Antiviral Drugs Market Size to Reach USD 77.07 Billion in 2028 – Reports and Data
Rising incidences of HIV, ongoing research activities, and private and government investments on healthcare sector
The global antiviral drugs market size is expected to reach USD 77.07 Billion in 2028 and register a revenue CAGR of 4.6% over the forecast period, according to a latest report by Reports & Data. A major factor driving market revenue growth is increasing HIV cases globally. The World Health Organization (WHO) stated that in the year 2020, approximately 34.7 million people were affected by HIV.
Increasing investments in the field of antiviral drugs due to its numerous benefits is resulting in the advent of additional opportunities for further research in laboratories. Antiviral drugs help to diminish the duration of flu symptoms and is suggested for both treatment and prevention of flu. The drugs can also reduce the risk of complications such as respiratory complications requiring antibiotics, ear infections in children, and hospitalization in adults..
Ongoing research and development activities and private investments in the healthcare sector for the introduction of new and effective drugs is expected to positively impact revenue growth of the market over the forecast period.
In addition, rise in healthcare expenditure, increase in public awareness, rising incidences of viral infection are some key factors expected to continue to fuel market growth going ahead.
However, presence of vaccines for viral infections is a major factor restraining global antiviral drugs market revenue growth over the forecast period.
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Some Key Highlights from the Report:
- On the basis of type, the market report is segmented into branded, and generic. Among these, the branded segment accounted for largest revenue share in 2020 as consumer belief that branded medicines are safer for consumption. Moreover, the advertisement strategies plays a great role in building awareness of the branded products.
- On the basis of application, the market report is segmented into HIV, hepatitis, herpes simplex virus, influenza, others. Among these, the HIV segment is expected to register a significantly rapid revenue CAGR during the forecast period due to rising incidences of HIV infections across the globe.
- On the basis of mechanism of action, the market report is segmented into reverse transcriptase inhibitors, nucleotide polymerase inhibitors, protease inhibitors, and others. The reverse transcriptase inhibitors segment is expected to register largest revenue share over the forecast period as it is effective in minimizing or preventing viral infection.
- Asia Pacific antiviral drugs market is expected to register fastest revenue growth rate over the forecast period due to rising awareness regarding HIV through health care programs and government initiatives in the region to encourage the treatment of the disease. The presence of various key pharmaceutical companies in the emerging economics such as India and china drive region’s market growth.
- Revenue from North America antiviral drugs market is projected to account for a significantly larger revenue share and dominate other regional markets over the forecast period. This can be attributed to rapid technological advancements in the field of antiviral drugs, and continuous research activities in countries in the region.
- Some major players in the market research report include, Gilead Sciences, F. Hoffmann-La Roche AG, GlaxoSmithKline, Bristol-Myers-Squibb, AbbVie, Johnson & Johnson, Merck & Co., Aurobindo Pharma, Cipla, and Dr Reddy’s.
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Segments covered in the report:
For the purpose of this report, Reports & Data has segmented the global antiviral drugs market on the basis of type, application, mechanism of action and region:
Type Outlook (Revenue, USD Billion; 2018 – 2028)
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Herpes Simplex Virus
Mechanism Of Action Outlook (Revenue, USD Billion; 2018 – 2028)
- Reverse transcriptase inhibitors
- Nucleotide polymerase inhibitors
- Protease inhibitors
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Regional Outlook (Revenue, USD Billion; 2018 – 2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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