COVID-19 Outbreak: How Antiviral Therapies Market Will Shape Having Biggies with Strong Fundamentals?

Global Antiviral Therapy Market size is expected to grow with a CAGR of 5.8% from 2019 to 2026 According to a study conducted by Research Dive. The global antiviral therapy market size was accounted at $48.1 billion in 2018 and is anticipated to garner $ 75.6 billion by 2026.

Increasing incidences of viral infections, growing awareness among public about these infections, rise in healthcare spending, growing R&D investments, and growing incidences of severe and deadly disorders in people are the key antiviral therapy market drivers responsible to boost the growth of global market during estimated period. In addition, development of broad-spectrum antibiotics and surge in profitable opportunities in the developing economies of Asia-Pacific and LAMEA regions are expected to provide numerous opportunities for the growth of the market. On the other hand, huge costs involved in the manufacturing of these therapy and rise in the demand for alternative medicines such as homeopathy and naturopathy are expected to restrain the development of the market.

The HIV segment in the antiviral therapy market was valued at $16.4 billion in the year 2018 and is expected to increase with a growth rate of 5.4% throughout the estimated period. This is because of the rising occurrence of HIV infection across the globe. The majority of HIV antiviral drug usage has been seen in the North America region. Also, the consumption of antiviral therapy in African region is expected to increase and fuel the development of the market.

The online pharmacy segment is expected to grow at an increased speed by generating a revenue of $23.2 billion by the end of 2026, at a significant growth rate of 6.1% during the forecast period. On the other hand, the hospital pharmacy segment is anticipated to dominate the market by generating a revenue of $35.5 billion by the end of 2026, at a substantial growth rate of 5.5% throughout the forecast period. This is mainly due growing trends in the online shopping sector in the developed and developing countries. At present, the market share is mainly controlled by a few top pharmaceuticals as well as biotechnology companies.

Regionally, the market has been studied across Asia-Pacific, North America, Europe, and LAMEA. Asia-Pacific antiviral therapy market is anticipated to grow at an increased pace with a healthy growth rate of 6.5% during the forecast period, garnering $12.8 billion by the end of 2026. This is mainly due to factors such as the growing cases of HIV infection, growing awareness about HIV infection, and increasing collaboration between public and private sectors in this region. Furthermore, the North America antiviral therapy market held a leading position in the global antiviral therapy market in 2018. This region is anticipated to hold its lead position in the market throughout the forecast period by generating a revenue of $29.5 billion by 2026. This is attributed to factors such as the rising occurrence of HIV and hepatitis C infections, well-established market players in the region, growing healthcare awareness, rising elderly population, and increasing healthcare spending in this region. On the contrary, factors such as patent expiration and generic erosion of antiviral therapy are hindering the growth of the market in this region.

The key market players profiled in the report are F. Hoffmann-La Roche Ltd., Gilead Sciences, GlaxoSmithKline, Abbott Laboratories, AbbVie Inc., AstraZeneca Plc., Bristol- Myers-Squibb, Johnson & Johnson, Schering-Plough Corporation, and Merck & Co., Inc. These market players are undertaking several activities to grab a major share of the market and hold a leading position in the antiviral therapies industry. Some of these activities include new product launches, mergers and acquisitions, antiviral therapy market developments in current technology. These are some of the growth strategies implemented by these market players.

Mr. Abhishek Paliwal
Research Dive
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