Press release
Global Anti-Viral Drug Market will multiply at an impressive USD 42.3 Billion by 2024 & Top Key Players GlaxoSmithKline PLC, Johnson and Johnson, Merck & Co., Abbott Laboratories, Cipla Limited, F.Hoffmann-La Roche Ltd., Bristol-Myers-Squibb, Gilead Scien
The anti-viral drug market has been segmented by type into generic drugs and branded drugs. Among these segments, the generic drugs segment dominated the anti-viral drug market by holding the highest market share in previous year and is anticipated to continue its dominance with highest compound annual growth rate over the period 2017-2024.
Global Anti-viral Drug Market accounted for USD 31.2 Billion in 2016 and is projected to garner USD 42.3 Billion by the end of 2024, expanding at a compound annual growth rate of 5.9% over the forecast period. Rising prevalence of viral infections and diseases across the globe is expected to increase the demand for anti-viral drugs globally which will further the growth of anti-viral drugs market by noteworthy revenue by the end of 2024.
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In regional segment, North America dominated the overall market of anti-viral drugs in 2016 and is further expected to continue its dominance over the forecast period on the account of rising healthcare expenditure. The United States is expected to be the major contributor to the growth of anti-viral drugs owing to the presence of major key players in this region. Additionally, presence of highly developed healthcare infrastructure and rising awareness about the viral infections is expected to fuel the growth of anti-viral drugs market in the North America region. Factors such as rising disposable income, increasing number of virus infected people combined with rising medical tourism is anticipated to drive the anti-viral drug market in Asia-Pacific region. Further, favorable government regulations boosting the growth of healthcare sector is likely to swell the demand for anti-viral drugs in this region.
Rise in Anti-Viral Drugs with Growing HIV Cases
According to WHO, the number of people infected with HIV were estimated to be 36.7 Million in 2016. Additionally, 1.8 Million new cases of HIV were registered in 2016. Rising number of HIV cases is expected to be one of the key growth drivers for anti-viral drugs market. Further, rising awareness about this deadly disease is substantially raising the demand for the anti-viral drugs globally. These factors are expected to benefit the expansion of anti-viral drug market. However, lack of awareness about viral diseases and high-cost of advanced developing anti-viral drugs is likely to inhibit the growth of the anti-viral drugs market in the near future.
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The report titled “Anti-Viral Drug Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the anti-viral drugs market in terms of market segmentation by type, by application, by end-user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the anti-viral drugs market which includes company profiling of GlaxoSmithKline PLC, Johnson and Johnson, Merck & Co., Abbott Laboratories, Cipla Limited, F.Hoffmann-La Roche Ltd., Bristol-Myers-Squibb, Gilead Sciences, Aurobindo Pharma and Sino Biopharmaceutical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the anti-viral drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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