Peramivir Drugs Market: Increase in prevalence of influenza is anticipated to drive the market
Peramivir Drugs Market: Introduction
- Peramivir is crystalline hygroscopic powder, soluble in deionized water, and it is synthesized in multiple step process using SM1, SM2, and SM3 as a starting material. Peramivir drugs are classified under the antiviral category. It is neuraminidase inhibitor. Cyclopentane analogue peramivir binds to the active site of the influenza virus neuraminidase and inhibits its activity of strains of influenza A and B viruses. The use of peramivir helps reduce the symptoms of flu including sore throat, cough, headache, joint aches, and fever. The FDA approved peramivir for the treatment of influenza infection in adults in 2014. Moreover, it has been approved and available in Japan and South Korea as a Rapiacta and Peramiflu, respectively.
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Key Drivers, Restrain and Opportunities of Global Peramivir Drugs Market
- Peramivir is a promising treatment for influenza. Thus, an increase in prevalence of influenza is anticipated to drive the market. For instance, since 2010 in the U.S., flu has resulted in 9.3 million to 49 million illnesses each year. According to Center for Disease Control and Prevention, in the U.S., an estimated 140,000 to 810,000 hospitalizations were recorded in annually. An estimated 24,000-62,000 deaths were recorded in the U.S. during 2019-2020, due to influenza.
- The geriatric population is highly susceptible to influenza. Thus, an increase in geriatric population is anticipated to drive the market. For instance, an estimated 70% to 85% seasonal flu-related deaths occurred in people 65 years and older.
- However, the side-effects associated with peramivir include cloudy urine, fever, diarrhea, and dizziness. Therefore, side-effects associated with peramivir are likely to hamper the global market.
- Rise in prevalence and awareness about influenza and government initiatives are projected to offer lucrative opportunities in the global market. Moreover, key players to address the unmet needs and government initiatives to improve healthcare infrastructure are also estimated to provide significant opportunity in the market
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North America to Capture Major Share of Global Peramivir Drugs Market
- North America is expected to account for a major share of the global peramivir market due to high prevalence of influenza among the population. Moreover, well-established healthcare infrastructure is likely boost the market in the region.
- The peramivir market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to a rise in awareness about advanced therapeutics. Moreover, a surge in geriatric population is likely to drive the market
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Key Players Operating in Global Peramivir Drugs Market
The global peramivir market is highly concentrated due to the presence of key players. A large number of manufacturers hold a major share in their respective regions. Demand for peramivir products has increased in emerging as well as developed markets. Growth strategies adopted by leading players are likely to drive the global market. For instance, in September 2009, BioCryst Pharmaceuticals, Inc. announced that had signed a partnership agreement for peramivir for Influenza outside the U.S.
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Major players operating in the global peramivir market are:
- BioCryst Pharmaceuticals, Inc.
- Gilead Sciences, Inc.
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