Global Antiviral Drugs Market

Global Antiviral Drugs Market Size, Share, Growth Analysis, By Type(Branded Drugs and Generic Drugs.), By Application(HIV/AIDS, Hepatitis) - Industry Forecast 2024-2031

Report ID: SQMIG35B2171 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 62 | Figures: 75

Global Antiviral Drugs Market News

  • In March 2023, Gilead Sciences announced the launch of its new antiviral drug, called Veklury. Veklury is a treatment for COVID-19 and is said to be effective against the Omicron variant.
  • In February 2023, Merck announced the launch of its new antiviral drug, called Molnupiravir. Molnupiravir is a treatment for COVID-19 and is said to be effective against the Delta variant.
  • In January 2023, Pfizer announced the launch of its new antiviral drug, called Paxlovid. Paxlovid is a treatment for COVID-19 and is said to be effective against the Omicron variant.
  • In December 2022, AbbVie announced the launch of its new antiviral drug, called Mavyret. Mavyret is a treatment for hepatitis C and is said to be more effective than older treatments.
  • In November 2022, Bristol Myers Squibb announced the launch of its new antiviral drug, called Zepatier. Zepatier is a treatment for hepatitis C and is said to be more effective than older treatments.
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FAQs

Antiviral Drugs Market size was valued at USD 36.1 billion in 2021 and is poised to grow from USD 37.26 billion in 2022 to USD 47.93 billion by 2030, growing at a CAGR of 3.2% during the forecast period (2023-2030).

The competitive landscape of the global antiviral drugs market is characterized by the presence of numerous pharmaceutical and biotechnology companies engaged in research, development, and commercialization of antiviral medications. These companies strive to gain a competitive edge by investing heavily in research and development activities to discover and develop novel antiviral drugs. They also focus on enhancing existing antiviral therapies to improve efficacy, minimize side effects, and overcome drug resistance. 'Gilead Sciences Inc. (US)', 'Roche Holding AG (Switzerland)', 'Johnson & Johnson (US)', 'Merck & Co., Inc. (US)', 'AbbVie Inc. (US)', 'Bristol Myers Squibb (US)', 'GlaxoSmithKline plc (UK)', 'Pfizer Inc. (US)', 'Novartis AG (Switzerland)', 'AstraZeneca PLC (UK)', 'Eli Lilly and Company (US)', 'Takeda Pharmaceutical Company Limited (Japan)', 'Boehringer Ingelheim GmbH (Germany)', 'Biogen Inc. (US)', 'Sanofi (France)', 'Moderna, Inc. (US)', 'Cipla Limited (India)', 'Sun Pharmaceutical Industries Ltd. (India)', 'Mylan N.V. (US)', 'Teva Pharmaceutical Industries Ltd. (Israel)'

The global prevalence of HIV/AIDS has created a substantial market demand for antiretroviral therapy. The introduction of highly active antiretroviral therapy (HAART) has revolutionized the management of HIV/AIDS, improving the life expectancy of infected individuals and driving the growth of the antiviral drugs market.

Increasing focus on the development of broad-spectrum antiviral drugs: Broad-spectrum antivirals are medications that can effectively target and inhibit multiple viruses, regardless of their specific strains or types. This trend stems from the need for effective treatment options against emerging viral infections and the challenges associated with developing specific antiviral drugs for each individual virus. Broad-spectrum antivirals offer advantages in terms of cost-effectiveness, rapid response to viral outbreaks, and improved patient outcomes by providing a broader coverage against multiple viral pathogens. The development of broad-spectrum antiviral drugs is driven by advancements in drug discovery and innovative research approaches, including targeting viral host factors and employing broad-spectrum antiviral mechanisms.

North America holds a significant share in the antiviral drugs market due to several factors. The region has a well-established healthcare infrastructure, advanced research and development capabilities, and a high prevalence of viral infections such as HIV/AIDS, hepatitis, and influenza. Additionally, the presence of key market players and pharmaceutical companies in North America contributes to the dominant position of the region. The availability of healthcare facilities, favorable reimbursement policies, and robust regulatory frameworks further support the market growth in this region.

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Global Antiviral Drugs Market

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