Antiviral Drug Market - Forecast(2024 - 2030)

Antiviral Drug Market was valued at $58.2Bn in 2019, and is anticipated to grow at a CAGR of 4.1% during the forecast period 2020-2025. The Antiviral Drug Market growth rate is attributed to increase in the incidence rate of viral infection treatments such as HIV, herpes, hepatitis, influenza, and others as most of these drugs are used for specific viral infections, along with the rising focus on immunization. With the rise in the COVID-19 cases in the various countries, antiviral drug developments are set to contribute to the growth of the market during the forecast period 2020-2025. As most of the leading pharmaceutical companies are focused on the research and development of the antiviral drug for the pandemic. 

The Miscellaneous Antivirals segment dominated the Antiviral Drug Market and is estimated to grow at a CAGR of 3.87% during the forecast period 2020-2025. The leading market share can be attributed to the fact that most of the drugs under this category are associated for treatment of medical conditions like CMV Gastroenteritis, CMV Prophylaxis, CMV Retinitis, Hepatitis C, HIV Infection, Influenza; as these conditions has a high incidence rate in viral infections across the globe, it is anticipated to boost the Antiviral Drug Market in the forecast period.   

On the basis of Disease Indications type, Human Immunodeficiency Virus held the major share of the market in terms of revenue in 2019. The reason behind the dominance is the rising incidence of HIV infections. However, participation of WHO and the governmental bodies for the development of guidelines on HIV-preventive interventions and evaluation of HIV preventive capacity of drug treatment and services are to enhance the overall market of Antiviral Drugs in the forecast period 2020-2025. 

North America dominated the Antiviral Drug Market with a share of 39% in 2019. The application of antiviral drugs have grown rapidly over the last few years. U.S. remains the largest consumer of antiviral drugs in North America region, owing to the burgeoning cases of HIV Infections and increasing investments by governmental and non-governmental organizations for evaluation of HIV 8preventive capacity of drug treatment and services. However, Europe region is estimated to grow at a fast CAGR during the forecast period 2020-2025 owing to an efficient reimbursement of healthcare policies and new launches which can be directly administered to boost the market in Europe. 

Additionally, it is estimated that the global antiviral drug market with grow exponentially during the forecast period owing to the COVID-19 outbreak.

With the rise in the COVID-19 outbreak in the various countries, various antiviral drug developments have been taking place which can be estimated to drive of the Antiviral Drug Market. Emergency Use Authorization (EUA) allows FDA to authorize use of new antiviral drugs to diagnose, treat or prevent serious, life threatening condition. This authorization would result in faster approval period for Antiviral Drug acting as a key driver of the market during the forecast period. 

  

The major challenge for the market is the high costs associated to the developments and compliance of these Antiviral Drug in a vast and heterogeneous market. The increase in usage of natural products to stringent rules and regulations regarding the efficacy of the Antiviral Drug also dissuades companies to enter the market. 

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Antiviral Drug Market. In 2019, Antiviral Drug Market share is fragmented by the top ten players present in the market. Antiviral Drug Market top 10 companies are Glaxo Smith Kline plc., Merck & Co. Inc., Bristol-Myers Squibb Company, Gilead Sciences, Novartis AG, Astra Zeneca, Cipla Inc., Bavarian Nordic, Sanofi and F. Hoffmann-La Roche Ltd.