Global Anti-viral Drug Market as valued at US$59.068 billion in 2019. Anti-viral drugs are used for treating influenza. The anti-viral drugs are used when it just a start of flu illness, it can help in reducing fever and flu symptoms like cough, sore throat, runny or stuffy nose, body aches, headache, chills, and fatigue. The global anti-viral drug market is increasing due to the increasing prevalence of influenza across various countries around the world. The growing geriatric population and increasing government initiatives are also the driving factors for anti-viral drugs. The increasing geriatric population according to the World Bank Data, from 7.49% of the total population in the world in the year 2009 to 8.87% of the total world population in the year 2018 of people aged 65 and above. The increase in people aged 65 and above is due to improved health facilities around the world and people living a better lifestyle that includes better food quality and other facilities required for living. The improvement in medication and drugs is also a factor for the geriatric population. This is further increasing the demand for anti-viral drugs. The increasing influenza prevalence around the world is a second major reason for the increasing demand for anti-viral drugs around the world. According to the World Health Organization (WHO), North America saw the rise in influenza activity with majority people infected with influenza A viruses with at least 80% of adult influenza-associated hospitalizations were associated with influenza A viruses. The growing number of influenza cases in the United States is growing the requirement of an anti-viral drug in the country.
The growing adoption of vaccines around the world for providing better health services and preventing the spread of flu around the world and cause pandemic is making the government increase their efforts in spreading the importance of vaccines. This will reduce the growth of anti-viral drugs. This is a major restricting factor for the anti-viral drug market. The market of the anti-viral drug is also restricting by the high cost incurred in the development of drugs is increasing their prices, making it difficult for people to afford. This is further leading to the growth of alternatives like naturopathy and homeopathy which will further restraint the anti-viral drug market.
The global anti-viral drug market is segmented by application type, mechanism of action, and by geography. On the basis of application type, the global anti-viral drug market is segmented by herpes antiviral drugs, hepatitis antiviral drugs, HIV antiviral drugs, influenza antiviral drugs, and other antiviral drugs. The global anti-viral drug market segmentation based on the mechanism of action is done by nucleotide polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, and others.
Influenza Antiviral Drugs is highly used worldwide
The increasing prevalence of influenza around the world is increasing the demand for anti-viral drugs across the world. Like the USA government’s Center for Disease Control (CDC) had estimated the number of influenza cases in the country is ranging from 15.4 million and 17.8 million people in 2019 with an increase in deaths than usual. The anti-viral drug is used for curing different types of diseases like influenza, herpes, hepatitis, HIV, and others. The increased use of anti-viral drugs is due to the increasing transmission of these diseases among people. According to the UNAIDS data, 37 million people were living with HIV in 2017. The increasing HIV among people is driving the market for HIV antiviral drugs.
By geography, North America has a significant share in the market
Regionally, the global anti-viral drug market is classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America is expected to have a significant market share in the anti-viral drug market due to the presence of large pharmaceutical companies and the early adoption of advanced medicines in the region due to heavy research and development carried on by pharmaceutical companies. The increasing prevalence of influenza and HIV in the North American region is a major factor in the increasing use of anti-viral drugs. The Asia Pacific region is expected to be the fastest-growing region in the anti-viral drug market. It is due to an increasing number of people diagnosed with increasing influenza and HIV in the region. This is increasing the consumption of anti-viral drugs in countries like India and China. The increasing presence of pharmaceutical companies in the Asia Pacific region is further boosting the market of anti-viral drugs. Easy availability of OTC (over-the-counter) anti-viral drugs in Asia Pacific countries is also contributing to the market growth of the region’s anti-viral drug market during the forecast period.
Market Players and Competitive Intelligence
Prominent key market players in the Global Anti-Viral Drug Market include F. Hoffmann-La Roche Ltd, Gilead Sciences, Inc., GlaxoSmithKline plc., Bristol-Myers Squibb Company, Pfizer Inc., Abbott Laboratories, AstraZeneca plc.,AbbVie Inc., Johnson & Johnson, and Merck & Co., Inc. among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Global Anti-Viral Drug Market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.