Antiviral drugs are pharmaceutical agents used to treat viral infections. They help inhibit viral replication and treat diseases caused by viruses like hepatitis, HIV, influenza, herpes, and COVID-19. The growing prevalence of viral diseases, increasing healthcare expenditure, and rising R&D investments are fueling the demand for effective antiviral drugs.
The global antiviral drugs market is estimated to be valued at US$ 70646.07 Bn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
Increasing R&D efforts to develop novel antiviral drugs: Major companies in the antiviral drugs market are expanding their R&D efforts to develop new drugs with improved efficacy and reduced side effects. For instance, new drugs are being researched for treating HIV, influenza, herpes, hepatitis C, and emerging viruses. This key trend is fueling market growth as effective new antiviral drugs receive regulatory approvals and are launched commercially. Companies are conducting clinical trials on potential drug candidates targeting viral replication mechanisms with the aim of introducing breakthrough antiviral therapies.
Segment Analysis
The global antiviral drugs market is dominated by HIV/AIDS drugs sub segment. Over 50% of the antiviral drugs market revenue comes from HIV/AIDS antiviral drugs. This is because HIV is one of the biggest pandemics globally with over 37 million people currently living with HIV. The demand for drugs to treat the infection is consistently high.
Key Takeaways
The global Antiviral Drugs Market Share is expected to witness high growth over the forecast period 2024 to 2031.
Regional analysis: North America currently dominates the global antiviral drugs market accounting for over 35% of the total market share in 2024 primarily led by the US. However, Asia Pacific region is expected to witness the fastest CAGR of 27% during the forecast period on the back of rising income levels, growing health awareness and expanding healthcare infrastructure in populous countries like China and India.
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. These players are focusing on new product launches and expansions to gain a competitive edge in the market. For instance, in 2027 CogniFit launched a new mobile and web application to make its digital cognitive training programs more accessible.
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