Antiviral drugs are pharmaceutical formulations that are used to treat infections caused by viruses. Such drugs either inhibit the replication of the virus or boost the immune system of the patient to fight against the infection. Increasing prevalence of viral diseases like COVID-19, Influenza, Hepatitis, HIV/AIDS and others have been triggering the demand for antiviral drugs worldwide.
Market key trends:
The increasing prevalence of viral diseases is one of the key factors responsible for fueling the growth of the global antiviral drugs market. As per various research studies, viral diseases continue to pose significant threats to human health. For instance, according to the World Health Organization (WHO), viral hepatitis resulted in 1.34 million deaths globally in 2015. Similarly, as of 2021, around 38 million people were estimated to be living with HIV/AIDS. Moreover, new viral strains continue to emerge frequently which has created an urgent need for development of effective antiviral drugs. This is prompting key players in the market to focus on research and development activities for innovative drugs against newly emerging strains thereby propelling market growth over the forecast period.
Segment Analysis
The global antiviral drugs market is dominated by the HIV antivirals sub segment. Due to rising cases of HIV/AIDS across nations and increasing awareness, the HIV antivirals sub segment accounts for over 35% of the total antiviral drugs market share. The HIV antivirals drugs are aimed at inhibiting retroviral replication thereby reducing development of viral resistance. This makes it one of the most effective antiviral treatment options.
Key Takeaways
Global Antiviral Drugs Market Size is expected to witness high growth over the forecast period of 2023-2030. The market is projected to reach a valuation of US$ 61324.71 Mn by 2024, rising at a CAGR of 23%.
Regional analysis: North America region currently dominates the global antiviral drugs market with over 40% share. This is attributed to growing prevalence of HIV/AIDS, Hepatitis infections coupled with high healthcare expenditure in the region. The United States holds majority of market share in North America region supported by strong presence of leading pharmaceutical companies and continuous drug innovation. Europe region is the second largest market for antiviral drugs. Counties such as the UK, Germany, France holds major share in Europe market boosted by strong funding for research& development.
Key players operating in the antiviral drugs market are CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc. CogniFit is one of the leading developers of scientifically validated neuroplasticity-based programs. It offers antiviral drugs such as Arbidol to treat influenza infections. Elevate offers antiviral drugs including Oseltamivir, Zanamivir to reduce the duration and severity of influenza symptoms.
Explore More Related Article On This Topic: https://www.ukwebwire.com/antiviral-drugs-market-demand/
Explore More Related Article On This Topic: https://www.newsintv.com/health/genetic-symphony-precision-medicines-melody-for-tailored-health-and-wellness/
Comments
0 comment