Global Antiviral Drugs Market, by Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors and Others), by Type (Branded and Generics), by Application (HIV, Hepatitis, Herpes, Influenza, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
The increasing prevalence of viral infection such as HIV, hepatitis, herpes, and influenza is expected to propel the growth of the global antiviral drugs market during the forecast period. According to World Health Organization (WHO), in 2019, around 71 million people were infected with chronic hepatitis C disease, globally
For instance, in 2018, according to the Centers for Disease Control and Prevention (CDC), around 3.9 million American people are living with hepatitis C. Hepatitis C virus (HCV) infection is a commonly found blood borne infection in the U.S, which cost billions of dollars per year. Similarly, in Canada, 246,000 number of Canadians were estimated to suffer from HCV disease in 2017, wherein around 44% were unaware about HCV infection.
In addition, according to the Weekly U.S. Influenza Surveillance Report published by the Centers for Disease Control and Prevention (CDC), about 13 million flu cases were reported in 2019. Furthermore, according to data published by WebMD in 2018, around 60.0% of the total U.S. population has been exposed to cytomegalovirus (CMV), with a prevalence of around 90.0% in high-risk groups.
This is expected to drive the demand for efficient treatment solutions such as antiviral drugs.
Global Antiviral Drugs Market– Antiviral Drugs Market
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 217.5 million infected individuals worldwide as of September 1, 2021.
COVID-19 can affect the economy in three main ways; by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to the transportation of drugs and devices from one place to another.
Furthermore, players operating in the global antiviral drugs market are facing major challenges on various fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials for manufacturing drug formulations due to irregularities in transportation facility. Moreover, distributors of products are experiencing irregular demand for products from the retailers due to increasing patient population suffering from COVID-19 and other viral infection.
Browse 44 Market Data Tables and 39 Figures spread through 189 Pages and in-depth TOC on “Antiviral Drugs Market”- Global Forecast to 2028, by Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors and Others), by Type (Branded and Generics), by Application (HIV, Hepatitis, Herpes, Influenza, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa)
To know the latest trends and insights prevalent in the Global Antiviral Drugs Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/antiviral-drugs-market-4912
Key Takeaways of the Global Antiviral Drugs Market:
- The global antiviral drugs market is expected to exhibit a CAGR of 4.2% over the forecast period, owing to increasing approval of drug by regulatory authorities such as the U.S. FDA for the treatment of viral infection. For instance, in 2018, Gilead Sciences, Inc., a biopharmaceutical company received the U.S. Food and Drug Administration (FDA) approval for its Biktarvy (bictegravir 50mg/emtricitabine 200mg/tenofovir alafenamide 25mg, BIC/FTC/TAF), a once-daily single tablet regimen (STR) for the treatment of HIV-1 infection.
- Among application, hepatitis segment is expected to account for the largest market share in 2021, owing to increasing prevalence hepatitis B. For instance, Hepatitis B is a viral infection that affects the liver and leads to acute and chronic liver disorder. According to World Health Organization (WHO) 2018, it is estimated that about 780,000 people globally die each year due to complications of hepatitis B, such as liver cirrhosis and liver cancer. Hepatitis B virus (HBV) is highly contagious, and is transmitted through contact with the blood or other body fluids of an infected person.
- Key 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
