The global antiviral drugs market size was valued US$ XX billion in 2020 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2022-2029).
Antiviral drugs are medicines that are used especially for treating viral infections. Most anti-viral drugs are used for particular viral infections, similar to antibiotics, while a broad-spectrum antiviral drug is effective against a varied range of viruses.
The antiviral drugs market growth is driven by the increase in the incidence rate of viral infections. In addition, a rise in R&D activities and the development of newer & advanced formulations, such as vaccines and combination therapy, are expected to drive the market growth in the forecast period.
Increasing viral infection incidences and the rising R&D activities will drive the market growth
According to the WHO, there were around 35.3 million people globally, infected with HIV. Therefore, increased viral infection incidences are one of the important factors that drive the anti-viral drugs market growth. Because of the solid R&D activities, newer and advanced treatments and formulations, such as vaccines, combination therapy, and others, are being introduced in the market. Hence, strong R&D is one of the crucial factors in the anti-viral drugs market growth.
For instance, according to data published by the WHO, hepatitis B caused around 887,000 deaths in 2015. Moreover, it was estimated that around 257 million patients were living with hepatitis B virus (HBV) infection in 2015. This is expected to drive the demand for efficient treatment solutions such as antiviral drugs.
Development of new mechanisms and research on second-generation molecules
The development of new mechanisms and research on second-generation molecules, combination therapies, and topical administration routes. Investors proactively pursue research and development of drug candidates for viral diseases that require long-term treatment. They also prefer initiatives that have a predominant patient base in developed regions of the world and are readily accepted by physicians and drug formularies. Antivirals ideally fit the profile and hence are gaining strong investments.
For instance, according to the Weekly U.S. Influenza Surveillance Report published by the Centers for Disease Control and Prevention (CDC), about 13 million flu cases were reported in 2019. Furthermore, according to data published by WebMD in 2018, around 60.0% of the total U.S. population has been exposed to cytomegalovirus (CMV), with a prevalence of around 90.0% in high-risk groups.
High cost and alternate medicine is likely to hinder the market growth
However, the high cost involved in drug development and growth in the demand for alternative medicines such as naturopathy and homeopathy restrains the market growth. In addition, increasing preventive measures and awareness about the availability of vaccines for viral infections act as a restraint to the market growth for antiviral drugs.
COVID-19 Impact Analysis
The rapid spread of the severe acute respiratory syndrome COVID-19, in the immunology human population, has to lead to a global pandemic. While COVID-19 particles may persist on surfaces for several days, as enveloped viruses, they are sensitive to desiccation and mild detergent disinfection. The growth of the disease, as nasal secretions contain a spreadable virus, and contagiousness appears to be highest before or shortly after symptom onset.
Therefore, the Food and Drug Monitoring Agency (BPOM) has issued emergency use authorization (EUA) for two antiviral drugs, favipiravir, and remdesivir, to treat COVID-19 patients. Thus, the pandemic will increase the growth of the global antiviral drugs market in the forecast period.
The reverse transcriptase inhibitors segment is expected to grow at the fastest CAGR during the forecast period (2021-2028)
Reverse transcriptase (RT) inhibitors work by blocking the action of reverse transcriptase. The drugs inhibit RNA virus replication by reversible inhibition of viral HIV reverse transcriptase, which reverse transcribes viral RNA into DNA for insertion into the host DNA sequence a sudden inflammation of the pancreas.
This catalyzed transcription is the reverse process of normal cellular transcription of DNA into RNA, hence the names reverse transcriptase and retrovirus. Reverse transcriptase is central to the infectious nature of retroviruses, several of which cause disease in humans, including human immunodeficiency virus (HIV), which causes acquired immunodeficiency syndrome (AIDS), and human T-cell lymphotrophic virus I (HTLV-I), which causes leukemia. Reverse transcriptase is also a fundamental component of a laboratory technology known as reverse transcription-polymerase chain reaction (RT-PCR), a powerful tool used in research and the diagnosis of diseases such as cancer.
