Get the detailed impact analysis of COVID-19 that has disrupted the entire world and affected many industries.
Request InsightsThe global anti-viral drugs market is estimated to garner notable revenue by the end of 2031 by growing at a modest CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of ~USD 55.0 Billion in the year 2021. The growth of the market can primarily be attributed to the rising global occurrences of HIV infection. According to the World Health Organization (WHO), approximately 79.3 million people were suffering from the HIV virus and caused nearly 37.7 million deaths at the end of 2021.
Get more information on this report: Request Sample PDF
Anti-viral drugs are used to treat viral infections such as human immunodeficiency virus (HIV), hepatitis, herpes, coronavirus, and influenza. On the other hand, there are some side effects of anti-viral drugs such as appetite loss, diarrhoea, and fatigue on patients when used for medication. However, this cannot rule out the benefits provided by them to patients dealing with severe infections and viruses. The ongoing influenza flu cases are anticipated to propel the market growth during the forecast period. As per the statistics by the Centers for Disease Control and Prevention in 2021, in the U.S.A, total, 1,899 (0.2%) of 1,081,671 samples tested for influenza viruses tested positive (713 (7.5%) for influenza A and 1,186 (7.5%) for influenza B. In that same period, 61.4% of influenza positive samples originated from influenza A, and 38.6% originated from influenza B.
For instance in 2022, globally, nearly 3.7 billion people under the age of 50 (67%) are suffering from HSV-1 infection, whereas 491 million people aged between 15–49 (13%) have HSV-2 infection.
Every day more than 1 million cases of sexually transmitted infections (STIs) are reported globally.
The global anti-viral drugs market is segmented and analyzed for demand and supply by indication into hepatitis, herpes, HIV AIDS, influenza, coronavirus, and others. Out of these, the coronavirus segment is expected to grow at a rapid pace in the forecast period on the back of the globally increasing rate of the COVID-19 cases, which contributed to the enormous growth of this segment. The sudden outbreak of COVID-19 cases and the main focus of healthcare facilities on the treatment of COVID-19 patients has boosted the market growth of anti-viral drugs. As a result, various pharmaceutical companies have been focusing on new drug development for effective treatment and better recovery of COVID-19 patients. For instance, globally there are 568,773,510 confirmed cases of COVID-19 accounting for 6,381, 643 deaths on 26 July 2022.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global anti-viral drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of the rising spending by the pharmaceutical industry for research and development, ongoing clinical trials, and growing approvals for the drugs in the region. The United States pharmaceutical industry’s spending on research and development has increased from 17.4 per cent of the total revenues in 2010 to 21.4 per cent of the total revenues in 2020.
The anti-viral drugs market size in Europe is also estimated to gain notable growth over the forecast period, owing to the rise in the patient pool of various infectious diseases and growth in the healthcare infrastructure. As per the data released by the European Centre for Disease Prevention and Control, the rising outbreak of monkeypox cases has been affecting the United Kingdom (UK), the EU/EEA, Asia, the Americas, and Australia. Around 9,697 cases of monkeypox have been reported from 27 countries throughout the European region.
The global anti-viral drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global anti-viral drugs market includes the following segments:
Top Featured Companies Dominating the Global Anti-Viral Drugs Market
FREQUENTLY ASKED QUESTIONS
The growing prevalence of hepatitis B infection, increase in sexually transmitted infections, and growing occurrences of respiratory syncytical virus are some major factors driving the growth of the anti-viral drugs market.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 - 2031.
Increasing cases of prescription drug abuse, rising awareness about alternative treatments, and high cost of drugs used to treat viral infections, such as hepatitis are estimated to hamper the market growth.
The market in the North America region is anticipated to provide more business opportunities over the forecast period owing to the ongoing clinical trials, and growing approvals for the drugs in the region.
The major players in the market are GlaxoSmithKline plc, AbbVie Inc., Merck & Co., Inc., Johnson & Johnson Services, Inc., Cipla, Inc., Aurobindo Pharma Limited, Gilead Sciences, Bristol-Myers Squibb Company, F. Hoffmann-La Roche Ltd., Dr. Reddy's Laboratories Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
The global anti-viral drugs market is segmented by drug class, indication, age group, distribution channel, and by region.
The coronavirus segment is estimated to hold the largest market size in value over the forecast period and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2021 Research Nester. All Rights Reserved