Antivirals Market to Expand with Significant CAGR by 2024
Although the development of antivirals has lagged behind that of antibiotics, the report finds that this sector is presented with vast unmet medical needs and substantial profits for drug candidates who invest in the production of new antiviral drugs. As a result, the number of biotechnology companies focusing on R&D activities for advanced antivirals is second only to cancer. According to the report, the global Antivirals Market is expected to expand at a moderately healthy CAGR during the forecast period of 2016 to 2024.
Global Antivirals Market: Region-wise Outlook
Geographically, the global market for antivirals can be segmented into North America, Europe, Asia Pacific and Rest of the World. The report points out that the U.S. is the most prominent market for antiviral drugs, dominating the North American region with a strong healthcare infrastructure and the presence of several prominent players. The U.K. leads in the European market while Japan is a significant market in Asia Pacific. Several countries in Asia Pacific and Africa are expected to grow at a robust rate during the forecast period of 2016 to 2024.
Some of the key players currently operational in the global market for antivirals are Abbott Laboratories, GlaxoSmithKline, plc, BoehringerIngelheim Corporation, AstraZeneca AB, Novartis International AG, Merck and Co. Inc., and Johnson & Johnson.
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Global Antivirals Market: Trends and Opportunities
Some of the primary trends in the global market for antivirals are the development of new mechanisms and research on second-generation molecules, combination therapies, and topical administration routes. Investors proactively pursue research and development of drug candidates for viral diseases that require long-term treatment. They also prefer initiatives that have a predominant patient-base in developed regions of the world and are readily accepted by physicians and drug formularies. Antivirals ideally fit the profile and hence are gaining strong investments. Moreover, the need to improve the quality of life of the patients on the available antiviral regimens is encouraging efforts for the development of second-generation molecules, such as IFN-α.
Several patent expiries are expected during the forecast period of the report, such as Sustiva, Tamiflu, Tenofovir, Combivir, Telbivudine, and Relenza. The report expects the patent expiries of these blockbuster drugs will trigger the development of generic therapeutics in the global antivirals market and make it more competitive. Pipeline drugs such as Rilpivirine, Elvitegravir, Vicriviroc, and Rapiacta are expected to positively impact the market upon arrival.
Some of the other factors driving the global market for antivirals are the increase in healthcare infrastructure spending not only in developed countries but also among emerging economies, the rising prevalence of life-threatening viral diseases, and an increase in public awareness. Conversely, the high cost of R&D and stringent government policies are expected to hinder the growth of the global market for antivirals.
On the basis of products, the global market can be segmented into antivirals for hepatitis-C, hepatitis-B, HIV, herpes, influenza, and others. The market can also be segmented on the basis of enzyme specific actions, such as DNA polymerase inhibitors, reverse transcriptase inhibitors, NS3 Protease inhibitors, and others.
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