Rising prevalence of viral diseases and increasing preference for branded medicines with higher success rate are driving oral antivirals market
Rising prevalence of viral diseases and increasing preference for branded medicines with higher success rate are driving oral antivirals market
Fact.MR’s ongoing research study on global oral antiviral market has identified the rising burden of chronic diseases, preference towards branded medicines, and initiatives from government organization crucial for development of novel formulations in the oral antivirals market. Increasing cases of viral diseases such as human immunodeficiency virus (HIV), hepatitis, and coronavirus have accelerated the demand of oral antivirals.
According to Fact.MR, key players are actively focusing on novel drug development for HIV to improve the drug effects on the patients suffering from HIV. Increasing research and development (R&D) activities for the improvement of nucleoside reverse transcriptase inhibitors drugs such as zidovudine, iamivudine and more has improved the demand of oral antivirals. According to the study of World Health Organization, in 2020, around 38 million people across the globe were recorded with HIV and among those 1.8 million were children. Acknowledging this burden, healthcare professionals have increased the R&D activities for the drug development.
“Growing population with viral chronic diseases such as HIV, hepatitis, and coronavirus have compelled the key players to increase the R&D activities for drug improvement and clinical trials, generating lucrative opportunities in the market,” says the Fact.MR analyst.
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Key Takeaways
- Growing shift towards branded medicine is expected to gain popularity in oral antivirals market
- Hepatitis segment is anticipated to account for the highest market share owing to rising prevalence of hepatitis disease across the globe
- India and China are expected to be one of the most lucrative segment owing to the increasing research & development activities across the region
- United States is anticipated to lead the North America’s oral antivirals market through 2021
- Advanced healthcare infrastructure across UK is expected to provide lucrative opportunities for key players
Prominent Drivers
- Rising prevalence of chronic disease and growing biologics market is likely to drive the market growth
- Growing demand of biosimilars for the treatment of chronic diseases that are of life-threatening nature will improve the demand
Key Restraints
- Lack of knowledge and efficacy due to the first-pass metabolism is expected to impede the demand of oral antivirals
- Side-effects such as nausea, vomiting, and other side effects is likely to hamper the demand of oral antivirals
Discover more about the oral antivirals market with figures, data tables and the table of contents.
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Competitive Landscape
Novartis AG, Abbvie Inc., GlaxoSmithKline, Merck & Co. Inc., Bristol-Myers Squibb Company, Mylan N.V., Gilead Sciences Inc., Janssen Pharmaceuticals Inc., Appili Therapeutics, Boston Biotech Atea Pharmaceuticals among others are some of the prominent players listed by Fact.MR operating in oral antivirals market. Leading players are adopting organic & inorganic strategies such as investing in research and development activities, new product launches, and strategic mergers & collaborations to maintain their position in the industry.
For instance, Pfizer Inc., on 23rd March 2021, announced the initiation of PHASE 1 study of novel oral antiviral therapeutic agent against SARS-COV 2.
Also, in October 2020, Roche and Atea Pharmaceuticals Inc., announced their collaborations to develop a potential oral treatment for COVID-19 patients. The companies have formed strategic partnerships to jointly develop AT-527, an orally administered direct-acting antiviral (DAA) in Phase-2 clinical trials.
Furthermore, in July 2020, Glenmark Pharmaceuticals, a research-led, announced the commencement of post marketing surveillance study on FabiFlu® to closely monitor the safety of drug prescribed with oral antiviral.
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More Insights on the Oral Antivirals Market
Fact.MR has published a recent report on global oral antivirals market for the upcoming decade. In its latest report, Fact.MR provides a detailed analysis on its ongoing and upcoming trends, opportunities, developments and challenges that the market is expected to witness through 2021 and beyond. To understand the market scenario, its scope and potential, the market is segmented on the basis of type (generic and branded), drug class (nucleoside reverse transcriptase inhibitors (NRTI), neuraminidase inhibitor, nucleoside analogues of guanine, nucleoside analogues of thymidine, protease inhibitors, combination drugs, and others), indication (influenza, hepatitis, human immunodeficiency virus, coronavirus, and others), distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies) across major regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa and the rest of the world).
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Source: Fact.MR