Dublin, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The "Antiviral Drugs - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global antiviral drugs market is forecasted to experience noteworthy growth, with a projected CAGR of 3.65% from 2024 to 2030. Analysts anticipate the market value to reach approximately USD 51.46 billion by the end of the decade. Key growth drivers include the heightened prevalence of viral infections including HIV, hepatitis, and influenza, alongside significant advancements in treatment efficacy. The industry anticipates a considerable demand escalation propelled by a growing geriatric population, strategic initiatives by healthcare entities, and a robust pipeline of promising drug candidates.
HIV Infection Statistics Underpin Market Expansion
Current epidemiological data underscores the need for continued innovation and access to antiviral drugs. With approximately 39 million people affected by HIV globally and new infections persisting, the imperativeness of effective antiviral regimes sustains market vitality. Enhanced treatment options, alongside increased awareness and accessibility, are forecasted to buttress the market across the forecast period.
Factors Influencing Antiviral Drug Market Trajectory
While market prospects appear favorable, challenges such as antiviral drug resistance and regulatory hurdles persist. Side effects associated with treatment also present concerns that may dampen market enthusiasm. Notwithstanding these barriers, significant developments in molecular biology and a pipeline replete with antiviral candidates herald a transformative era for the market.
Emerging Trends in Influenza Treatment
The influenza virus segment is anticipated to command a substantial market share through 2023, invigorated by the availability and elevated demand for antiviral remedies. The onset of the influenza season and an uptick in diagnostics contribute to the segment’s dominance. Approval for innovative vaccination formulations, including adjuvanted, cell-based vaccines, portends well for market enrichment.
North American Dominance in the Antiviral Drugs Landscape
North America is expected to maintain its market predominance due to the comprehensive demand for antiviral treatments, propelled by the proliferation of viral diseases and substantial patient populations grappling with HIV and hepatitis. With robust healthcare infrastructure and significant governmental support, North America affirms its status as a critical market hub, fueling advancements and access to antiviral medications.
A Glimpse at Market Pioneers
The antiviral drugs market landscape is shaped by formidable players, including but not limited to AbbVie Inc., Bristol-Myers Squibb Company, and Gilead Sciences, Inc. These industry stalwarts continue to foster market growth through innovative research, drug development, and strategic collaborations.
Anticipating Future Market Directions
Market growth for antiviral drugs looks robust as stakeholders navigate impediments and leverage opportunities. The collective efforts of market players and healthcare providers are instrumental in catalyzing market expansion and improving patient outcomes.
This press release serves to inform and update all interested parties on the current status and projection trends within the antiviral drugs market. It encapsulates the key factors, influences, and market dynamics that are shaping the industry's trajectory towards 2030.
A selection of companies mentioned in this report includes, but is not limited to:
- AbbVie Inc.
- Bristol-Myers Squibb Company
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche Ltd
- Pfizer Inc.
- Cipla Inc.
- Lupin.
- ENTOD INTERNATIONAL
- AstraZeneca
- Dr. Reddy’s Laboratories Ltd.
- GSK plc.
- Johnson & Johnson
- Merck & Co., Inc.
- Novartis AG
- Sanofi
- ViiV Healthcare
- Aurobindo Pharma
- Sun Pharmaceutical Industries Ltd.
- Viatris Inc.
- Boehringer Ingelheim
For more information about this report visit https://www.researchandmarkets.com/r/rlkgdu
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