The size of the Asia-Pacific Antiviral Drugs Market has been estimated at USD 6.49 billion in 2022. It is further expected to worth USD 8.74 billion by 2027, growing at a CAGR of 6.12% during the forecast period.
Rising hospitalization is one of the major driving factors of the antiviral drugs market in APAC. Also, the proliferation of infectious diseases and the growing geriatric population are propelling the market growth. Increasing research and development activities on the potential lead molecules are expected to boost the market. The growing awareness and rising hospitalized acquired infections are factors causing the market growth. Moreover, increasing investment and funding by the government and private organizations in developing countries such as China and India is encourages new market entrants. The top-line outcomes of its Phase I clinical trial for its leading therapeutic candidate ATR-002 were completed. Major biopharmaceutical firms in APAC are focusing on the development of host-targeting antiviral medicines. For infections such as influenza, hepatitis C, chickenpox, papilloma, and AIDS, antiviral medications are now available on the market.
Furthermore, advances in molecular biology drive drug discovery and the increasing use of nucleoside and nucleotide analogs as first-line antivirals. The market uptake of antiviral drugs is influenced by Favorable regulatory policies and initiatives taken by the government. However, effective government initiatives and regulations to provide high-cost treatment at accessible pricing to low-income individuals would help the industry grow in size. In addition, the rising incidence of sexually transmitted diseases and other viral illnesses would fuel demand. In the recent period, new product launches have shown a positive impact on the market growth. Glenmark, for example, announced the availability of FabiFlu (Favipiravir) in June 2020 to treat COVID-19 with mild to moderate symptoms. With ongoing revenue growth during COVID-19, this product launch has maintained its competitiveness in the market.
The high susceptibility to infections and HIV treatment product pipeline present significant potential, but the high cost of HIV and the treatment of Hepatitis and the drug resistance scenario would hinder the Asia Pacific antiviral pharmaceuticals industry growth. The high price of medication research and the rise in demand for alternative therapies such as naturopathy, homeopathy, and oriental medicine, among others, are the leading market restrictions. The majority of people, mainly in India and China, depending on the traditional treatments to treat flu symptoms such as colds, coughs, and viral fever.
This research report on the APAC antiviral drugs market has been segmented and sub-segmented into the following categories:
By End Users:
Geographically, the APAC antiviral drugs market is estimated to account for a significant share in the global market during the forecast period. This is attributed to the growing population in the region; the Growing geriatric population is more prone to contracting viral diseases, expected to impact market growth positively. In addition, infectious infections are a common occurrence among Asian people. South Korea, for example, is a hotspot for contagious illnesses. It might make a significant contribution to the development of the APAC market. AbbVie Inc., Gilead Sciences, Merck & Co., Bristol-Myers Squibb, GlaxoSmithKline, and Aurobindo Pharma Ltd. are among the major competitors in the Asia Pacific antiviral medications market. To establish a presence in the area, these organizations are pursuing various market tactics such as cooperation, product innovation, mergers, and acquisitions.
The Chinese antiviral drugs market had the largest share of the APAC antiviral drugs market in 2020; China's antiviral medicine market had a revenue share of approximately 16 percent. The pandemic of COVID-19 has been the primary driver of industry expansion in the country. Increased investment in R&D and top manufacturers, on the other hand, will help the country's industry grow. In addition, advancing healthcare infrastructure and technological advancements are expected to uplift the market growth.
The Indian antiviral drugs market is one of the most lucrative regional markets in the Asian antiviral drugs market. Government initiatives and supporting investment funding are increasing market growth. However, the recent global pandemic, COVID-19, has increased antiviral drugs in the country. In addition, new product launches have augmented the market growth; for example, in August 2020, Dr. Reddy's Laboratories, an Indian generic drugmaker, launched Avigan, a novel antiviral medicine designed to treat COVID-19 individuals with mild to moderate symptoms.
KEY MARKET PLAYERS:
A few of the promising companies leading in the APAC 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).