New York, March 09, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Anti-Viral Therapies Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Generic Drugs and Branded Drugs), Mechanism of Action (Nucleotide Polymerase Inhibitor, Reverse Transcriptase Inhibitors, Protease Inhibitors, and Others), and Application (HIV, Hepatitis, Virus Influenza, Herpes, and Other Applications)” the global anti-viral therapies market size is driven by growing prevalence of viral diseases, increasing R&D expenditures in pharmaceutical companies and rising government support for research activities & clinical trials.
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Global Anti-Viral Therapies Market – Report Scope:
| Market Size Value in | USD 47.22 Billion in 2021 |
| Market Size Value by | USD 82.92 Billion by 2028 |
| Growth rate | CAGR of 8.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 170 |
| Historical data available | Yes |
| Segments covered | Type, Mechanism of Action and Application |
Global Anti-Viral Therapies Market: Competitive Landscape and Key Developments
The anti-viral therapies market includes many small- and large-sized companies. Many players are adopting various strategies to increase their market shares; these include new product launches, regional expansion, and technological advancements.
AbbVie Inc.; Abbott; F. Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; Johnson & Johnson Services, Inc.; Merck & Co., Inc.; Gilead Sciences, Inc.; GlaxoSmithKline plc; and Aurobindo Pharma Limited are among the leading companies operating in the global anti-viral therapies market. The companies adopt product innovation strategies to meet the rising customer demands, allowing them to maintain their brand presence in the global anti-viral therapies market.
A few of the recent developments by the players operating in the anti-viral therapies market are mentioned below:
In July 2020, Merck & Co. announced its plan to begin two large clinical trials of an experimental oral anti-viral therapy, MK-4482, for COVID-19 in September. Further, human trials for these experimental shots are expected to be performed by the company 2020.
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In February 2020, Abbott introduced a new inactivated quadrivalent vaccine for influenza. This new vaccine is the first of its kind sub-unit vaccine delivering protection against four virus strains in India. It is the only 0.5 ml quadrivalent flu vaccine in India that has been approved for usage in children below three years.
In January 2020, Johnson & Johnson launched a multi-pronged response to COVID-19. As part of this initiative, J&J has initiated efforts for developing a vaccine candidate against SARS-CoV-2 and largely joined forces with others to screen a library of anti-viral therapies. Identifying compounds with anti-viral activity against SARS-CoV-2 is expected to contribute to delivering immediate relief to the COVID-19 outbreak.
In December 2019, GSK announced that it had submitted a new drug application, fostemsavir, to the FDA for approval of investigational HIV treatment. Fostemsavir is developed for usage in combination with other antiretroviral agents in adults who have taken treatments for HIV and have developed resistance to the drugs.
The National Medical Products Administration of China has approved the anti-viral drug Favilavir to treat COVID-19 patients. Additionally, Bharat Biotech, a biotechnology company headquartered in India, has secured regulatory approval from the Drug Controller General of India (DCGI) to advance its COVID-19 vaccine candidate, Covaxin, into human clinical trials. Glenmark Pharmaceuticals, headquartered in Mumbai, India, received regulatory approval for the production and marketing of the anti-viral drug Favipiravir under its brand name FabiFlu to treat mild to moderate COVID-19 patients. Moreover, in June 2020, Cipla Ltd, headquartered in Mumbai, India, announced the launch of its generic version of antiviral drug Remdesivir for emergency use in treating Covid-19 patients. The new drug will be sold under the brand name Cipremi.
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Growing Emphasis on Launching Anti-viral Agents Boosts Global Anti-Viral Therapies Market Growth:
Increasing prevalence of chronic viral infectious diseases, such as hepatitis (caused by HCV), AIDS (human immunodeficiency virus), and virus influenza; and emergence and re-emergence of viral infections, such as COVID-19 and several diseases caused by picornaviruses have boosted the demand for novel anti-viral therapeutic strategies. The molecular mechanisms of viral infections have provided a huge potential for the development of new anti-viral drugs or agents that target viral proteins or host factors. Anti-viral therapies or agents are used as a single medication or in a drug combo to control the spread of viral diseases. In addition, in 2019, the US FDA approved Ervebo, vaccine for prevention of Ebola virus disease. Moreover, Regeneron Pharmaceuticals, Inc. received an Orphan Drug designation for its Inmazeb drug (atoltivimab, maftivimab, and odesivimab-ebgn) for the treatment of Ebola virus infection. Increasing focus on developing anti-viral agents to cure viral diseases would help boost the market growth in the coming years. In March 2020, the WHO announced a global mega trial called SOLIDARITY, which is the most promising treatment for COVID-19. In May 2020, Rapid Nutrition plc, an Australia-based company, launched a new oral anti-viral treatment—Azurene—to fight against influenza and the common cold. Moreover in October 2018, Shionogi & Co., Ltd. has received FDA approval for its Xofluza (baloxavir marboxil) for the treatment of acute uncomplicated influenza (flu) in patients with 12 years of age and older.
Additionally, Atriva Therapeutics GmbH, a biopharmaceutical company has developed ATR-002 for the treatment of patients with COVID-19 in Phase II Study to block viral propagation of SARS-CoV-2.
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