GLOBAL ANTIVIRAL DRUGS MARKET 2023 KEY PLAYERS, REVENUE, MANUFACTURERS, MARKET SHARES
Antiviral Drugs Market OverviewAntiviral drugs are described as curative or disease controlling agents against viral infections. These drugs specifically attack viruses at different metabolic processes and alter the normal functioning of viral particles. From the past few years resistance is observed among viruses against different antiviral drugs with increasing diversity of viruses. This challenge leads to the evolution of broad spectrum antiviral drugs that specifically attack viruses at specified targets such as DNA Polymerase, NS3 Protease, & Reverse Transcriptase. These drugs are used to prevent or cure different viral infections such as HIV/AIDS, Hepatitis, influenza, and other viral infections.
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The growth of Antiviral Drugs market is majorly driven by factors such as increase in public awareness, rise in healthcare expenditure, boost in Research and Development segment, emergence of life-threatening diseases, growing interest to support the development of novel antiviral drugs, existence of well-established supply chain. In addition, increasing incidence rates of viral infections is also fuelling the antiviral drugs market growth. The key restraints of the market are high cost involved in drug development, increase in demand for alternative medicines (naturopathy, homeopathy, and oriental medicines), growing resistance among viruses against different antiviral drugs causing difficulty in developing broad-spectrum anti-viral drugs, restricted trade policies, lack of incentivization, and side-effects of products (nausea, diarrhea, and behavioral
Antiviral Drugs Market Forecast Report (2018-2023)
The Global Antiviral Drugs Market is expected to reach USD 41.31 billion by 2023 from USD 32.21 billion in 2018, growing at a CAGR of 5.10% during the forecast period 2018-2023.
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Antiviral Drugs Market Segmentation
The global Antiviral Drugs Market is segmented on the basis of Application, Target, and End-Users. Based on Application, the market is classified into HIV/AIDS, Hepatitis, Herpes, Influenza, and Others. On the basis of Target, the market is classified into DNA Polymerase, NS3 Protease, Reverse Transcriptase, and Others. On the basis of End-Users, the market is classified into Hospitals, Research Institutes, and Laboratory Centers.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Middle-East and Africa. North America is expected to command the major market share of 34.0% in the global antiviral drugs market. Whereas, Asia-Pacific is projected to grow at the highest CAGR of 6.12% during forecast period 2018-2023.
Major Players:
The major companies dominating this market for its products and services are
• Johnson & Johnson (USA),
• Novartis International AG (Switzerland),
• Roche Holding AG (Switzerland),
• Pfizer (USA),
• Merck and Co. Inc (USA),
• GlaxoSmithKline plc (United Kingdom),
• AstraZeneca AB (United Kingdom),
• Gilead Sciences (USA),
• Abbott Laboratories (USA).
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