Global Antiviral Drugs Market: Snapshot
With the significant increase in the incidence of viral infections, the global antiviral drugs market is witnessing a substantial rise in its size and valuation. The increasing prevalence of chronic infections, such as HIV/AIDS and hepatitis B, which require long-term treatment, is also adding considerably to the growth of this market.
Going forward, the strong focus of drugmakers on research and developments, resulting in innovation and advancements in drugs and therapies, together with the rising reports of newer viral infectious diseases, is likely to boost the market for antiviral drugs to great extents over the forthcoming years. The availability of low cost treatments and the advancements in healthcare facilities in developing regions are also projected to impact this market positively in the near future.
The opportunity in the global market for antiviral drugs was worth US$48.3 bn in 2015. Researchers anticipate it to increase to US$82.9 bn by 2024, rising at a CAGR of 6.40% between 2016 and 2024.
North America to Continue as Market Leader
Among all the regional markets for antiviral drugs, namely, Asia pacific, North America, Latin America, the Middle East and Africa, and Europe, the leading position has been acquired by North America. With a share of more than 50%, the North America market for antiviral drugs stood strong in 2015 and is expected to remain dominant over the next few years. The increasing pool of patients suffering from viral infections and the high cost of new drugs are likely to boost this regional market remarkably over the years to come.
Europe stood second in the global market for antiviral drugs in 2015. Analysts predict this regional market will retain its position in the coming years, thanks to the large number of patients undergoing antiretroviral treatments, fueled by the increasing preference for novel drugs among consumers. The rising level of awareness, better diagnostic facilities, continued launches of effective drugs, and the presence of favorable reimbursement policies for the high-cost treatments are also expected to drive the Europe market for antiviral drugs over the next few years.
Among other regional antiviral drugs markets, Asia Pacific, followed by the Middle East and Africa, is anticipated to present most promising opportunities for the growth of this market. The key factors attributed for this are the soaring prevalence of HIV/AIDS and hepatitis, high-paced spreading of various infectious viral diseases, such as influenza, and the increasing preference for better healthcare facilities. The rising penetration of drugs for novel viral infections, such as Ebola and Zika, together with improved as well as affordable second version drugs, is anticipated to drive both the markets, i.e., Asia Pacific and the Middle East and Africa, over the forthcoming years.
Demand for Antiviral Drugs to Remain High from HIV Infection Segment
Antiviral drugs are mainly utilized in the treatment of hepatitis virus infection, HIV infection, and respiratory virus infection. With the alarming rise in the reports of HIV infection, the demand for antiviral drugs from this segment has been higher than others. Thanks to the invention of new drugs for HIV, which convert fatal illness into chronic pathology thereby increasing the lifespan of the patient, favorable reimbursement policies, and the availability of affordable drugs in emerging countries, the segment is likely to remain driving high demand for these drugs over the years to come.
Teva Pharmaceutical Industries Ltd., Mylan N.V., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline Plc, Gilead Sciences Inc., F. Hoffmann-La Roche Ltd., Cipla Inc., Bristol-Myers Squibb Co., and AbbVie Inc. are some of the leading antiviral drug makers across the world.
Global Antiviral Drugs Market: Overview
In past 30 years, significant progress is seen in antiviral drugs market, mainly in case of the drugs that target the entry and escaping mechanisms of viruses, with an aim of improving the quality of patient’s life by introducing broad spectrum of combination therapy drugs. Viruses rely on host’s machinery for replication as well as metabolic activities, thus antiviral agents target these mechanisms by several inhibitor classes such as Nucleoside Reverse Transcriptase Inhibitors (NRTIs), Non-nucleoside Reverse Transcriptase Inhibitors (NNRTIs), Fusion Inhibitors (FIs), Entry Inhibitors - CCR5 co-receptor antagonist, Protease Inhibitors (PIs), HIV Integrase strand transfer inhibitors, among others.
Demand for new and improved targeted therapies for viral diseases continues to rise, primarily due to invention of broad spectrum antiviral drugs. Introduction of combinational drug therapies with improved pharmacokinetic and pharmacodynamics properties, and focus on emerging regions for market penetration by creating awareness along with availability of affordable drugs are major opportunities for the global antiviral drugs market.
The market overview section of the report comprises qualitative analysis of the overall antiviral drugs market considering the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s five force analysis and market attractiveness analysis. In addition, such as market opportunity analysis for the disease indications, product type, and distribution channels, and key industry developments has also been provided. Key industry developments include the major events occurred in past decade and are expected to occur during the forecast period which are likely to affect the market dynamics. The prevalence HIV infection and HCV infection has also been provided, along with the FDA approvals and patent expiries of major drugs by each drug class. The pipeline analysis of major market players has been given in the market overview section.
Global Antiviral Drugs Market: Segmentation
The global antiviral drugs market has been segmented on the basis of disease indication, product type, and distribution channels. On the basis of disease indication, the global antiviral drugs market is categorized as hepatitis virus infection, HIV infection, Respiratory virus infection, and others. In terms of product type, the global antiviral drugs market is divided into branded drugs, and generic drugs. Furthermore, on the basis of distribution channels, the global antiviral drugs market has been classified as hospital pharmacy store, retail pharmacy store, and online pharmacy.
The market for these disease indication, product type, and distribution channels has been extensively analyzed on the basis of factors such as drug usage pattern, sales revenue, geographic presence and technological developments. The market size and forecast in terms of revenue (USD million) for each of these segments have been provided for the period 2014 to 2024, considering 2015 as the base year. The report also provides the compounded annual growth rate (CAGR) for each segment for the forecast period 2016 to 2024.
Geographically, the antiviral drugs market has been classified into five segments, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market size and forecast for each region has been provided for the period 2014 to 2024, in terms of disease indication, product type, and distribution channels, along with the CAGR (%) for the forecast period 2016 to 2024.
Global Antiviral Drugs Market: Competitive Analysis
The report also provides a section on the competitive landscape, wherein the market share analysis of leading players in the global antiviral drugs market, in terms of percentage share in 2016 (estimated) has been discussed. A list of recommendations has also been included for new entrants as well as existing market players to help them establish a strong presence in the market and increase their market share.
The report concludes with the profiles of major players in the global antiviral drugs market such as AbbVie, Inc., Bristol-Myers Squibb Company, Cipla Inc., F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., Mylan N.V., GlaxoSmithKline plc. Johnson & Johnson, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., among others. The major market players are evaluated on various parameters such as company overview, financial overview, product portfolio, business strategies and recent developments.
The global antiviral drugs market is segmented as follows:
By Disease Indication
- Hepatitis Virus Infection
- HIV Infection
- Respiratory Virus Infection
By Product Type
- Branded Drugs
- Generic Drugs
By Distribution Channels
- Hospital Pharmacy Store
- Retail Pharmacy Store
- Online Pharmacy
- North America
- Asia Pacific
- Latin America
- Middle East & Africa