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The antiviral drugs market share is expected to increase by $ 43.37 bn from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 9.45%.
This antiviral drugs market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers antiviral drugs market segmentations by application (hepatitis, HIV, herpes, influenza, and others) and geography (North America, Europe, and Asia). The antiviral drugs market report also offers information on several market vendors, including AbbVie Inc., Bristol-Myers Squibb Co., F. Hoffmann-La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer Inc., and Sanofi among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing cases of viral infections is notably driving the antiviral drugs market growth, although factors such as need for proper storage conditions of antiviral drugs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the antiviral drugs industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Antiviral Drugs Market Driver
The growing cases of viral infections is one of the key factors driving the growth of the global antiviral drugs market. According to the CDC, approximately 800,000 to 1.4 million people are infected with hepatitis B each year. On the other hand, the rate of prevalence and diagnosis of HIV infection has increased dramatically. Despite approvals of drugs, the need for efficacious, single-dose tablet regimens persist. The discovery of new treatment regimens for HIV drugs such as small single-dose tablets will increase patient demands and hence, will positively affect the global antiviral drugs market growth. Considering other parameters such as increasing rates of influenza in the US, limited FDA-approved medicines, and increased drug resistance to other approved medicines such as Amantadine, the antiviral drugs market is currently witnessing a high unmet demand for efficient and effective drugs to fight influenza. Additionally, the recent COVID-19 outbreak, which has infected thousands around the world, is prompting the vendors operating in this market to develop antiviral drugs. Hence, the growing cases of viral infections are expected to drive the global antiviral drugs market during the forecast period.
Key Antiviral Drugs Market Trend
The technological advancements will fuel the global antiviral drug market growth. The new hybridoma technique is a novel approach to the development of monoclonal antibodies, which are selective in nature. This technique will not only have a positive impact on viral diseases but also decrease the cost of the overall treatment. It can be expected that antiviral agents, which were above $100 and could be used to control an epidemic effectively, can now be produced at 1% of their original cost. Moreover, the CDC explains the use of monoclonal antibodies to provide immediate immunity against biological weapons as well as safety measures to prevent epidemic infectious diseases. Recent technological advancements in the development methods of monoclonal antibodies have led to the bulk generation of human antibody reagents that can be prepared against any existing pathogen. However, unlike vaccines, which take time to generate passive immunity in any individual and will depend upon an individual's own capability of developing immunity, monoclonal antibodies immediately develop immunity and are independent of the individual's capability of developing immunity.
Key Antiviral Drugs Market Challenge
The need for proper storage conditions of antiviral drugs is a major challenge for the global antiviral drugs market growth. Antiviral drugs should be stored at a moderate temperature that is neither too hot nor too cold. These medications are temperature sensitive, and their therapeutic efficacy is lost if the proper storage temperature is not maintained. For instance, Indinavir loses its therapeutic activity when exposed to moisture. Thus, it is recommended to store Indinavir in its original container, which is specially designed to keep the drug dry. Moreover, the improper storage conditions not only impact the efficacy of drugs but can also impact the overall property of drugs as the coating of drugs can be temperature sensitive. For instance, if Ritonavir capsules are kept at room temperature, they will melt. Therefore, it is advised to keep Ritonavir capsules in the refrigerator. These capsules are also available in specially designed cold packages, which do not require cold freezing temperatures, to increase patient adherence. High packaging costs are associated with these drugs to maintain their efficacy, which hampers the growth of the global antiviral drugs market.
This antiviral drugs market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global antiviral drugs market as a part of the global pharmaceuticals market within the overall healthcare industry. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the antiviral drugs market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the antiviral drugs market encompasses successful business strategies deployed by the key vendors. The antiviral drugs market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The antiviral drugs market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the antiviral drugs market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global pharmaceuticals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by MOA
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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