North America Antiviral Drugs Market Size & Growth (2022 to 2027):
As per the research report, the size of the North America Antiviral Drugs Market is valued at USD 14.23 billion in 2022 and is expected to reach USD 17.71 billion by 2027, growing at a CAGR of 4.47% during the forecast period from 2022 to 2027.
The increasing prevalence of viral infections such as HIV and influenza, along with increasing R&D activities and the development of newer and advanced formulations, are the few factors responsible for the high growth rate of the market during the forecast period. According to the CDC, the prevalence of oral herpes (HSV-1) and genital herpes (HSV-2) was 48% and 12%, respectively, from 2018 to 2019. The Herpes Resource Center (HRC) Raises Public Awareness, Educates, and Supports. In addition, the Hepatitis B Foundation gives information on the diagnosis, preventive measures, and treatment modalities. The increase in preventative measures with the availability of various vaccines is expected to hamper the growth of the North America antiviral drugs market during the forecast period.
According to the Joint United Nations Program on HIV / AIDS (UNAIDS), approximately 38.9 million people worldwide were infected with HIV in 2019. Of these, approximately 1.84 million people contracted HIV in 2019. On top of that, over 690,500 people have died of AIDS. These numbers suggest that access to therapeutic antiviral drugs continues to increase, which is the main driver of market growth. Moreover, the strong R&D development by major bio-pharmaceutical companies, along with the increase in product launches, are the main drivers for the growth of the North America antiviral drugs market.
However, the high cost of antiviral drug therapy may hamper the market growth in developing regions.
There is an increasing development in molecular biology promoting drug development and the increasing adoption of nucleosides and nucleotide analogs as first-line antiviral treatment regimens. Based on the current development line in the market, it is expected that many small-molecule antiviral drugs will receive product approvals in the future, which will take the market growth to huge heights.
Strong competition among various products and bringing antiviral drugs to market in underdeveloped areas is difficult and time-consuming so they can jeopardize the growth rate of the market.
This research report on the North America Antiviral Drugs Market has been segmented and sub-segmented into the following categories:
By End Users:
Rest of North America
North America is expected to dominate the antiviral therapy market, owing to the presence of established players in the market and the increasing prevalence of HIV and other viral infections.
The U.S Antiviral Drugs Market will hold a large share in the North America region. The market growth in the U.S region is attributed to the increased investment in research and development by major companies and the strong drug approval by the Food and Drug Administration (FDA) in the United States in recent years. Additionally, to stimulate market growth in the current covid -19 pandemic situation, the federal government is providing support funds to pharmaceutical companies to help them strengthen their clinical development lines. For example, in 2020, the United States federal government manufactured COVID-19 drugs and vaccines with public funds. Hence, owing to the abovementioned factors, it is expected to drive market growth in the North American region during the forecast period. Furthermore, Canada Antiviral Drugs Market will also have a healthy, steady growth rate in the upcoming years owing to improving healthcare infrastructure in the region.
Companies playing a dominant role in the North America 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).
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