Press release
Antiviral Drugs Market To Expand At A CAGR Of 4.7% Assessment For The Driving Factors, Size, Revenue, Segments, Expansion, Demand, And Opportunities During 2022-2028
The global Antiviral Drugs Market was valued at USD 58.48 Billion in 2021 and is expected to reach USD 80.66 Billion by the year 2028, at a CAGR of 4.7%.
Any medication used to treat an infectious disease brought on by a virus is referred to as an antiviral medicine. HIV/AIDS, influenza, herpes simplex types I and II (cold sores of the mouth), herpes zoster (shingles), viral hepatitis, encephalitis, infectious mononucleosis, and the common cold are all caused by viruses. Antiviral drugs/medications are one class of antimicrobials In addition to antibiotics (also known as antibacterial), antifungal, and antiparasitic medications, or antiviral medications based on monoclonal antibodies. Antiviral drugs are capable of entering virus-infected cells Antiviral medications interfere with the production and/or control of viral nucleic acids, Some substance that prevents the virus from attaching to cells.
Market Dynamics:
Driver:
The recent coronavirus outbreak has boosted the patient base, fueling demand for powerful antiviral medications across the globe. Additionally, the market will benefit from the existence of major industrial players engaged in the creation of a broad product portfolio to reduce the prevalence of the disease. The rise in the frequency of viral infections is what is driving the demand for antiviral medications worldwide. Moreover, an increase in R&D activities and the creation of more modern and sophisticated formulations, such as vaccines and combination therapies are anticipated to fuel market expansion.
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Opportunities:
Numerous novel medications are anticipated to be developed throughout the projected period as a result of increased partnerships for antiviral drug development and production. The market's top rivals are working together to produce cutting-edge therapies that will lessen the virus strain that antiviral medications can treat. May 2022, Cipla Limited and Genes2Me Pvt. Ltd. announced in the 'RT-Direct' multiplex COVID-19 RT PCR Test kit would be made available for purchase in India. Cipla is expanding its diagnostics portfolio to introduce more ground-breaking and ground-breaking products to the market.
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Market coverage
•Available market numbers - 2022-2028
•Base Year - 2021
•Forecast Period - 2022-2028
•Segments covered - By Type, By Application, By Age Group, By Mechanism of Action
•Competitive Landscape - Gilead Sciences Inc (US),GlaxoSmithKline plc (UK),Johnson & Johnson Services Inc (US),AstraZeneca (UK),AbbVie Inc (US)
Market Segmentation
By Type
• Branded
• Generics
By Application
• Influenza
• HIV
• Hepatitis
• Coronavirus Infection
• Human Papillomavirus
• Others
By Age Group
• Adult
• Pediatric
By Mechanism of Action
• DNA Polymerase Inhibitors
• Reverse Transcriptase Inhibitors
• Protease Inhibitors
• Neuraminidase Inhibitors
• Others
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By Region
•North America (U.S., Canada, Mexico)
•Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
•Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
•Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
•South America (Brazil, Argentina, Rest of South America)
Major Key Players Considered in the Market
• Gilead Sciences Inc (US)
• GlaxoSmithKline plc (UK)
• Johnson & Johnson Services Inc (US)
• AstraZeneca (UK)
• AbbVie Inc (US)
• Merck & Co Inc (US)
• Teva Pharmaceutical Industries Ltd (Israel) Regeneron Pharmaceuticals Inc (US)
• Bristol-Myers Squibb Company (US)
• Zydus Cadila (India)
• Cipla Inc (India)
• Prinston Pharmaceutical Inc (US)
• Hetero (India)
• Aurobindo Pharma (India)
• Apotex Inc (Canada)
• Mylan N.V. (US)
• Vir Biotechnology Inc (US) and others major key players.
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Key Industry Development in Antiviral Drugs Market
In September 2021, Gilead Sciences Inc declared the results of their phase 3 trial to evaluate the efficiency and safety of a three-day course of Veklury (Remdesivir). The results are remarkable as they showed positive effects for the treatment of COVID-19 in non-hospitalized patients who were at high risk for disease progression. The study involved 562 participants. These fresh data emphasize remdesivir's capability to aid the high-risk patient to recover before the advancement of the disease and stay out of the hospital.
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