing major support for research and development of new antiviral drugs. They are facilitating higher funding through programs, grants, and partnerships with pharmaceutical companies and research organizations. Similarly, governments in other regions are supporting antiviral drug development through favorable regulations and reimbursement policies. This growing government support is fueling market growth.

High R&D Costs Associated

Development of new antiviral drugs requires extensive research and testing, which makes it a highly capital-intensive process. On an average, it costs US$ 1-2 billion and takes 8-10 years to develop a new drug from the stage of discovery to regulatory approval. This includes costs associated with drug discovery, preclinical testing, clinical trials, getting regulatory approvals, and commercial manufacturing. The high costs associated with R&D acts as a major restraint for market growth as smaller players find it difficult to invest such large amounts.

Patent Expiry of Blockbuster Drugs

Patent expiry of blockbuster antiviral drugs leads to decline in revenues of innovator companies and gives rise to generic competition. For instance, Gilead's hepatitis C drug Sovaldi lost patent protection in 2018 in the U.S., which led to huge decline in its sales revenues. Similarly, Tamiflu, an influenza antiviral drug from Roche, also faced generic competition post patent expiry, restraining the market. This limits the scope of growth for leading innovators.

Growing Geriatric Population

Aging population is more prone to viral infections like influenza and hepatitis due to weakening of the immune system with age. For instance, over 60% of seasonal influenza-related deaths occur in people aged 65 years and older. The growing geriatric demographic worldwide will drive the demand for effective and easy-to-use antiviral drugs designed for this patient segment. As per the United Nations, the number of people aged 60 years and above is projected to reach 22% of the global population by 2050 from 12% in 2015. This offers major opportunities for antiviral drugs market players

Link: https://www.coherentmarketinsights.com/market-insight/antiviral-drugs-market-4912

Key Development

  • In April 2023, Shionogi & Co., Ltd., a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for their investigational COVID-19 oral antiviral ensitrelvir (Generic name: ensitrelvir fumaric acid, Code No.: S-217622, hereafter “ensitrelvir”). FDA Fast Track designation is designed to facilitate the development and expedite the review of potential new therapies that treat serious conditions and fulfill an unmet medical need
  • In May 2022, The National Institutes of Health (NIH) have announced that PostEra, a biotechnology company specializing in machine learning for preclinical drug discovery, has been awarded USD 68 million as part of the agency’s efforts to develop antiviral drugs to prevent the COVID-19 pandemic.
  • In December 2021, Cipla, a pharmaceutical company, announced that the drug maker has been granted Emergency Use Authorisation (EUA) permission by the Drug Controller General of India (DCGI) for the launch of Molnupiravir in the country. Cipla plans to launch Molnupiravir under the brand name Cipmolnu.
  • In November 2021, Pfizer Inc., a pharmaceutical company, and the Medicines Patent Pool (MPP), a United Nations-backed public health organization working to increase access to life-saving medicines for low- and middle-income countries, announced license agreement for Pfizer’s COVID-19 oral antiviral treatment candidate PF-07321332, which is administered in combination with low dose ritonavir (PF-07321332; ritonavir). The agreement will enable MPP to facilitate additional production and distribution of the investigational antiviral, pending regulatory authorization or approval, by granting sub-licenses to qualified generic medicine manufacturers, with the goal of facilitating greater access to the global population.

Key Players: AbbVie Inc., GSK plc, Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Cipla, Aurobindo Pharma, Gilead Sciences, Inc., Merck & Co., Inc., Zydus Group, Atea Pharmaceuticals, Johnson & Johnson Services, Inc., Sun Pharmaceutical Industries Ltd., Pfizer Inc., Torrent Pharmaceuticals Ltd., Arbutus Biopharma, Divi's Laboratories Limited, RedHill Biopharma Ltd., and ViiV Healthcare Pty Ltd.

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