Anti-viral drugs Market Analysis
The global anti-viral drugs market is expected to exhibit a robust 6.9% CAGR over the forecast period from 2016 to 2022, according to the latest research report from Market Research Future (MRFR). The global anti-viral drugs market is mainly driven by the growing investment in healthcare channels, including research and development. The growing coronavirus pandemic has also been a major driver for the global anti-viral drugs market.
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Viruses are life forms that inhabit a host and multiply in the host’s body, causing a wide range of diseases. Anti-viral drugs are drugs specifically made to counter specific viruses. The growing threat of viral diseases around the world has been the major driver for the global anti-viral drugs market. The increasing prevalence of coronavirus or COVID-19 has driven steady investment in the anti-viral drugs market in order to find effective cures for the disease. This is likely to remain a major driver for the global anti-viral drugs market over the coming months. Governments as well as private organizations around the world have come together around the world to find effective cures against coronavirus, as steady investment is needed in order to fund effective research into the development of effective cures for the disease. This is likely to drive the global anti-viral drugs market over the forecast period.
The growing prevalence of HIV-AIDS is also likely to be a major driver for the global anti-viral drugs market over the forecast period. Due to the absence of effective contraceptives, AIDS has become a major healthcare threat around the world, especially in developing countries in Africa and Latin America. This is likely to remain a major driver for the global anti-viral drugs market over the forecast period.
Impact of Covid-19 on the Anti-Viral Drugs Market
Corona Virus (Covid-19) has impacted every single industry, causing steep roads into the global economy. One such industry that has had both positive and negative impacts is the anti-viral drugs market. Coronavirus has negatively impacted by causing disruptions not only in the production of pharmaceuticals but also caused troubles in the supply chain. However positively it has impacted by showing great results in treating covid positive patients.
The concerns started aggravating by the fact that COVID-19 struck first, and worst, in China, which is the world’s one of the leading producers and exporters of active pharmaceutical ingredients (API) by volume. The majority of APIs for generic drug manufacturing across the globe are sourced from India, which also supplies approximately 30 percent of the generic APIs used in the US. However, Indian manufacturers rely heavily on APIs from China for the production of their formulations, procuring around 70 percent from China.
With an indefinite lockdown in China due to the deadly coronavirus outbreak, supplies of raw materials from China to produce drugs for treating HIV, cancer, epilepsy, malaria, and also commonly used antibiotics and vitamin pills, are also likely to be hit.
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Anti-viral drugs Market and demographic challenges, showed how it could move forward in the coming years.
Anti-viral drugs Market Competitive Leaderboard:
Leading players in the global anti-viral drugs market include Cipla Inc., AstraZeneca AB, Novartis International AG, Abbott Laboratories, GSK plc, F. Hoffman-La Roche Ltd., Gilead Sciences Inc., Merck & Co. Inc., and Johnson & Johnson. Major players in the global anti-viral drugs market are likely to focus on research and development in the coming years in order to produce effective drugs for antiviral therapy. Coronavirus has also become a major target for players in the anti-viral drugs market, as the number of cases of coronavirus around the world is increasing at a steady rate.
Anti-viral drugs Market Segmentation:
The global anti-viral drugs market is segmented on the basis of application, mechanism of action, and region.
By application, the global anti-viral drugs market is segmented into hepatitis, HIV-AIDS, herpes, influenza, and others. Hepatitis and HIV-AIDS are likely to hold dominant shares in the global anti-viral drugs market over the forecast period. Hepatitis is a major concern in Africa, where the absence of capable healthcare channels and funding has resulted in a growing prevalence of the disease.
By mechanism of action, the global anti-viral drugs market is segmented into nucleotide polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, and others.
Anti-viral drugs Market Regional Analysis:
The Americas dominate the global anti-viral drugs market due to the strong presence of major healthcare industry players in North America, including the U.S. and Canada. The presence of leading market players in North America has resulted in a strong presence of research and development channels in the region, leading to a steady output of effective anti-viral drugs. North America is home to several large hospitals, which increases the prospects for drug makers, as strong distribution mechanisms are already in place in the region. The growing concern regarding COVID-19 in the region is also likely to be a major driver for the anti-viral drugs market in North America, as the U.S. has the leading number of COVID-19 patients in the world.
Europe has the second largest global anti-viral drugs market share and is likely to remain an important regional segment of the market due to the presence of several leading players in the market. Asia Pacific is expected to exhibit the highest growth rate in the global anti-viral drugs market over the forecast period.
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