As per our report, the global antiviral drugs market size is predicted to grow USD 43.5 billion by 2024 from USD 33.9 billion in 2019. This market is forecasted to be growing at a CAGR of 5.15% during the forecast period.
Antiviral drugs are described as curative or disease controlling agents against viral infections. These drugs individually attack viruses at different metabolic processes and alter the normal functioning of viral particles. From the past few years, resistance is observed among viruses against different antiviral drugs with an increasing diversity of microorganisms. This challenge leads to the evolution of broad-spectrum antiviral medicines that individually attack viruses at specified targets such as DNA Polymerase, NS3 Protease, & Reverse Transcriptase. These drugs are used to prevent or cure different viral infections such as HIV/AIDS, Hepatitis, influenza, and other viral infections.
Anti-virus drugs are a class of medicine that kills a virus such as HIV, chickenpox, papilloma, hepatitis B and C viruses, herpes viruses, influenza A and b viruses or that suppress virus ability to replicate. Most anti-viruses target specific types of virus. Moreover, broad-spectrum anti-virus drug is effective against an extensive range of virus. Unlanti-viral number of antibiotics, antiviral drugs do not kill their target pathogen. The global antiviral drug market was showing consistent growth in the pharmaceutical industry and predicted to continue the growing trend in the coming years due to the rise in awareness in the people and better efficiency of the developed drug. The significant patents in anti-virus drugs are Tenofovir, Tamiflu, Relenza and Telbivudine, Sustivahave changed the face of the anti-virus.
IMPACT OF COVID-19 ON ANTI-VIRAL DRUGS MARKET
Millions of people across the world are affected by the coronavirus. This pandemic has put massive pressure on medicine safety stocks. Healthcare providers like doctors and nurses are using every possible tool to treat the COVID-19 and other related infections. It results in tremendous pressure on several medicines, including antiviral drugs. Similarly, the pressure on the system is substantially growing with increased demand from patients and governments for crucial medicines. Scientists and researchers are relentlessly working to develop an investigational antiviral compound to treat SARS-CoV-2 virus.
Antiviral composites show activity against SARS-CoV-2 in preclinical Screenings. The companies are collaborating (ex: Pfizer and BioNTech) to develop COVID-19 vaccine due to the rising demand. The companies are predicting the selection of lead COVID-19 Vaccine since January 2020; they are expected to form the lead vaccine by September 2020, and the first batch of COVID-19 vaccine could be available for emergency use approval in early 2021. Many huge companies are expanding their global manufacturing capacity. So, the additional capacity will contribute to the fast production of the antiviral vaccine, and they can supply more than one billion doses of an effective vaccine globally.
Recently, companies have brought affordable vaccine for the public about the vast demand not for profit basis but emergency pandemic use. These drugs will give potential immunity to the patients. Governments are giving approvals for the fast scale-up it can also help them to the reopening of economies. Still, there are no potential treatment and vaccines for Covid-19; major companies are trying to use existing drugs in the fight against the novel coronavirus. The use of specific antiviral drugs for Covid-19 treatment is contributing to the growth of global antiviral drugs market. Moreover, any of these drugs under trails express further promising results in treating the Covid-19 infection.
Growing incidence of viral infections is majorly supporting the global antiviral drugs market growth.
The global antiviral drugs market is primarily driven by the growth in the virus infections such as influenza, respiratory syncytial virus, hepatitis, and HIV. Increase in research and development activities and innovation of new formulation, including vaccine and various therapy, is anticipated to drive the growth of the market. According to the report of UNAIDS, there were 37.9 million people globally who are suffering from HIV/AIDS in 2019. In that 36.2 million people are adult and 1.7 million were child, while 770000 people died from this disease.
Additionally, growing public awareness, boost in the R &D segment, increasing interest to support the development of novel antiviral drugs, the existence of well-established supply chain is further lavishing the growth of the global antiviral drugs market.
Furthermore, the rise in the healthcare infrastructure spending capability in developed, as well as developing countries, increasing dilation of life-threatening virus disease and people awareness, are fuelling the market growth. As late-stage pipeline drugs are anticipated to hit the market, this further supports the antiviral drugs market growth.
