Global Antiviral Drugs Market to Reach $44.2 Billion

Posted April 17, 2020 by saurabhj

Global Antiviral Drugs Market to Gain from Rising Government Initiatives to Manage Viral Infections

The global antiviral drugs market is set to gain impetus from the improvements in research collaborations of industry giants to develop state-of-the-art therapeutics. Besides, the increasing prevalence of viral diseases would impact the market positively. Fortune Business Insights™ published this information in a recent study, titled, “Antiviral Drugs Market Size, Share & Industry Analysis, By Drug Class (Protease Inhibitors, Polymerase Inhibitors, Integrase Inhibitors, Combination Drugs, Reverse Transcriptase Inhibitors, and Others), By Disease Indication (Hepatitis, Human Immunodeficiency Virus (HIV), Influenza, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Channel) and Regional Forecast, 2019-2026.” The study further mentions that the antiviral drugs market size is projected to reach USD 44.2 billion by 2026, thereby exhibiting a CAGR of 3.2% during the forecast period. However, it stood at USD 36.1 billion in 2018.
An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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High Demand for Targeted & Specific Treatment Regimen to Boost Growth
One of the most common forms of viral infection that is occurring across the world is HIV. The diagnosis rate of HIV is improving gradually owing to the refinement of surveillance by using biological and demographic data. The World Health Organization (WHO) stated that in the year 2018, approximately 37.9 million people were affected by HIV. However, around 770,000 people died of this disease. It proves that the rising cases of HIV is fueling the demand for specific and targeted treatment regimen. Apart from that, the rising prevalence of influenza and its efficient diagnosis are set to drive the antiviral drugs market growth in the coming years.

Study by FSU Aid in Battling HIV & Hepatitis B; Gilead Submits sNDA Application to FDA
Key enterprises present in the market are constantly striving to bring about new treatment options for the patients suffering from viral infections. They are aiming to gain the maximum antiviral drugsmarket share by bagging FDA approvals to broaden product portfolio. Educational institutions are also actively participating in conducting studies to discover new drugs. Below are two of the latest industry developments:
January 2020: The researchers of Florida State University (FSU) are set to open new doors for innovative treatment options for more than 36 million HIV-infected people across the globe. The new treatment options would also help treating the chronically ill patients with hepatitis B. For the first time, their work has established the mechanism accountable for how two antiviral drugs inhibit viruses.
April 2019: Gilead Sciences, Inc., a biotechnology company that researches, develops, and commercializes drugs, based in California, announced its submission of a supplemental New Drug Application (sNDA) to the FDA. It was done for its emtricitabine 200 mg and ten of oviralafenamide 25 mg tablets called Descovy for pre-exposure prophylaxis (PrEP) to prevent sexually transmitted HIV-1 infection in those who are at risk.

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Issued By saurabh
Country India
Categories Health
Tags Antiviral Drugs Market , Antiviral Drugs Market Size , Antiviral Drugs Market Industry
Last Updated April 17, 2020