The fight against viruses is getting a boost! The Antiviral Drugs Market is expected to experience significant growth in the coming decade, with a projected Compound Annual Growth Rate (CAGR) of 3.9% between 2023 and 2033. That’s according to Future Market Insights (FMI), a leading market research firm. In simpler terms, the market is anticipated to balloon from an estimated US$61.42 billion in 2023 to a staggering US$89.68 billion by 2033. This substantial growth reflects the rising need for effective antiviral medications to combat a wide range of viral diseases.
Antiviral medications function similarly to antibiotics, with the special purpose of addressing a variety of viral illnesses. Antiviral medications do not directly eradicate viruses, in contrast to antibiotics, which target bacteria. Rather, they are essential in impeding the reproduction and dissemination of certain viruses.
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Driving Factors of the Global Antiviral Drugs Industry:
- The increasing spread of viral diseases and the growing geriatric population with weak immune systems contribute to the market’s growth. Furthermore, health-aware people and the higher availability of antiviral drugs through government-backed health institutions are increasing the sales of antiviral drugs.
- The high-end research and development activities, along with the new pharma companies entering the market, are gaining traction. The enhanced infection blocking, spread prevention, and lower side effects medicines are likely to expand the market size.
- The frequent viral fevers and illnesses weaken the immune system, which further welcomes new infections and lifestyle-based chronic diseases. Thus, the application of antiviral drugs becomes important.
- The tendencies of anti-viral medicines also lower the risk of herpes and HIV infections. The growing population and pollution are causing new infections and viruses like COVID-19 and other versions of H3N2.
- The common usage of antiviral drugs for flu, viral fever, and any virus-based infection is increasing its use. Also, the government-based generic medicines at lower costs in the health welfare schemes are increasing the sales of antiviral drugs.
Key Points from The Antiviral Drugs Market:
- The United States market leads the North American antiviral drugs market in terms of market share. The United States held a market share of 7.1% in 2022. The factors attributed to the sales of antiviral drugs in the country are the increasing penetration of flu and viral infections, higher availability of generic medicines, and healthcare coverage programs through the government. The North American market held a market share of 38.7% in 2022.
- The German antiviral drugs market held a market share of 7.1% in 2022. The market growth is caused by welfare schemes, higher drug manufacturing facilities, and increased foreign investments. The European market held a market share of 24.9% in 2022.
- The Indian market thrives at a CAGR of 3.8% between 2023 and 2033. The growth is attributed to India being the pharmacy hub and producing a higher amount of drugs through smooth testing, approvals, and sales.
- The Chinese market also thrives at a CAGR of 4.7% during the forecast period.
- Based on the application type, HIV leads the market as it held a market share of 44.0% in 2022.
- Based on the end-user type, the hospital segment leads the market, as it held a market share of 47.80% in 2022
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Prominent Players of the Antiviral Drugs Market
The key vendors focus on higher availability, better coverage, and lower side effects of the drugs. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
- Roche
- Gilead
- GlaxoSmithKline
- Bristol-Myers-Squibb
- Abbott
- AstraZeneca
- Cipla
- Bayer AG
- Johnson & Johnson
- Merck & Co
- AbbVie
- Aurobindo Pharma
- Reddy’s Laboratories Ltd.
Recent Market Developments of the Antiviral Drugs Market:
- Abbott has finalized to upgrade of 75 primary health centers (PHCs) across nine states in India/ The company is expected to invest around US$ 200 million while making antiviral drugs accessible to the common masses.
- Aurobindo Pharma has introduced its COVID-19 drug Molnupiravir in India. It is the generic version of Merck’s antiviral covid-19 pill.
- Cipla Limited and Genes2Me Pvt. Ltd. announced in May 2022 that the ‘RT-Direct’ multiplex COVID-19 RT PCR Test kit would be made available for purchase in India. Cipla is expanding its diagnostics offering to introduce more cutting-edge and cutting-edge solutions to the market.
- Abbott and the Food and Drug Administration came to an agreement on Monday for the company to reopen its Michigan manufacturing facility in May 2022, which will help ease a national baby formula shortage after the facility was shut down due to bacterial contamination.
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Key Segments Covered in the Antiviral Drugs Market Research:
By Product type:
- Hepatitis-C antivirals
- HIV antivirals
- Herpes antivirals
- Hepatitis-B antivirals
- Influenza antivirals
- Others (Pneumonia, Flu, etc.)
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
Key Regions Covered:
- North America
-
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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