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Antivirals Global Market Report 2023
Major players in the anti-viral drug therapy market are AbbVie Inc., Bristol-Myers-Squibb, Cipla, F. Hoffmann-La Roche Ltd, Gilead Sciences Inc, GlaxoSmithKline, Johnson & Johnson, Merck & Co., Inc., Dr.
New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Antivirals Global Market Report 2023" - https://www.reportlinker.com/p06245008/?utm_source=GNW
Reddy’s Laboratories Ltd, AstraZeneca plc., Aurobindo Pharma, Abbott Laboratories, Schering-Plough Corporation, Pfizer Inc., Sanofi, Regeneron Pharmaceuticals, Inc.,, Inovio Pharmaceuticals, Inc., Novavax, Inc., and BioCryst Pharmaceuticals, Inc.
The global antivirals market will grow from $97.14 billion in 2022 to $107.84 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The antivirals market is expected to grow to $156.99 billion in 2027 at a CAGR of 9.8%.
The anti-viral drug therapy market consists of sales of amantadine and rimantadine.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anti-viral drug therapy refers to drugs that are 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 anti-viral drug establishments are primarily engaged in the manufacturing of DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others
North America was the largest region in the anti-viral drug therapy market in 2022.Middle East is expected to be the fargest growing region in the forecast period.
The regions covered in the anti-viral drug therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of anti-viral drug therapy are branded and generic.The various drug class involved are DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others that are used for HIV, hepatitis, herpes, influenza, and others.
Reverse-transcriptase inhibitors (RTIs) are a type of antiretroviral medication used to treat HIV infection or AIDS, as well as hepatitis B in some cases.
The demand for anti-viral drugs 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 anti-viral drugs for the COVID-19 treatment is contributing to the growth of the anti-viral drugs market. However, if any of these drugs under trial show further promising results in treating the coronavirus infection, the anti-viral market will see further growth.
Increasing public-private funding for life science research globally is expected to drive the growth of the anti-viral drug therapy market.Currently, there are no drugs or vaccines approved for the treatment of COVID-19 disease, however, there are several vaccines and drugs in the pipeline, that 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 the 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 the COVID-19 anti-viral drug therapy market.
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 anti-viral drugs involves high R&D costs.
The development of COVID-19 anti-viral drugs involves high operating costs and requires a greater capital investment.Due to the high R&D costs involved in drug development, there is a 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 Scrophulariascorodonia, exert antiviral activity against HCV-22E9. Saikosaponins inhibit viral attachment and penetration stages. The marketed drugs would be priced much higher than the actual manufacturing costs. Hence using these naturopathy and homeopathy medicines can restrain the market growth.
Companies in the anti-viral drug therapy 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 the development of nucleic acid vaccines that are DNA- and RNA-based, and which enable the human body to produce vaccine antigens.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.
In February 2020, GeoVax, a US-based pharmaceutical company, and BravoVax, a China-based pharmaceutical company, announced plans to develop a coronavirus cure in the form of a 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 the 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.
The countries covered in the anti-viral drug therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The anti-viral drug therapy market research report is one of a series of new reports that provides anti-viral drug therapy market statistics, including anti-viral drug therapy industry global market size, regional shares, competitors with an anti-viral drug therapy market share, detailed anti-viral drug therapy market segments, market trends and opportunities, and any further data you may need to thrive in the anti-viral drug therapy industry. This anti-viral drug therapy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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