The global antiviral therapies market is predicted to witness massive growth in forecast period, owing to the increasing demand for antiviral drugs in HIV treatment. The North America region is anticipated to dominate the industry by 2027
NEW YORK, Jan. 6, 2021 /PRNewswire/ -- Research Dive in its latest published report projects that the Global Antiviral Therapies Market is expected to generate $66,016.5 million and exhibit a CAGR of 3.1% from 2020 to 2027.
The increasing demand for antiviral drugs in HIV treatment and the rising prevalence of viral infections across the globe are the key factors predicted to bolster the growth of the global antiviral therapies market during the forecast period. Besides, technological advancements in antiviral drug design & development in order to manufacture cost-effective & quality drugs are likely to create massive opportunities for the global market growth by 2027. Conversely, the lengthy method for antiviral drug development and high costs associated with these therapies are expected to restrict the market growth in the near future.
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Key Segment Findings of the Market:
The report segments the global antiviral therapies market into drug type, distribution channel, and region.
- Based on drug type, the HIV antiviral drug segment valued for maximum share in the global market in 2019 and is expected to hold a significant position by 2027, due to the rising prevalence of HIV cases around the world.
- Based on distribution channel, the hospital pharmacy segment is projected to grow at a CAGR of 2.8% by 2027 and is expected to be most profitable during the forecast period. The lucrative growth of the segment is majorly due to the easy availability of medicines to patients and growing geriatric population worldwide.
- Based on region, the North America market for antiviral therapies is predicted to dominate the overall industry throughout the forecast period. This dominance is majorly attributed to the rising geriatric population and increase in the prevalence of viral infections in the region.
COVID-19 Impact on Analysis on Antiviral Therapies Market:
The global antiviral therapies market has responded positively to the pandemic owing to rise in the utilization of antiviral drugs in the development of effective medicines for the COVID-19 treatment. In addition, leading players in the global marketplace are adopting strategies such as collaborations and partnerships to strengthen their place in the global marketplace. For instance, in May 2020, Merck & Co., Inc. made a collaboration with Ridgeback Biotherapeutics LP, a biotechnology company, to develop EIDD-2801, which is an oral antiviral candidate for treatment of COVID-19 patents. Through this collaboration, both companies aimed to develop innovative, safe and effective vaccines againstSARS-CoV-2 through antiviral therapies. This factor is predicted to fuel the growth of the market in the pandemic time.
Top 10 Companies in Antiviral Therapies Market:
The key players of the global antiviral therapies industry include
- GlaxoSmithKline plc
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche Ltd
- Bristol-Myers Squibb Company
- AbbVie Inc.
- Aurobindo Pharma
- Merck & Co., Inc.
- Johnson & Johnson Services, Inc
These players are focusing on mergers &acquisitions, drug approvals, technological advancements, and drug launches to gain a competitive edge in the global market. For instance, in June 2019, a biotechnology company focused on developing novel anti-infectives, Cidara Therapeutics Inc. announced the noveldata from studies of CB-012, aCloudbreakantiviral Fc-conjugate (AVC)influenza candidate.
Further, the report sketches & summaries various aspects of these prominent players such as product portfolio, financial performance, SWOT analysis, and many more. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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