Jul 7, 2020 6:00 PM ET
iCrowd Newswire – Jul 7, 2020
The global anti-viral drugs market is expected to grow at a CAGR of 6.9% and attain USD 62.67 Bn by the end of the forecast period of 2016-2022, asserts Market Research Future (MRFR) in an exhaustive research report.
Anti-viral drugs are used in the treatment of viral infections Growing burden of viral infections is among the prime reasons which drive the market for anti-viral drugs. Infectious diseases such as influenza, herpes, hepatitis C are among the leading causes of death worldwide. Increase incidences of epidemics in viral infection augment the demand for anti-viral drugs which boost the growth of the market.
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Rising prevalence of HIV and other sexually transmitted diseases (STDs) assists the growth of the market. The incidence rate of HIV has seen a surge in recent years, especially in the developing countries which indicate high demand for anti-viral drugs.
Increase in the number of clinical trials has affected the market growth positively. There are a number of anti-viral drugs targeting a host of factors affecting viral replications in the early and advanced stages in clinical trials. The paucity of new anti-viral drugs will be addressed by this drug development which will eliminate the reliance on the limited number of drugs.
Besides, growing focus on R&D activities provides ample opportunities for market growth. However, the limited number of licensed anti-viral drugs and critical FDA approval and patent acquisition procedures are likely to impede the growth of the global anti-viral drugs market. Other factors impeding the growth of the market include the high cost of drug development and loss of patent of various drugs. With the expiration of many blockbuster drugs, the price of such drugs has come down considerably which has affected the market. However, loss of patent of drugs has provided growth opportunities for generics which will drive the market in the coming years.
Anti-viral drugs Market Competitive Landscape
The global anti-viral drugs market is led by some prominent players such as Johnson & Johnson, GlaxoSmithKline Plc, Astra Zeneca AB, Abbott Laboratories, Novartis International AG, Merck & Co. Inc., Gilead Sciences Inc., Cipla Inc, and Hoffmann-La Roche Ltd.
Anti-viral drugs Market Segmentation
The global anti-viral drugs market has been segmented based on application and mechanism of action. By application, the market has been segmented into hepatitis, HIV/AIDS, herpes, influenza and others. By mechanism of action, the market has been segmented into nucleotide polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, and others.
Anti-viral drugs Market Regional Analysis
The Americas, Europe, Asia Pacific, and Middle East & Africa are the key markets for antiviral drugs market. The Americas is the largest market followed by Europe. Growing prevalence of viral infections in the region, the presence of key players in the region and high healthcare expenditure drives the market in the Americas.
The Europe market is driven by the presence of a robust healthcare sector and high investment in R&D activities.
Asia Pacific is slated to be the fastest growing market for anti-viral drugs. Growing prevalence of viral infections in the developing economies of the region coupled with the outlay of massive amounts on healthcare facilities supports the growth of the Asia Pacific market.
Anti-viral drugs Industry Updates
In October 2018, the U.S. Food and Drug Administration approved a new antiviral drug for the treatment of acute influenza in patients above the age of 12 years. Xofluza is the first new antiviral drug with a novel mechanism of action and will be helpful in the treatment of patients who have been symptomatic for not more than 48 hours.
October 2018, the results of a clinical trial of British biotech ViiV Healthcare shows that HIV could be treated with monthly antiviral injections instead of daily drugs. The antiviral two-drug combination injectable is reported to have the same viral suppression effect as three-drug combinations and reduces the risk of harmful interactions with other medication.
Impact of Covid-19 on the Anti-Viral Drugs Market
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Anti-Viral Drugs Market and demographic challenges, showed how it could move forward in the coming years.
Corona Virus (Covid-19) has impacted every single industry, causing steep roads into the global economy. One such industry that has had both positive and negative impacts is the anti-viral drugs market. Coronavirus has negatively impacted by causing disruptions not only in the production of pharmaceuticals but also caused troubles in the supply chain. However positively it has impacted by showing great results in treating covid positive patients.
The concerns started aggravating by the fact that COVID-19 struck first, and worst, in China, which is the world’s one of the leading producers and exporters of active pharmaceutical ingredients (API) by volume. The majority of APIs for generic drug manufacturing across the globe are sourced from India, which also supplies approximately 30 percent of the generic APIs used in the US. However, Indian manufacturers rely heavily on APIs from China for the production of their formulations, procuring around 70 percent from China.
With an indefinite lockdown in China due to the deadly coronavirus outbreak, supplies of raw materials from China to produce drugs for treating HIV, cancer, epilepsy, malaria, and also commonly used antibiotics and vitamin pills, are also likely to be hit.
Table Of Contents
1.2 Scope Of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
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