Nucleoside reverse transcriptase inhibitors are nucleoside analogs that inhibit the action of the enzyme reverse transcriptase. This enzyme inhibition slows or prevents viral replication. Most of the NRTIs require multiple daily doses, do not interact with other drugs, and can be taken with or without food. Didanosine (ddI), however, can decrease the absorption of other antiretrovirals if they are taken together, and it must be taken on an empty stomach. All NRTIs have been associated, albeit rarely, with a fatal syndrome of lactic acidosis and hepatic steatosis. Tenofovir is a nucleotide reverse transcriptase inhibitor, a subclass distinguished by fewer chemical steps to intracellular activity and a negative charge that effectively keeps the compound in the cell and active longer, allowing once-daily administration. The first antiretroviral drugs to be used, NRTIs remain the backbone of current HIV multidrug regimens.
The branded segment is expected to dominate the antiviral drugs market during the forecast period
The branded drugs are patented drugs. When a pharmaceutical company discovers a new drug, it files for a patent. Branded generics are generic versions of products sold either by the original manufacturer of the patented drug or by generic manufacturers that build up brand equity for their generic versions of the medication, which they introduce right after the patent expires on the original product. and lipases that a normally functioning pancreas would have; therefore, this enzyme would be useful for targeting an isolated problem in the pancreas. Branded generics, sometimes also called ‘value-added generics ‘that can either be a novel dosage form of an original patented drug or a generic drug with a definite trade name. Branded generics differ from ‘commodity generics’ which are pharmaceutical products, generally used as an alternative to innovator products after the expiry of the patent. One of the major differences is the difference in the cost. Brand drugs are far expensive than generic drugs.
North America region holds the largest market share global antiviral drugs market
North America region is dominating the antiviral drugs market accounted for the largest market share in 2019, owing to the presence of key players in the region, availability of sophisticated healthcare infrastructure, and increasing awareness of viral diseases. In addition, the presence of a strong pipeline for antiviral drugs for the treatment of HIV is expected to increase the product demand.
For instance, according to data published by UNAIDS, globally, around 37.9 million people were living with HIV in 2018. Furthermore, in 2018, around 54.0% of children and 62.0% of adults with HIV were receiving lifelong antiretroviral therapy (ART). This is expected to drive the demand for antiviral drugs in the region.
The antiviral drugs market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Gilead Sciences, F. Hoffmann-La Roche AG, GlaxoSmithKline plc, AbbVie, Merck & Co., Inc., Johnson & Johnson Services, Inc., Bristol-Myers Squibb Company, Cipla Inc., Aurobindo Pharma, and Dr. Reddy’s Laboratories Ltd among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the antiviral drugs market globally.
Antiviral Drugs Market Key Companies to Watch
Dr. Reddy's Laboratories
Overview: Dr. Reddy’s Laboratories Ltd. is an integrated pharmaceutical company, providing medicines through its three businesses segment - Pharmaceutical Services & Active Ingredients, Global Generics, and Proprietary Products. The 5000-member team network connects with more than three lakh doctors regularly to ensure that quality medicines we make are available for patients across the length and breadth of the country. The company has progressively transitioned from being a maker of molecules to a provider of medicines. Dr. Reddy’s operates in markets across the globe. Company major markets include USA, India, Russia & CIS countries, and Europe.
Product Portfolio: The Company’s portfolio has over 200 products covering the whole spectrum of disease areas spanning gastroenterology, oncology, pain management, cardiovascular, dermatology, urology, nephrology, rheumatology, and diabetes. Seven brands are listed in the Top-300 of the Indian Pharma Market.
Key Development: In August 2020, Dr. Reddy’s Laboratories launched antiviral drug Avigan (favipiravir) tablets, currently being manufactured by innovator Japanese drug giant Fujifilm Toyama Chemical Co, for the potential treatment of mild to moderate Covid-19 patients in India The agreement that the Hyderabad headquartered generic drug maker entered into grants it exclusive rights for India while it grants both Dr. Reddy’s and GRA rights to develop, sell and distribute Avigan in all countries other than Japan, China, and Russia.
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