The demand within the global market for antiviral drugs has been rising on account of the growing reliance of the masses on medical treatments. A few decades back, a large population of people resorted to home remedies to cure infections and diseases which kept medication at bay. However, advancements in medical sciences and the availability of effective drugs have shifted the focus of the masses from traditional treatments to medical drugs. Owing to the aforementioned propensity, the demand within the global market for antiviral drugs is projected to reach new heights in the years to come. Furthermore, viral fever is amongst the most common forms of infection that affect the global populace, and this factor is also anticipated to reek of growth in the global market. Furthermore, the growth of the number of vendors who manufacture antiviral drugs has given a wide range of options to the masses.
Transparency Market Research (TMR), in this, preview, elucidates a number of factors that have propelled demand within the global market for antiviral drugs. The global market for antiviral drugs is projected to expand at a CAGR of 6.40% over 2016 and 2024. Furthermore, the total value of the global market for antiviral drugs is expected to touch US$82.9 bn by 2024-end.
Rising Incidence of Cancer to Propel Demand
Viral infections can occur as a side-effect of several other severe diseases such as cancer, diabetes, HIV, and respiratory diseases. Owing to the rising incidence of the aforementioned diseases, the demand within the global market for antiviral drugs has been rising at a robust rate in recent times. Moreover, the presence of an immaculate and resilient healthcare industry across several regional pockets has also aided the growth of the global market for antiviral drugs.The demand within the global market for antiviral drugs has been rising on account of the trust shown by masses towards antiviral drugs in curing infections. Furthermore, a number of medical professionals have begun prescribing antiviral drugs to patients which has also enhanced the growth prospects of the global market. As research and development to manufacture better antiviral drugs gathers swing, the global market is expected to expand at a boisterous rate.
New Antiviral Drugs come to the Fore in the US
The demand within the global market for antiviral drugs has also been rising on account of new approvals by the Food and Drug Administration in the US. The FDA lately approved baloxavir marboxil as an effective drug for the treatment of viral infections. This approval has come as the first flu treatment mechanism for antiviral infections by FDA in 20 years. It is projected that the efforts of the healthcare professionals and organisations to educate people about antiviral drugs would aid the growth of the market for antiviral drugs in North America. The healthcare industry has become extremely focused on ensuring safety of patients, and this is another reason behind the growth of the regional market for antiviral drugs market.
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