Antiviral Drugs Market Size To Reach USD 50.02 BN In 2030 Due to Development Of New, Improved, And More Advanced Formulations, Such As Repurposed Drugs And Drug Combination Therapies, Says Reports and Data
NEW YORK, April 13, 2022 /PRNewswire/ -- The global antiviral drugs market size is expected to reach USD 50.02 Billion in 2030 and register a revenue CAGR of 3.4% during the forecast period, according to latest report by Reports and Data. Development of new, improved, and innovative drug formulations is a key factor expected to drive market revenue growth during the forecast period. Increase in COVID-19 cases, as well as continuous availability of a robust product pipeline of antiviral drugs, are expected to support market growth revenue during the forecast period. Current approaches for developing antiviral therapies, such as repurposed drugs, have gained attention, as they investigate new routes for repurposing commercially approved or rejected pre-existing drugs to treat viral respiratory infections. Successful therapeutic options for viral infections, such as COVID-19, Human Immunodeficiency Virus (HIV), and Human Coronavirus (HCoV), currently involve two or more drug combinations, as they can postpone development of drug resistance. These approaches can help resolve outbreaks in critical situations, in a timely and cost-effective manner.
Growing diversity of viruses may restrain market revenue growth during the forecast period. Viruses mutate at a rapid rate over time, rendering traditional antiviral treatments less effective, if not ineffective. Therefore, antiviral drugs that work against a variety of respiratory viruses must be developed constantly in order to prevent viral respiratory illnesses in the future. Major pharmaceutical companies are coming up with new antiviral drug candidates to meet rising demand, which is supporting market revenue growth. Pfizer PFE and Merck MRK, which market Paxlovid and molnupiravir, respectively, are dominating the COVID-19 antiviral treatment market in the U.S. The Food and Drug Administration (FDA) approved Paxlovid and molnupiravir as new oral antiviral drug options for non-hospitalized COVID-19 infections and authorized them for emergency use in December 2021.
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Some Key Highlights in the Report
Neuraminidase inhibitors segment revenue is expected to register a steady growth rate during the forecast period. The enzyme Neuraminidase (NA) is an attractive target for antiviral therapy, due to its critical role in the pathogenicity of some respiratory viruses. Neuraminidase inhibitors, such as zanamivir and oseltamivir, are highly selective and efficient at inhibiting the replication of influenza A and B viruses, both in vitro and in vivo. Therefore, they are frequently used in the treatment of viral respiratory illnesses.
Human Immunodeficiency Virus (HIV) segment accounted for a significantly large revenue share in 2021, owing to increase in the number of HIV cases around the world. According to a World Health Organization (WHO) report, an estimated 30.2 to 45.1 million people were living with HIV in 2020, and moreover, 6,80,00 people died of HIV till 2021. Increasing HIV diagnoses is driving the need for a more specialized and tailored treatment regimen.
Market in North America is expected to register a steady revenue growth rate during the forecast period, due to high prevalence of viral hepatitis and increase in healthcare funding. Some other key factors, such as presence of a strong healthcare framework, as well as early access to cutting-edge treatment, better medications, and medical technologies, are also expected to drive market revenue growth in the region.
Some major companies profiled in the global market report include AbbVie, Inc., GlaxoSmithKline plc., Gilead Sciences, Inc., Merck & Co., Novartis AG, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Pfizer Inc., and Dr. Reddy's Laboratories Ltd.
On 15th March 2022, Scripps Research, a non-profit biomedical research and drug development organization, and AbbVie Inc. established a global collaboration to explore innovative, direct-acting antiviral therapies for COVID-19.
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For the purpose of this report, Reports and Data has segmented the global antiviral drugs market based on drug type, application, mechanism of action, distribution channel, and region:
Drug Type Outlook (Revenue, USD Billion; 2019-2030)
- Generic Drugs
- Branded Drugs
Application Outlook (Revenue, USD Billion; 2019-2030)
- Influenza
- Hepatitis A, B & C
- Human Immunodeficiency Virus (HIV)
- Herpes
- Respiratory Syncytial Virus (RSV)
- Human Coronaviruses (HCoV)
- Others
Mechanism of Action Outlook (Revenue, USD Billion; 2019-2030)
- Protease Inhibitors
- DNA Polymerase Inhibitors
- Reverse Transcriptase Inhibitors
- Neuraminidase Inhibitors
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Hospital Pharmacy Services
- Online Pharmacy Services
- Retail Pharmacy Services
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Regional Outlook (Revenue, USD Billion; 2019-2030)
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
Latin America
- Brazil
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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