The global anti-viral drug market is anticipated to grow at a CAGR of 4.0% during the forecast period. The growing prevalence of numerous infectious diseases such as HIV, Hepatitis, Herpes Virus, COVID-19, Ebola, and seasonal influenza globally is one of the major factors increasing the demand for anti-viral drugs. In 2019, an estimated 1.2 million people in the US aged 13 and older had HIV, as per HIV.gov estimates. The demand for anti-viral drugs has surged since the time of the COVID-19 pandemic. Many organizations had been working towards the development of anti-viral drugs and therapeutics for COVID-19 at the time of the pandemic, which leads to the high drug development and that has further affected the market positively. For instance, in 2020, NIAID partnering NIH Institutes and initiated an intensive research program to prioritize and accelerate the development of COVID-19 therapeutics. The research program was enhanced through the APP’s discovery and development initiatives. Under which APP focused on the development of antivirals that directly act against viral targets, specifically for RNA viruses including SARS-COV-2, Paramyxoviridae, Bunyavirales, Picornaviridae, Filoviridae, Togaviridae, and Flaviviridae.
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Moreover, ongoing R&D activities and private investments in healthcare infrastructure development along with the introduction of new and effective anti-viral drugs are further expected to impel market growth. Supportive government investments to promote research and development for the treatment of viral infection is expected to bring lucrative opportunity for the market players to develop novel drugs and therapeutics targeting viral infection. However, the high cost associated with some of the anti-viral hepatitis drugs is the prime concern limiting their wide production.
Segmental Outlook
The global anti-viral drug market is segmented based on type, mechanism of action, and application. Based on type, the market is sub-segmented into generic anti-viral drugs and branded anti-viral drugs. Further, the global anti-viral drug market is divided based on the mechanism of action into nucleotide polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, and others. Among these, reverse transcriptase inhibitors will show remarkable growth. Reverse transcriptase inhibitor is classified: as nucleoside reverse transcriptase inhibitors (NRTI) and non-nucleoside reverse transcriptase inhibitors (NNRTI). The availability of these reverse transcriptase inhibitors which are broadly used in antiretroviral therapy is the key factor that has boosted their demand and will help in segment growth during the forecast period.
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Based on application, the market is categorized into HIV, hepatitis, herpes virus, influenza, and others. The HIV segment is expected to hold the highest share due to increasing hepatitis disease prevalence globally. As per the Minority HIV/AIDS Fund, there were approximately 37.7 million people across the globe with HIV in 2020. Of these, 36 million were adults and 1.7 million were children aged 0-14 years. The prevalence is expected to increase with time and create scope for the anti-viral drug further as these drugs allow the immune system to repair itself and prevent further damage from HIV.
Regional Outlook
Geographically, the global anti-viral drug market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). The North American anti-viral drug market is set to display progressive growth during the expected time frame. The factors contributing to the growth of the regional market include a well-established healthcare infrastructure and the presence of the major players offering innovative antiviral drugs in the market. In addition, the FDA approval of the new drugs and effective therapies will further aid in the market expansion on a broad level. Whereas the presence of favorable reimbursement policies in Europe is expected to bring new growth opportunities to the market, which in turn will help to grow more.
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