Rising incidence of influenza, respiratory syncytial virus activity, and other viral respiratory infections is a key factor driving market revenue growth.
Rising incidence of influenza, respiratory syncytial virus activity, and other viral respiratory infections is a key factor driving market revenue growth
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 by Reports and Data. Increasing number of patients infected by influenza and other viral respiratory infections, especially during the COVID-19 pandemic, is driving market revenue growth. Many factors are contributing to this rapid spread of viral infectious diseases, including increasing human mobility, rise in trade and tourism, and shifting geographic distribution of disease vectors.
Human travel and migration, in particular, is a major driving force behind the global spread of viral infections. Changing environmental conditions, due to abrupt climate change, is also contributing to widespread viral infections, and this is resulting in development of novel antiviral medications, which is supporting market revenue growth. However, high costs of Research & Development (R&D) in the area of drug development is limiting market revenue growth. Furthermore, rising healthcare costs and preventive measures against viral infections are also expected to hinder revenue growth of the market during the forecast period.
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Some Key Highlights in the Report
- On 14th March 2022, Open Philanthropy, Bill and Melinda Gates Foundation, and Novo Nordisk announced a USD 90 million initial investment in the Pandemic Antiviral Discovery (PAD) project, which will expedite antiviral drug discovery and development of medications for prevention of future potential pandemics. These core partners are engaged in making PAD-supported product innovations and discoveries available to people in developing countries. Many collaborations and partnerships between governments and private firms are taking place, which is increasing pioneering research on high-tech technologies that can drive revenue growth of this industry.
- Generic drugs segment revenue is expected to register a steady growth rate during the forecast period. Generic drugs are less expensive, as their manufacturing costs do not include marketing costs, unlike their brand-name equivalents. They are safe and effective, providing the same quality and functionality as branded drugs, and they are also easily accessible and more affordable to a wider range of people. These factors are contributing to revenue growth of this segment.
- Online pharmacy services segment revenue is expected to register a fast growth rate during the forecast period, as people, constrained by lockdowns, are more interested in home-delivery and cost-effective options with greater ease and availability of medicines. These online services also have a better range of options, which is driving revenue growth of this segment.
- Human Coronaviruses (HCoV) segment accounted for a significantly large revenue share in 2021, due to rising cases of viral infections across the globe. According to the World Health Organization (WHO) report published on September 1st, 2021, there had been 217.56 million confirmed cases of COVID-19, with 4.52 million deaths reported. This viral disease possesses a greater risk of causing future pandemics, due to its high infectivity and transmission rates, and higher viral load. This is increasing demand for antiviral drugs for treatment of such diseases.
- Antiviral drugs market in Asia-Pacific accounted for a significantly large revenue share in 2021, due to increasing public awareness about antiviral medications through healthcare programs and government policies, which is helping in improving the healthcare sector in the region. Presence of several major pharmaceutical companies in growing economies, such as India and China, is also supporting market revenue growth in the region.
- Some major companies operating in the global market report include GlaxoSmithKline plc., Gilead Sciences, Inc., Merck & Co., Novartis AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson Services, Inc., AbbVie, Inc., Bristol-Myers Squibb Company, Pfizer Inc., and Dr. Reddy’s Laboratories Ltd.
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For the purpose of this report, Reports and Data 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
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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
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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