SEATTLE, Feb. 16, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global antiviral drugs market is estimated to be valued at US$ 56,480.7 million in 2021 and is expected to exhibit a CAGR of 4.2% over the forecast period (2021-2028).
Key Trends and Analysis of the Global Antiviral Drugs Market:
Increasing number pipeline product is expected to offer a lucrative opportunity for the market players to launch their novel products in the market.
For instance, ViiV Healthcare, a pharmaceutical company specializing in the development of therapies for HIV infection, developing Cabotegravir/rilpivirine (long-acting injectable), which is currently under Phase III and are types of NNRTI/ INSTI drug class. Furthermore, Gilead Sciences, a biopharmaceutical company is developing GS-6207 (capsid inhibitor) and vesatolimod (TLR-7 agonist), which are currently under Phase I trial for the treatment of human immunodeficiency virus (HIV).
Increasing launches and approval of antiviral drug is expected to drive the market growth during the forecast period. For instance, in May 2021, Bal Pharma a Pharmaceutical Compan has launched antiviral drug Favipiravir for the treatment of patients with mild to moderate COVID-19 in India.
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For instance, in April 2021, Natco Pharma Limited, a pharmaceutical company had applied to the Central Drugs Standard Control Organisation (CDSCO) for approval of phase-3 clinical trial of coronavirus antiviral drug Molnupiravir capsules for the treatment of COVID-19 patients.
Key Market Takeaways:
The global antiviral drugs market is expected to exhibit a CAGR of 4.2% over the forecast period, owing to increasing prevalence of Influenza. Influenza is a contagious respiratory infection caused due to influenza virus. Influenza is marked by fever, cough, muscles and joint pain, headache, and severe weakness. Illness due to influenza ranges from mild to severe, occasionally leading to death. According to World Health Organization (WHO), 2018, influenza cases related hospitalization ranges in 3-5 million cases for severe illness, whereas deaths related to influenza are about 290,000 to 650,000 globally.
Moreover, increasing product launches is expected to drive the market growth over the forecast period. For instance, in July 2019, Dr. Reddy's Laboratories Limited a pharmaceutical company has announced the launch of antiviral drug Avigan (favipiravir) tablets, which is currently being manufactured by innovator Japanese drug giant Fujifilm Toyama Chemical Co, for the potential treatment of mild to moderate Covid-19 patients in India.
Competitive Landscape:
Key players operating in the global antiviral drugs market include GlaxoSmithKline plc, AbbVie Inc., Merck & Co., Inc., Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Cipla Inc., Aurobindo Pharma, and Gilead Sciences.
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Market Segmentation:
- Global Antiviral Drugs Market, By Drug Class:
- DNA Polymerase Inhibitors
- Reverse Transcriptase Inhibitors
- Protease Inhibitors
- Neuraminidase Inhibitors
- Others
- Global Antiviral Drugs Market, By Type:
- Branded
- Generics
- Global Antiviral Drugs Market, By Application:
- HIV
- Hepatitis
- Herpes
- Influenza
- Others
- Global Antiviral Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Global Antiviral Drugs Market, By Region:
- North America
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- By Country
- U.S.
- Canada
- By Country
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- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- Latin America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
