COVID-19 Impact: Antiviral Therapy Market to Witness Heightened Revenue Growth in the Next Decade

The global outbreak of coronavirus has created a significant impact on the global antiviral therapy market. The sustainability of the global market is mainly attributed to the presence of a huge patient pool suffering from virally infectious diseases. Due to the outbreak of COVID-19, the majority of the leading ventures are developing the drugs and therapeutic tests to defeat the pandemic. For instance, in April 2020, Roche, a pioneer in healthcare, has developed the Elecsys Anti-SARS-CoV-2 serology test for the detection of antibodies Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2) that causes the COVID-19. This may cause a positive impact on the growth of the global antiviral therapy market, in the forecast period. Moreover, to combat COVID-19, the majority of market players are entering into strategic collaborations. For instance, Cipla, a leading pharmaceutical firm, has collaborated with the Hyderabad-based Indian Institute of Chemical Technology (IICT) to develop an anti-viral drug for coronavirus. By implementing these strategies, the antiviral therapy enterprises across the globe are preparing for the post-pandemic impact.

During this chaotic situation, we are helping our clients in understanding the impact of COVID19 on global antiviral therapy. Our report includes:

Technological Impact
Social Impact
Investment Opportunity Analysis
Pre- & Post-COVID Market Scenario
Infrastructure Analysis
Supply Side & Demand Side Impact
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As per a new publication of Research Dive, the global antiviral therapy market is set to register a revenue of $79.8 billion by 2026, at a growth rate of 6.7% during the analysis period. The segmentation of the market has been done based on drug type, distribution channel, and region. The report provides detailed information on opportunities, drivers, vital segments, restraints, and significant industry players in the global market.

Factors Affecting the Market Growth
As per our analyst estimates, significantly rising prevalence of viral disease along with increasing geriatric population are some of the major factors propelling the antiviral therapy market growth. On the contrary, the high cost for treating these infections and shift in preference of the patients toward naturopathy and homeopathy are some of the elements anticipated to hamper the growth of the antiviral therapy market.

HIV Drug for the global antiviral therapy market will have a Significant Market Share During the Analysis Period
On the basis of drug type, the global market for antiviral therapy is classified into influenza antiviral drugs, herpes antiviral drugs, HIV antiviral drugs, hepatitis antiviral drugs, and others. The HIV drug is valued at $16.4 billion in 2018 and is projected to increase at a 6.2% growth rate by the end of 2026. This is mainly because of an increase in the incidence of HIV. For instance, as per the recent publication of the WHO (World Health Organization) in 2018, around 37.9 million people living with HIV, across the globe. On the other hand, the herpes antiviral drug is valued at $12.3 billion in 2018 and is projected to increase at a 7.0% growth rate by the end of 2026.

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Online Pharmacy will be the Most Lucrative
Based on the distribution channel the antiviral therapy is mainly categorized into hospital pharmacy, independent pharmacy and drug store, and online pharmacy. The market size for online pharmacy accounted for $24.5 billion in 2026 and is expected to foster at a CAGR of 7.0% during the forecast period; this is growth is mainly attributed to the better pricing than offline stores, lower transaction and product costs, convenience and greater anonymity for consumers.

Geographical Analysis and Major Market Players
On the basis of region, the global for antiviral therapy market is classified into North America, Europe, Asia Pacific, and LAMEA. The Asia-Pacific Antiviral therapy market valued at $13.5 billion in 2026 and is anticipated to rise at a 7.4% growth rate during the analysis period. This is mainly because of the presence of leading generic pharmaceutical players such as Cipla, aurobindo pharma limited, and Dr, Reddy's along with the rise in prevalence of infectious disorders in Asian countries.

The leading global antiviral therapy market players include F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc., Bristol-Myers Squibb Company, Merck & Co., Inc., Informa plc., Cipla Inc., Dr. Reddy’s Laboratories Ltd., AbbVie Inc., Gilead Sciences, Inc., and Johnson & Johnson Services, Inc.

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This release was published on openPR.