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NEWS RELEASE
Global Antiviral Drugs Market Report to 2030 - Rising Public Awareness Regarding Usage of Antiviral Therapeutics is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)-- November 07, 2022- The "Antiviral Drugs Market, By Drug Type, By Application, By Mechanism of Action, By Distribution Channel, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global antiviral drugs market size is expected to reach USD 50.02 Billion in 2030 and register a revenue CAGR of 3.4% during the forecast period, according to latest report.
The antiviral drugs market is growing on account of the continued prevalence of viral diseases and infections globally. According to the World Health Organization (WHO), it is estimated that every year, 16% of the world population suffers from one or more viral diseases.
However, the high cost of antiviral drugs is expected to hamper market growth in the near future. According to a report by the World Health Organization (WHO), the cost of one year's treatment for hepatitis C can range from USD 300 to USD 1,000 in low- and middle-income countries. Moreover, the cost of new antiviral drugs for treating hepatitis C can be as high as USD 100,000 per patient in some cases. Such high costs are expected to limit market growth in the coming years.
Some Key Highlights in the Report
- By disease type, the market is bifurcated into hepatitis B, influenza, hepatitis C, human immunodeficiency virus (HIV), and others. The hepatitis B segment is projected to register the highest CAGR of 4.8% during the forecast period. According to the World Health Organization (WHO), in 2015, an estimated 257 million people were living with chronic hepatitis B worldwide. Moreover, according to WHO data, in 2016, an estimated 887,000 people died from hepatitis B, making it one of the leading causes of death globally.
- On the basis of drug type, the market is divided into nucleoside reverse transcriptase inhibitors (NRTIs), non-nucleoside reverse transcriptase inhibitors (NNRTIs), protease inhibitors (PIs), entry inhibitors, and others. The NRTIs segment is expected to register the highest CAGR of 4.6% during the forecast period. NRTIs are a class of drugs that work by inhibiting reverse transcriptase, an enzyme responsible for replication of retroviruses such as HIV-1.
- By treatment type, the market is classified into combination therapy and single therapy. The combination therapy segment is expected to register the highest CAGR of 4.4% during the forecast period. The segment is growing on account of the efficacy of combination therapy in treating viral infections. According to a study published in the journal AIDS, combination therapy is more effective than single-drug therapy in treating HIV infection.
- By route of administration, the market is categorized into oral and parenteral. The oral segment is expected to register the highest CAGR of 4.2% during the forecast period. The segment is growing on account of the convenience and ease of administration associated with oral drugs.
- By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to hold the largest market share of 37.1% by 2023. The region is anticipated to witness significant growth on account of the high prevalence of viral diseases and the availability of advanced healthcare facilities in the region. According to the Centers for Disease Control and Prevention (CDC), in 2015, an estimated 3.2 million people in the U.S. were living with chronic hepatitis C.
Market Dynamics
Drivers
- Rising frequency of Influenza & other viral respiratory infections
- Introduction of latest and more advanced drug formulations
- Rise in public awareness regarding usage of antiviral therapeutics
Restraints
- Increase in cost & demand for in-depth Research and Development (R&D) activities in the area of drug discovery & development
- Rise in demand for broad-spectrum, cost-effective & accessible options for antiviral drugs
- Increase in precautionary measures, personal protection, and awareness about vaccine availability
Companies Mentioned
- AbbVie Inc.
- GlaxoSmithKline plc.
- Gilead Sciences Inc.
- Merck & Co.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Bristol-Myers Squibb Company
- Johnson & Johnson Services Inc.
- Pfizer Inc.
- Dr. Reddy's Laboratories Ltd.
For the purpose of this report, the author has segmented the global antiviral drugs market based on drug type, application, mechanism of action, distribution channel, and region:
Drug Type Outlook (Revenue, USD Billion; 2019-2030)
- Generic Drugs
- Branded Drugs
Application Outlook (Revenue, USD Billion; 2019-2030)
- Influenza
- Hepatitis A, B & C
- Human Immunodeficiency Virus (HIV)
- Herpes
- Respiratory Syncytial Virus (RSV)
- Human Coronaviruses (HCoV)
- Others
Mechanism of Action Outlook (Revenue, USD Billion; 2019-2030)
- Protease Inhibitors
- DNA Polymerase Inhibitors
- Reverse Transcriptase Inhibitors
- Neuraminidase Inhibitors
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Hospital Pharmacy Services
- Online Pharmacy Services
- Retail Pharmacy Services
Regional Outlook (Revenue, USD Billion; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/75tnad
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Source: https://www.businesswire.com/news/home/20221107005713/en/Global-Antiviral-Drugs-Market-Report-to-2030---Rising-Public-Awareness-Regarding-Usage-of-Antiviral-Therapeutics-is-Driving-Growth---ResearchAndMarkets.com
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