Global ant-viral drug market is anticipated to flourish at a CAGR of 5.9% over the forecast period. Further, the market of anti-viral drugs accounted for USD 31.2 Billion in 2016 and is projected to garner USD 42.3 by the end of 2024. Anti-viral drugs refer to the class of antimicrobials which are used specifically for the treatment of viral infections. Anti-viral drugs are formulated to treat HIV, hepatitis virus, influenza and herpes virus. These anti-viral drugs can be used only for specific disease.
“Anti-Viral Drug Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation”
The global anti-viral drug market is segmented into types such as branded drugs and generic drugs. Among these segments, generic anti-viral drugs segment is expected to occupy the top position in anti-viral drug market during the forecast period.
Factors such as lower cost of generic drugs as compared to branded drugs and rising number of off-patent drugs are anticipated to impel the growth of generic anti-viral drug segment. Furthermore, favorable government initiatives such as prompting citizens to adopt generic drugs for chronic diseases are expected to augment the growth of generic anti-viral drug market.
Global Ant-Viral Drug Market is anticipated to flourish at a CAGR of 5.9% over the forecast period. Further, the market of anti-viral drugs accounted for USD 31.2 Billion in 2016 and is projected to garner USD 42.3 by the end of 2024.
Rising prevalence of viral infections and diseases across the globe is expected to increase the demand for anti-viral drugs globally.
North America dominated the overall market of anti-viral drugs in 2016. Further, North America market is expected to continue its dominance over the forecast period on the account of rising healthcare expenditure.
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.
Asia Pacific is anticipated to witness robust growth over the forecast period 2017-2024. This growth can be attributed to the increasing number of virus infected people and rising disposable income of the population.
Additionally, rising medical tourism in the region is projected to supplement the growth of the anti-viral drugs market.
Rising Prevalence of Chronic Diseases
Significant growth in the number of patients suffering from chronic diseases is expanding the market of anti-viral drugs. As per World Health Organization, 36.7 million HIV cases and 71 million hepatitis C cases were registered in 2016.
Further, more than 95% people suffering from hepatitis C can be treated by anti-viral medications. These factors are likely to augment the growth of anti-viral drugs market.
Favourable Government Initiatives
Government policies and programs to limit chronic diseases fatalities are anticipated to be the dynamic factor behind the growth of the anti-viral drug market during the forecast period. For instance, U.S. government has launched National Viral Hepatitis Action Plan to improve the life of people suffering from hepatitis which is likely to augment the demand for anti-viral drugs in the overcoming years.
Although, high cost associated with the development of anti-viral drugs and lack of diagnostic centers and hospitals in undeveloped nations are some of the factors that are likely to inhibit the growth of the Global Anti-Viral Drug Market in the near future.
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 Global anti-viral drug 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.
This report also provides the existing competitive scenario of some of the key players of the global anti-viral drug 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 global anti-viral drug 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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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...