The Global Antiviral drug market Share is estimated to grow up to USD 45.64 Billion by 2024 at a CAGR of 5.78% from 2018-2024. The factors enhancing the growth of antiviral drug market include rising demand for antiviral drugs, increase in diseased population and enhance in the outbreak of viral infections.
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HIV-AIDS therapeutics holds the largest share in the market of Global Antiviral Drugs
On the basis of technology, the market is segmented into Hepatitis therapeutics, HIV-AIDS (Human immunodeficiency virus infection and acquired immune deficiency syndrome) therapeutics, Influenza therapeutics and Herpes therapeutics. Among these, the HIV-AIDS therapeutics holds the highest growth of the market for antiviral drugs.
According to the report released by WHO (World Health Organization), 35.3 million people across the world are infected with HIV in 2013. The attributes enhancing the growth of HIV-AIDS therapeutics during the forecast period include the rise in health awareness, increasing the prevalence of STIs (Sexually Transmitted Infections) and increasing number of cases for HIV infection.
The Hepatitis therapeutics is also witnessed to have high growth of the market during the forecast period.
Generic Market by Type enhances the growth in Global Antiviral drug market
By type, the market is segmented into branded and generic market. Among these, the generic market has the highest growth of the market for antiviral drugs.
Currently, the generic market is influenced by products such as lamivudine, didanosine, stavudine, and zidovudine. Overall, the HIV-AIDS will enhance the growth of antiviral drug market during the forecast period.
On the other hand, increasing health awareness through government companions, high cost for research & development and therapy and the high cost of developing drugs are key attributes driving the antiviral drug market.
North America holds a considerable market for Global Antiviral Drug market.
North America will record the highest growth of the market for the antiviral drug during the forecast period. The main reason for this growth is because of rapid growth in the antiviral drug market, growing technological advancements and rising government support.
The Major players in the global antiviral drug market include GlaxoSmithKline, Abbott, Roche, Schering-Plough, Bristol-Myers-Squibb, Johnson & Johnson, Merck & Co, Gilead, Roche Holding AG. Some other generic companies in this market are Dr Reddy’s, Cipla, and Aurobindo Pharma.
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