New York, USA, May 09, 2022 (GLOBE NEWSWIRE) -- A new report on the global antiviral therapies market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $66,016.5 million by 2027, rising at a CAGR of 3.1% from 2020 to 2027. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth:
Growing cases of viral infections worldwide and growing demand for antiviral drugs for curing HIV are the main factors fueling the growth of the global antiviral therapies market. Additionally, the integration of nanotechnology into antiviral drugs design & development for the production of advanced and cost-effective medications is projected to bring in lucrative growth opportunities for the market in the forecast period. However, lengthy procedures involved in the development and launch of antiviral drugs is projected to hamper the growth of the antiviral therapies industry.
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Impact of COVID-19 Pandemic on the Market:
The abrupt rise of COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global antiviral therapies market. In the pandemic period, researchers are greatly investing in R&D activities to find effective antiviral drugs for the COVID-19 treatment. Moreover, many market players are striving to recognize suitable compounds with high antiviral activity against coronavirus infection to deliver instant solution and end the pandemic. This has boosted the global market growth significantly during the pandemic crisis.
The report segments the global antiviral therapies market into drug type, distribution channel, and region.
HIV Antiviral Drug Sub-Segment to Experience Remarkable Growth
Among the drug type segment, the HIV antiviral drug sub-segment grabbed highest market share in 2019, and is expected to experience significant growth during the forecast period. The growth of this sub-segment is mostly because of the rising demand for HIV antiviral drugs due to significant surge in the cases of HIV across the world.
Hospital Pharmacy Sub-Segment to Observe Highest Growth
Among the distribution channel segment, the hospital pharmacy sub-segment is projected to grab leading market share and grow with 2.8% CAGR during the estimated timeframe. This is mostly because hospital pharmacies offer quality drugs to patients by procuring the drugs directly from medicine manufacturers, consequently avoiding the problem of forged drugs.
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North America Region to Observe Steady Growth
The report analyzes the global antiviral therapies market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North America region market is expected to grow continuously during the estimated timeframe. The growth of this region market is mainly owing to the rising demand for antiviral medicines owing to the presence of viral infections and increasing geriatric population in the region.
Major Players in the Market:
The report lists some of the leading players functioning in the global antiviral therapies market including
- Gilead Sciences, Inc.
- AstraZeneca
- F. Hoffmann-La Roche Ltd
- Merck & Co., Inc.
- Bristol-Myers Squibb Company
- Johnson & Johnson Services, Inc.
- Abbott, AbbVie Inc.
- Aurobindo Pharma
- GlaxoSmithKline plc.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in April 2021, the government of the UK introduced an Antivirals Taskforce to detect treatments that can be used at home by people infected with SARS-CoV-2 infection, to avoid the spread of the virus and accelerate recovery time.
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Some Trending Article Links:
- The Uses and Causes of Antiviral Therapies to Prevent & Treat Influenza Virus Infection
- Antiviral Therapies: A Concise Guide to the Most Sought-for Panacea for Infections
- Novel Drug Launches by Key Players during the Covid-19 Pandemic to Aid Global Antiviral Therapies Market to Reach Newer Heights
