As per our research report, the Middle East & Africa Antiviral Drugs Market size is estimated to be worth USD 3.03 billion by 2027 and USD 2.36 billion in 2022, growing at a CAGR of 5.07% during the forecast period.
The governments of MEA countries and other non-profit organizations have launched awareness programs on available treatments for sexually transmitted diseases. With the increasing adoption of antiviral drugs, the MEA antiviral drugs market is expected to witness dramatic growth over the forecast period.
Viral infections are one of the major diseases affecting millions of lives around the world. Significant efforts were made in the development of antiviral drugs in the recent past by research institutes and biopharmaceutical and pharmaceutical companies. According to the Joint United Nations Programs on HIV and AIDS, approximately 27.5 million HIV-infected patients had access to antiretroviral therapy by the end of 2020. As the number of patients increases, the market is expected to grow at a lucrative growth rate over the forecast period.
The incidence of infectious viruses such as swine flu, Ebola, Zika virus, and coronavirus has created a demand for effective antiviral therapies. The emergence of the COVID-19 pandemic, causing death and morbidity worldwide, will provide immense opportunities for research and development in the industry. Remdesivir is another clinically proven promising treatment for infections that have been tested in a few patients. With the increasing demand for antiviral drug therapy for coronavirus infections, the segment will grow significantly during the forecast period.
The growth of the MEA antiviral drugs market is expected to be hampered by the high costs involved in drug development, threats associated with counterfeit drugs, and strict government regulations. Some notable trends may include the accelerating rate of growth of infectious diseases, an increased focus on telehealth, the growth of pharmaceutical mergers and acquisitions, and the emergence of new infectious diseases.
This research report on the MEA antiviral drugs market has been segmented and sub-segmented into the following categories:
By End Users:
The Middle East region dominated the Middle East & Africa market with over 39% share in 2020. This is attributed to the presence of key features in the region, such as the availability of infrastructure, sophisticated healthcare, and increased awareness of viral diseases. Increasing patient base, improving the economic stability, and the presence of strong and established generic drug market in Gulf countries are some of the key factors that are expected to provide growth opportunities for the market from the Middle East and African regions.
The sudden outbreak of COVID-19 has caused a major disruption worldwide, which is generating massive demand for antiviral drugs for the treatment of patients infected with the coronavirus, providing a growth opportunity for the global market.
KEY MARKET PLAYERS:
Some of the promising companies operating in the MEA antiviral drugs market profiled in the report are Johnson & Johnson (USA), Novartis International AG (Switzerland), Roche Holding AG (Switzerland), Pfizer (USA), Merck and Co. Inc (USA), GlaxoSmithKline plc (United Kingdom), AstraZeneca AB (United Kingdom), Gilead Sciences (USA), and Abbott Laboratories (USA).
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