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| Global Antiviral Drugs Market Size |
Antiviral drugs are pharmaceutical formulations that are used to treat
infections caused by viruses. Such drugs either inhibit the replication of the
virus or boost the immune system of the patient to fight against the infection.
Increasing prevalence of viral diseases like COVID-19, Influenza, Hepatitis,
HIV/AIDS and others have been triggering the demand for antiviral drugs
worldwide.
The global
Antiviral Drugs Market is estimated to be valued at US$ 61324.71 Mn in 2023 and is expected to exhibit a CAGR of 23.% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increasing prevalence of viral diseases is one of the key factors
responsible for fueling the growth of the global antiviral drugs market. As per
various research studies, viral diseases continue to pose significant threats
to human health. For instance, according to the World Health Organization
(WHO), viral hepatitis resulted in 1.34 million deaths globally in 2015.
Similarly, as of 2021, around 38 million people were estimated to be living with
HIV/AIDS. Moreover, new viral strains continue to emerge frequently which has
created an urgent need for development of effective antiviral drugs. This is
prompting key players in the market to focus on research and development
activities for innovative drugs against newly emerging strains thereby
propelling market growth over the forecast period.
Segment Analysis
The global antiviral drugs market is dominated by the HIV antivirals sub
segment. Due to rising cases of HIV/AIDS across nations and increasing
awareness, the HIV antivirals sub segment accounts for over 35% of the total
antiviral drugs market share. The HIV antivirals drugs are aimed at inhibiting
retroviral replication thereby reducing development of viral resistance. This
makes it one of the most effective antiviral treatment options.
Key Takeaways
Global
Antiviral Drugs Market Size is expected to witness high growth over the
forecast period of 2023-2030. The market is projected to reach a valuation of US$ 61324.71 Mn by 2024, rising at a
CAGR of 23%.
Regional analysis: North America region currently dominates the global
antiviral drugs market with over 40% share. This is attributed to growing
prevalence of HIV/AIDS, Hepatitis infections coupled with high healthcare
expenditure in the region. The United States holds majority of market share in
North America region supported by strong presence of leading pharmaceutical
companies and continuous drug innovation. Europe region is the second largest
market for antiviral drugs. Counties such as the UK, Germany, France holds
major share in Europe market boosted by strong funding for research&
development.
Key players
operating in the antiviral drugs market are CogniFit, Elevate, Peak, Rosetta
Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc.,
Easybrain and Happify, Inc. CogniFit is one of the leading developers of
scientifically validated neuroplasticity-based programs. It offers antiviral
drugs such as Arbidol to treat influenza infections. Elevate offers antiviral
drugs including Oseltamivir, Zanamivir to reduce the duration and severity of
influenza symptoms.
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