NEW YORK, March 28, 2017 /PRNewswire/ -- The global antiviral drugs market is expected to reach a value of USD 69.2 billion by 2025, based on a new report by Grand View Research, Inc. According to the WHO, cases of viral infections increase by more than 1 million each year with around 357 million patients already suffering from one of the four Sexually Transmitted Infections (STIs), such as Acquired Immunodeficiency Syndrome (AIDS).
Introduction of efficient antiviral drugs with benefits such as rapid action, increased sensitivity, and lower adverse effects is expected to serve this market as a high-impact rendering driver over the forecast period. For instance, Gilead Sciences introduced an FDA-approved drug-Genvoya-in 2016 for treatment of AIDS patients who have previously faced adverse effects, such as bone loss and kidney dysfunction.
Low levels of hygiene, growing geriatric population, and increasing awareness through government campaigns are other drivers resulting in high acceptance of antiviral drugs in developing countries.
Further Key Findings From the Study Suggest:
Reverse transcriptase inhibitors held the largest share by mechanism of action owing to availability of wide range of product portfolio and presence of new molecules in clinical trials
Nucleotide inhibitors are estimated to grow at lucrative rate due to introduction of blockbuster molecules for treatment of Hepatitis C Virus (HCV) infections
Generic drugs are anticipated to witness significant CAGR of over 7.0% over the forecast period as result of patent expiry of blockbuster drugs used for treatment of HIV and HCV
Branded drugs will hold dominant position in 2025 by drug type due to brand loyalty of healthcare professions despite patent expiration and high price associated with these molecules
HIV/AIDS held the dominant share in 2015. High prevalence of HIV infections and presence of favorable government initiatives for curbing them are key factors for high revenue of this segment
Hepatitis on the other hand is anticipated to witness flourishing growth over the forecast period owing to introduction of new molecules and approval of novel combination treatments
North America was the dominant regional market in 2015. High market share is associated with established R&D infrastructure and growing drug development initiatives
Asia Pacific region is anticipated to exhibit fastest regional growth. Local presence of key generic players and growing healthcare infrastructure in this region are key factors for growth
Some of the key players of this market include Gilead Sciences; F. Hoffmann-La Roche AG; GlaxoSmithKline; Bristol-Myers-Squibb; AbbVie; Johnson & Johnson; and Merck & Co. Other generic players in this market are Aurobindo Pharma, Cipla, and Dr Reddy's
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