The new report by Expert Market Research titled, ‘Global Antiviral Drugs Market size Report and Forecast 2023-2031’, gives an in-depth analysis of the global antiviral drugs market, assessing the market based on its segments like drug classes, types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 53.0 Billion
- Forecast CAGR (2023-2031): 4.1%
- Forecast Market Size (2031): USD 76.3 Billion
The pandemic played a critical role in the development of the market as pharmaceutical companies made numerous efforts to launch antiviral drugs that could curb the spread of coronavirus. The increasing cases of viral infections, such as Herpes and Influenza, among others, and the rising need to prevent the diseases are resulting in the growth of the antiviral industry. Moreover, the developing hospital infrastructure and the rising expenditures in healthcare are also fuelling the market growth. The increasing approvals of the newly developed drugs and their marketing are also augmenting the market growth. The high levels of testing and the expanding diagnosis have also been adding to the growth of the antiviral drugs industry.
Antiviral Drugs Market Definition and Major Segments
Antiviral drugs are medications prescribed to treat viral infections. These drugs fight against the viruses and prevent them from multiplying. It acts by boosting the immune system, lowering the viral load, and blocking receptors so that viruses cannot bind to healthy cells. They are provided as oral drugs, inhaled powder, eye drops, and injections.
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The antiviral drugs industry, by drug class, is divided into:
- DNA Polymerase Inhibitors
- Reverse Transcriptase Inhibitors
- Protease Inhibitors
- Neuraminidase Inhibitors
Based on type, the market is bifurcated into:
On the basis of application, the market is segmented into:
The regional markets of antiviral drugs include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Antiviral Drugs Market Trends
The government initiatives to accelerate the development of antiviral drugs is leading to the incremental development of the industry. For instance: In May 2021, India’s Defence Research and Development Organisation (DRDO), in collaboration with Dr Reddy’s Laboratories (DRL), Hyderabad, developed the drug 2-deoxy-D-glucose (2-DG) for people suffering from COVID-19. Moreover, the product launches by several biotechnology companies to escalate their market potential are also contributing to the expansion of the market. Gilead Sciences, Inc., as a response to COVID-19, developed the first antiviral drug and continues to research this drug to prepare for the emerging pandemic threats. Such developments are expected to augment the antiviral drugs industry in the forecast period.
Key Market Players
The major players in the market are Gilead Sciences, Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc., AbbVie Inc., Merck and Co., Inc., Johnson and Johnson Services, Inc., Cipla Inc., Bristol-Myers Squibb Company, Aurobindo Pharma Limited, and Dr. Reddy’s Laboratories Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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