Number of pages: 100 | Report Format: PDF | Published date: August 08, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global antiviral drugs market was pegged at US$ 49 billion in 2021 and is expected to witness a CAGR of 3.5% during the forecast period.
Antiviral drugs belong to a group of drugs used to treat viral infections. While most antivirals focus on particular viruses, broad-spectrum antivirals work against a variety of viruses. Contrary to most antibiotics, antiviral drugs merely prevent the growth of the pathogen they are intended to treat. Moreover, antiviral drug is advised for both treatment and prevention of the flu since it helps to shorten the duration of flu symptoms. The medications can also lower the chance of problems like ear infections in children, , and hospitalisation in adults.
The rise in the frequency of viral infections is driving the demand for antiviral drug market globally. Additionally, it is anticipated that an increase in R&D activities and the development of newer and more sophisticated formulations, such as vaccines and combination therapies, will fuel market expansion. Moreover, throughout the forecast period, there are likely to be a lot of chances for market expansion due to the development of broad-spectrum antibiotics and growth prospects in the growing economies of the Asia Pacific and LAMEA regions. The high expense of drug research and rising interest in complementary therapies like naturopathy and homoeopathy, however, are limiting market expansion.
The global antiviral drugs market has been analysed from five perspectives by drug class, type, application, distribution channel and region.
Antiviral Drugs Market by Drug Class
On the basis of drug class, the global antiviral drugs market has been segmented DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others. The segment was dominated by reverse transcriptase inhibitors, which also had the biggest revenue share. Over the forecast period, it is expected that the category will continue to rule the global market. Since reverse transcriptase inhibitors are primarily used to treat HIV infection and have a high level of efficiency against viral infections, the large share of these drugs can be attributed to the rising rates of HIV diagnosis and treatment. Additionally, the development of reverse transcriptase inhibitors will increase the market for these medications in the upcoming years.
Antiviral Drugs Market by Type
Basis on type, the global antiviral drugs market has been segmented into branded and generic antiviral drug. The branded antiviral drugs segment dominated the market during forecast period. A large segment of the market is controlled by branded antiviral medications as Biktarvy, Genvoya, Triumeq, Mavyret, and Prezista. The category is anticipated to be driven by the high adoption rate of branded drugs in the North American and European markets as well as the high cost of pharmaceuticals.
Antiviral Drugs Market by Application
On the basis of application, the global antiviral drugs market has been segmented into HIV, hepatitis, herpes, influenza, and others. The industry leader and owner of the biggest revenue share was the HIV segment. Over the forecast period, the segment is anticipated to increase at the fastest rate. According to estimates, the market will expand at a faster rate due to the high incidence of HIV infection, high treatment rate, availability of branded medications, and government attempts to raise the treatment rate.
Antiviral Drugs Market by Distribution Channel
Based on distribution channel, the global antiviral drugs market has been segmented hospital, retail, and online pharmacies. Due to the introduction of online pharmacies that provide discounts and cost-effective solutions, as well as their increasing popularity among the general public, the online pharmacy services category is anticipated to record a substantial CAGR during the projected period. Increased access to online services and a quicker increase in the number of Internet users, both boost the segment's revenue development.
Antiviral Drugs Market by Region
Based on the region, the global antiviral drugs market has been segmented into North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific market is anticipated to record a steady revenue CAGR over the forecast period due to the emergence of major players, stronger and more developed pharmaceutical industries in nations like India and South Korea, and frequent outbreaks of viral respiratory infections and infectious diseases like Ebola, MERS-CoV, and SARS-CoV in developing countries. Additionally, the advent of effective antiviral medications in nations like India and Japan, as well as activities by government programmes and public actors to promote awareness for serious viral illnesses like HIV, are also anticipated to fuel market revenue growth.
Some of the key players operating the market global antiviral drugs market include
The availability of a well-established supply chain, rising interest in supporting the development of innovative antiviral medications and increased public awareness all contribute to the market's rapid expansion.
Some of the key players operating the market global antiviral drugs market include AstraZeneca plc., F. Hoffmann-La Roche Ltd. among others.
The segment was dominated by reverse transcriptase inhibitors, which also had the biggest revenue share.
North America is anticipated to continue to maintain a sizable portion of the global antiviral market.
A significant factor hindering the growth of the worldwide antiviral medications market's revenue is the availability of vaccinations for viral illnesses.
*Insights on financial performance is subject to availability of information in public domain