High cost involved in the development of drug and an increase in the demand for different medicine like naturopathy and homoeopathy-viral is degrading the market growth of antiviral medication. In addition to this high risk of failure, high cost of research and therapy and stringent government activities are some of the factors hampering the growth of the market. Increasing the use of natural products are the critical challenges faced by the market.
Furthermore, increasing preventive measures and the availability of vaccines for various viral diseases is hampering the antiviral drugs market growth to some extent.
Market Size Available
2018 to 2024
2019 to 2024
By Application, Target, End Users and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global antiviral drugs market segmented and sub-segmented based on the application, target, end-users and region.
Antiviral Drugs Market - By Application:
Based on application, the HIV/AIDS and the Hepatitis segments were together accounted for the highest market share in the global antiviral drugs market in 2019 and is predicted to continue their domination throughout the forecast period. The growth is primarily driven due to the standard increase of infectious diseases that are transmitted
Antiviral Drugs Market - By Target:
Based on the target, the reverse transcriptase segment is projected to perform well among all during the forecast period. This segment is said to be influencing the antiviral drugs market for the forthcoming years due to the efficacy in averting or slowing down of the viral infections.
Antiviral Drugs Market - By End Users:
Based on the End-User, the hospital's segment was accounted for the largest share in 2019 and forecasted to grow at the highest CAGR during the forecast period. The growth of the segment is attributed to a large number of patients, along with their admissions, are the factors responsible for the growth of the antiviral drugs market.
Antiviral Drugs Market - By Region:
Regionally, North America is considered to be the most influencing region in the global antiviral drugs market accounting more than 34.0% of the share. The North American market size is estimated to reach USD 10.95 billion by 2024, with a CAGR of 4.47% over the forecast period. The factors responsible for the growth of the market in this region like an emergency of the critical situation of diseases, and also a standard increase of infectious diseases across the globe. In this region, the United States is the leading market.
Europe stands second in leading highest shares in the global antiviral drugs market followed by North America. European antiviral drugs market size is projected to grow at a CAGR value of 4.98% over the forecast period. Factors such as new vaccines coming into the market by the key players and also common infectious diseases are fueling the market growth. The UK leads the market in this region.
Asia-Pacific is expected to have fast growth throughout the period with a CAGR value of 6.12% from 2019 to 2024. China is the most lucrative country in the Asia Pacific antiviral drugs market, obtaining majority shares in the market in 2019 due to the factors like increasing knowledge in public, and the launch of new products. Japan is next to China in showcasing a healthy CAGR.
Latin America market size is estimated to grow USD 5.06 billion by 2024. The governments of Latin America region is working in introducing new antiviral drugs for those who are suffering from infectious diseases like Hepatitis C, also HIV/AIDS. These factors are responsible for market growth in Latin America.
The Middle East & Africa region is estimated to showcase a CAGR of 5.07% during the forecast period. Factors such as an increase in healthcare expenditure, rising occurrence of viral infections and utilization of natural medicines are majorly propelling the market growth in this region.
TOP COMPANIES IN THE MARKET
Companies leading the global antiviral drugs market profiled in this 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).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.7 Y-o-Y Growth Analysis, By Application
5.1.8 Market Attractiveness Analysis, By Application
5.1.9 Market Share Analysis, By Application
5.2.2 DNA polymerase
5.2.3 NS3 Protease
5.2.4 Reverse transcriptase
5.2.6 Y-o-Y Growth Analysis, By Target
5.2.7 Market Attractiveness Analysis, By Target
5.2.8 Market Share Analysis, By Target
5.3 End Users
5.3.3 Research Institutes
5.3.4 Laboratory Centers
5.3.5 Y-o-Y Growth Analysis, By End Users
5.3.6 Market Attractiveness Analysis, By End Users
5.3.7 Market Share Analysis, By End Users
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.4 Market Attractiveness Analysis
6.1.5 Market Share Analysis
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Johnson & Johnson
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Novartis International AG
8.3 Roche Holding AG
8.5 Merck and Co. Inc
8.6 GlaxoSmithKline plc
8.7 AstraZeneca AB
8.8 Gilead Sciences
8.9 Abbott Laboratories
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures