New York, USA, Nov. 18, 2020 (GLOBE NEWSWIRE) -- As per a report published by Research Dive, the global antiviral therapies market is expected to generate $75.6 billion by 2026, exhibiting a CAGR of 5.8% from 2019 to 2026. The global market is segmented based on drug type, distribution channel, and region. The report offers complete insights on drivers, challenges, opportunities, restraints, and key players of the market.
As per the analysts, the increasing occurrence of viral infections and growing awareness among public regarding these infections are the major factors predicted to foster the growth of global antiviral therapies market over the forecast period. Moreover, increasing R&D investments and the rise in healthcare spending are likely to create huge growth opportunities for the global market in the near future.
However, the rising demand for alternative medicines and high costs involved in the production of antiviral drugs are expected to be the major barriers for the market growth.
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HIV Antiviral Drugs Segment to be Most Lucrative
By drug type, the HIV antiviral drugs segment is expected to witness a significant growth by growing at a CAGR of 5.4% from 2019 to 2026. This segment is predicted to be most lucrative during the forecast period, owing to the rising occurrence of HIV infections around the world and the increasing usage of antiviral drugs in African economies.
Online Pharmacy Segment to Grow at Increased Rate
By distribution channel, the online pharmacy segment is anticipated to grow at an increased speed by garnering a revenue of $23.2 billion by 2026. This is majorly due to the rising trend in the online shopping sector.
North America Region to Dominate the Industry
By region, the North America market for antiviral therapies is expected to hold a dominant position in the global market throughout the forecast period. The dominance of this region is majorly attributed to various factors such as rising elderly population, growing occurrence of HIV and hepatitis C infections, and the presence of key players of the market.
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Prominent Industry Players
The major players operating in the global antiviral therapies market include -
- F. Hoffmann-La Roche Ltd.
- Gilead Sciences
- AbbVie Inc.
- Abbott Laboratories
- GlaxoSmithKline
- Bristol-Myers-Squibb
- Johnson & Johnson
- AstraZeneca Plc.
- Merck & Co., Inc.
- Schering-Plough Corporation.
Further, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and many more. Quick Download Top Companies Development Strategies Summary Report
These players are increasingly focusing on technological advancements, geographical expansion, mergers & acquisitions, and new product launches to obtain a robust position in the global market. For instance, in June 2019, Cidara Therapeutics Inc. announced the new data from studies of CB-012, its Cloudbreak AVC (Antiviral Fc-Conjugate) candidate for influenza. CB-012 is generated by Cidara’s Cloudbreak, which is an anti-infective immunotherapy platform.
Related Links-
- Global Anti-Viral Therapies Market to Grow Significantly Owing to Mass Production and Easy Availability of Antiviral Drugs
- Antiviral Therapies to Gain Importance as a Potential Treatment to Help Fight COVID-19 Disease