Antiviral Drugs Market to hit USD 64 Billion by 2028, Says Global Market Insights Inc.

Antiviral Drugs Industry is anticipated to register over 3.4% CAGR between 2022 and 2028 due to the growing R&D expenditure for novel drug development coupled with rising awareness regarding effective treatment therapies.

SELBYVILLE, Del., April 4, 2022 /PRNewswire/ -- Global antiviral drugs market value is projected to reach over USD 64 billion by 2028, according to a new research report by Global Market Insights Inc. Extensive product pipeline and growing research and development activities will propel the industry growth.

Growing prevalence of numerous infectious diseases such as COVID-19, Ebola, Zika virus, seasonal influenza, Hepatitis, and coronavirus infections will impel the demand for antiviral drugs. Moreover, growing need for continuous drug developments and advancements in antiviral drugs as viruses are rapidly developing their structure against environment increasing their tolerance to drugs. Further, recently millions of people were infected by COVID-19 virus across the world which has driven the demand for antiviral drugs to curb high disease burden.

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Growing number of product approvals will foster the antiviral drugs market share in upcoming years. For instance, the Drug Controller General of India (DCGI) approved Cipla's CIPREMI, an investigational antiviral drug remdesivir licensed by Gilead Sciences for restricted emergency use pertaining to COVID-19 in India. Similarly, Dr Reddy's Laboratories launched antiviral drug favipiravir under Avigan brand name licensed by Fujifilm Toyama Chemical Co, for the potential treatment of mild to moderate Covid-19 patients in India. Rising product pipelines and drug approvals through robust R&D, licensing, and collaborations with prominent industry players will generate the market revenue.

Some major findings of the antiviral drugs market report include:

• Growing prevalence rate of HIV, COVID-19 and other infectious diseases will boost the market demand.
• High investment in research and development activities by major industry players will stimulate the market value.
• Rising awareness and government initiatives in emerging nations for availability of advanced treatment therapies for sexually transmitted diseases will bolster the business expansion.
• Increasing product approvals to combat infectious disease burden will fuel the industry landscape.
• The COVID-19 pandemic has positively influenced the market forecasts. Sudden surge in demand for effective medicines for coronavirus treatment will stimulate the market statistics.

Browse key industry insights spread across 195 pages with 319 market data tables & 15 figures & charts from the report, "Antiviral Drugs Market Forecasts By Type (Branded, Generic), Age Group (Pediatric, Adult, Geriatric), Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors), Indication (Influenza, HIV AIDS, Hepatitis, Herpes Simplex Virus [HSV], Coronavirus Infection), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/antiviral-drugs-market 

Antiviral drugs market from reverse transcriptase inhibitors segment accounted of 24% business share in 2021 and is set to register a significant CAGR through 2028. Reverse transcriptase inhibitors are further classified as nucleoside reverse transcriptase inhibitors (NRTI) and non-nucleoside reverse transcriptase inhibitors (NNRTI). High availability of extensive product portfolio of NRTIs and NNRTIs offers lucrative growth potential to segment. Some of these antiviral drugs includes Biktarvy, Atripla, Intelence, Descovy, Odefsey and Complera among others used in antiretroviral therapy. Hence, rising research and development activities resulting into strong product portfolio will spur the industry statistics. 

Antiviral drugs market from HIV AIDS segment exceeded USD 23 billion in 2021 owing to increasing hepatitis disease burden in the world. Additionally, strong presence of market participants involved in discovery, development, and manufacturing of novel drugs to treat hepatitis infections will augment the market progression. This strategy has strengthened market position of the company. With growing product availability and accessibility.

Hepatitis segment surpassed USD 10 billion in 2021. As per the Hepatitis B Foundation, approximately 2 billion people are affected with Hepatitis B virus worldwide. Rise in number of patients with Hepatitis virus will drive drug development activities in the upcoming period. However, declining cost of therapy will also impact the overall market revenue.

Asia Pacific antiviral drugs market is set to reach USD 10 billion by 2028. This is owing to presence of large patient base and increasing R&D expenditure in pharmaceutical organizations will accelerate regional market size. Further, increasing government funding for clinical trials and research activities will further fuel the market growth. For instance, in June 2020, Central Drugs Standard Control Organization (CDSCO) granted marketing authorization to Gilead Science's antiviral drug remdesivir for coronavirus treatment in India. Thus, increasing need for effective medication to cure COVID-19 infection will further propel the regional market expansion.

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Some of the key industry players operating in antiviral drugs industry include Gilead Sciences, AbbVie, Inc., Merck & Co., GlaxoSmithKline plc, Aurobindo Pharma Limited., Johnson & Johnson, Sun Pharmaceutical Industries Ltd., Cipla, Inc., Mylan N V, and Bristol-Myers Squibb among others.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.