Antiviral Drugs Market revenue to cross USD 44.5 Bn by 2027: Global Market Insights Inc.

Global Market Insights, Inc
·4 min read

Major antiviral drugs market players include Gilead Sciences, Johnson & Johnson, GlaxoSmithKline, AbbVie, AstraZeneca and Merck & Co.

Selbyville, Delaware, March 08, 2021 (GLOBE NEWSWIRE) --

According to latest report “Antiviral Drugs Market By Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors), Indication (Influenza, HIV AIDS, Hepatitis, Herpes Simplex Virus [HSV], Coronavirus Infection), Type (Branded, Generic), Age Group (Pediatric, Adult, Geriatric), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of antiviral drugs will cross $44.5 billion by 2027. Extensive R&D activities will strengthen the market growth potential.

Occurrence of pandemic such as Ebola virus, Zika virus and coronavirus infection drives the demand for antiviral drugs. As viruses are rapidly developing their structure against environment growing their tolerance to drugs, there is need for continuous development and advancements in antiviral drugs. Recent coronavirus outbreak affected millions of people. Governments are increasing funding to pharmaceutical companies to develop antiviral medications against COVID-19. Thus, rising incidence of COVID-19 coupled with extensive R&D by leading players will spur the market expansion.

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Increasing product approvals will allow antiviral drugs market to grow considerably during the forecast period. The Drug Controller General of India approved Remdesivir under brand CIPREMI introduced by Cipla licensed by Gilead Sciences in India. Also, Hetero launched the same drug with the brand name COVIFOR in the country. These drugs were approved for restricted emergency use pertaining to COVID-19. Rise in number of product approvals through licensing, collaborations and R&D with major market participants will fuel the market demand in the coming years.

Reverse transcriptase inhibitors accounted for 40% of the antiviral drugs market share in 2020. Reverse transcriptase inhibitors are class of drugs classified as nucleoside reverse transcriptase inhibitors (NRTI) and non-nucleoside reverse transcriptase inhibitors (NNRTI). Extensive portfolio of NRTIs and NNRTIs offers immense growth potential to segment. Some of these drugs includes Atripla, Biktarvy, Intelence, Complera, Descovy and Odefsey among others developed against retroviruses. Hence, growing research and development resulting into strong portfolio will influence the market value.

HIV AIDS segment in the antiviral drugs market exceeded USD 22 billion in 2020. Among total patients with HIV, approximately 79% people were aware of their status in 2018. However, 21% people were not accessing testing facilities. In 2018, over 37 million people were living with HIV and 1.7 million new infections were reported in the year. Therefore, demand for effective HIV antivirals to reduce growing burden will boost the segment growth.

Generic antiviral drugs market is expected to witness -1.4% growth rate till 2027. Rapid adoption of generic antiviral drugs for pre-exposure prophylaxis and treatment offers cost advantage to patients. Additionally, cost-effective generic versions of branded drugs increases treatment coverage due to less affordability of high cost drugs within low and middle income classes with less resources. Moreover, rise in number of generic antiviral drug launches will further stimulate the segment expansion.

Geriatric segment held more than 40% of the market share in 2020. Geriatric population is vulnerable to various infectious diseases. Elderly population has a high mortality rate among COVID-19 patients. Approximately, 80-90% of the deaths occurred in patients above 70-year-olds. In addition, cost of treatment for elderly population is also high owing to other chronic disease such as diabetes, thereby contributing to the segment size.

Asia Pacific antiviral drugs market will showcase commendable revenue during the forecast period. Presence of large patient pool and increasing R&D expenditure in pharmaceutical companies will foster the regional growth. Furthermore, rising government support for clinical trials and research activities will further propel the industry growth.

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Major players operating in the market include Gilead Sciences, Johnson & Johnson, GlaxoSmithKline, AbbVie, AstraZeneca and Merck & Co. among others. Industry leaders are implementing various strategies such as product innovations and partnerships to gain competitive advantage for business expansion.

Table of Contents (ToC) of the report:

Chapter 3 Antiviral Drugs Market Insights

3.1 Industry segmentation

3.2 Industry landscape, 2016 – 2027 (USD Million)

3.3 Industry impact forces

3.3.1 Growth drivers

3.3.2 Industry pitfalls & challenges

3.4 Growth potential analysis

3.4.1 By drug class

3.4.2 By indication

3.4.3 By drug class

3.4.4 By age group

3.5 COVID-19 impact analysis

3.6 Regulatory landscape

3.7 Reimbursement scenario

3.8 Porter's analysis

3.9 Competitive landscape, 2020

3.10 PESTEL analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/antiviral-drugs-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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