June 18, 2024
Antiviral Drugs Market

Antiviral Drugs Market Primed for Growth Due to Rising Prevalence of Infectious Diseases

Antiviral drugs help combat diseases caused by viruses and inhibit viral replication. Some of the commonly prescribed antiviral drugs are acyclovir, oseltamivir phosphate, valacyclovir, ganciclovir and others. These drugs are effective against Hepatitis B & C viruses, HIV/AIDS, influenza and herpes viruses. Rise in number of patients suffering from chronic infections along with increasing demand for effective therapeutic alternatives have augmented the demand for antiviral drugs.

The Global Antiviral Drugs Market is estimated to be valued at US$ 70646.07 Bn in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Antiviral Drugs Market Size are CogniFit, Elevate, Peak, Rosetta Stone Ltd., LearningRx, Lumosity, HAPPYneuron, Inc., Wise Therapeutics, Inc., Easybrain and Happify, Inc. These companies are involved in new product launches and expansion of their existing product portfolios to strengthen their market position.

The market is expected to witness significant growth opportunities due to increasing investment in R&D of novel drug formulations. Several biopharma companies are conducting clinical trials for the development of drugs against Ebola, Zika and other emerging viruses.

North America dominated the global antiviral drugs market in 2024 owing to high healthcare expenditure and presence of major market players in the region. However, Asia Pacific is expected to exhibit fastest growth over the forecast period attributed to growing burden of infectious diseases and improving access to healthcare in developing countries.

Market Drivers

The antiviral drugs market is witnessing robust growth mainly driven by rising prevalence of infectious viral diseases worldwide. As per WHO, around 300-350 million cases of malaria and 1 million deaths are reported annually. Growing cases of viral infections such as influenza, HIV/AIDS, hepatitis and others have increased demand for therapeutic drugs. Furthermore, increasing investment for development of new drug formulations to combat drug resistance is anticipated to propel the market growth during the forecast period.

PEST Analysis

Political: The antiviral drugs market is affected by regulations and guidelines set by various government and regulatory bodies related to drug approval process, clinical trials, marketing and sales.
Economic: Economic growth, rising disposable incomes, increasing healthcare expenditure by governments are driving the antiviral drugs market.
Social: Changing lifestyle and dietary patterns are leading to increased incidence of viral infections which is augmenting the antiviral drugs demand.
Technological: Advancements in drug delivery systems, development of generic antiviral drugs and combination therapies are facilitating the antiviral drugs market growth. Advancements are also leading to development of novel targeted antiviral drugs with better efficacy and fewer side effects.

The North America region accounts for the largest share in the antiviral drugs market in terms of value due to high healthcare expenditure, developed healthcare infrastructure, high awareness and presence of leading manufacturers in the region. The Asia Pacific region is expected to witness the fastest growth in the antiviral drugs market during the forecast period owing to large patient population, increasing healthcare spending, growing economy and rising standards of living.

In terms of value, the United States antiviral drugs market holds the major share due to availability of advanced healthcare facilities, large healthcare spending and presence of major players. The China antiviral drugs market is expected to grow at a high rate during the forecast period due to increasing healthcare investments, rising medical tourism, growing economy and huge patient population.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it