Major players in the antivirals market are AbbVie Inc. , Bristol-Myers-Squibb, Cipla, F. Hoffmann-La Roche Ltd, Gilead Sciences Inc, GlaxoSmithKline, Johnson & Johnson, Merck & Co. , Inc. , Dr. Reddy’s Laboratories Ltd and AstraZeneca plc.
New York, June 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antivirals Global Market Report 2021: COVID 19 Implications And Growth to 2030" - https://www.reportlinker.com/p06090622/?utm_source=GNW
The global antivirals market is expected to decline from $62.62 billion in 2020 to $52.13 billion in 2021 at a compound annual growth rate (CAGR) of -16.8%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $67.66 billion in 2025 at a CAGR of 6.7%.
The antivirals market consists of sales of anti-viral drugs used for the treatment of viral infections, such as human immunodeficiency virus (HIV), hepatitis, influenza and novel coronavirus.Antiviral drugs do not kill their target pathogen, instead they inhibit the development of those viruses.
The antivirals establishments are primarily engaged in the manufacturing of DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others.
The demand for antivirals is anticipated to grow at a rapid pace due to the novel coronavirus outbreak.As there are no vaccines and potential treatments for Covid-19, companies are trying to repurpose existing drugs in the fight against the novel coronavirus.
The use of certain existing antivirals for the covid-19 treatment is contributing to the growth of antivirals market. However, if any of these drugs under trails show further promising results in treating the coronavirus infection, the antivirals market will see further growth.
The emergence of alternative therapies such as naturopathy and homeopathy for the treatment of viral infections is negatively affecting the market.The development of covid-19 antivirals involves high R&D costs.
The development of covid-19 antivirals involves high operating costs and requires a greater capital investment.Due to high R&D costs involved in drug development, there is growth in the demand for alternative medicines such as naturopathy and homeopathy.
Saikosaponins (A, B2, C, and D), which are naturally occurring triterpene glycosides isolated from medicinal plants such as Bupleurum spp., Heteromorpha spp., and Scrophularia scorodonia, exert antiviral activity against HCoV-22E9. Saikosaponins inhibits viral attachment and penetration stages. The marketed drugs would be priced much higher than the actual manufacturing costs. Hence using this naturopathy and homeopathy medicines can restrain the market growth.
In February 2020, GeoVax, a US-based pharmaceutical company, and BravoVax, a China-based pharmaceutical company, have announced plans to develop a coronavirus cure in the form of vaccine based on the former’s MVA-VLP vaccine platform.BravoVax will be responsible for testing and manufacturing the vaccine as well as coordinating with the public health and regulatory authorities in China.
GeoVax’s Modified Vaccinia Ankara platform enables enhanced expression and stable transgenes during the manufacturing process.Combined with immunogenicity of Virus Like Particles (VLPs), the technology enables the production of vaccines.
The collaboration between these two companies is to develop a coronavirus vaccine.
Increasing public-private funding for life science research globally is expected to drive the growth of antivirals market.Currently, there are no drugs or vaccines approved for treatment of Covid-19 disease, however, there are several vaccines and drugs in pipeline, and are yet to be approved or launched.
Governments around the world announced new grant funds for researchers in vaccines, treatment and diagnostics. In March 2020, the Canadian government announced $214.6 million for coronavirus research. Wellcome and the Gates Foundation announced they are joining forces with the credit card company MasterCard in a $125 million push to speed up development of drugs for treating COVID-19 infections. Hence increasing public-private funding for life science research will enhance the research and development which drive the growth of covid-19 antivirals market.
Companies in the antivirals market are continuously innovating through technological advancements to develop drugs to treat different viral infections.Biopharmaceutical companies are developing vaccines for the treatment of novel coronavirus.
Technological advances in the pharmaceutical sector include development of nucleic acid vaccines that are DNA- and RNA-based, and which enable the human body to produce vaccine antigen.In March 2020, Applied DNA Sciences’ subsidiary LineaRx and Takis Biotech formed a joint venture to develop a linear DNA vaccine as a treatment for coronavirus.
The JV will use Polymerase Chain Reaction (PCR)-based DNA manufacturing technology to develop the vaccine. Such initiatives and activities are projected to support market growth to a significant extent.
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