The global antiviral drugs market size is expected to reach USD 46.9 billion by 2027, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of -2.3% over the forecast period. Increasing geriatric population is considered to be the major factor anticipated to drive the demand for efficient treatment of human immunodeficiency virus (HIV) infections.
According to the Centers of Disease Control and Prevention (CDC), nearly half the people diagnosed with HIV in U.S. are aged 50 and older. Furthermore, according to the data published in World Population Prospects: The 2019 Revision, one in six people globally is estimated to be over age of 65 years by 2050. In addition, one in four persons living in Northern America and Europe would be aged 65 years and above by 2050. The number of persons aged 80 years and above is estimated to triple, from 143 million in 2019 to 426 million in 2050. The increasing aging population worldwide would have a direct impact on the healthcare systems, who would have to meet the needs of the aging population. This, in turn, would drive the demand for antiviral drugs, which can be used to treat a range of viral infections.
Presence of pipeline antiviral products for HIV therapeutics is anticipated to drive the market over the forecast period. For instance, ViiV Healthcare is developing Cabotegravir/rilpivirine (long-acting injectable), which is currently under Phase III and are types of NNRTI/ INSTI drug class. In addition,GS-6207 (capsid inhibitor) and vesatolimod (TLR-7 agonist) are being developed by Gilead Sciences and are currently under Phase I trial for the treatment of HIV. Moreover, advancements in epidemiology and growing awareness of viral diseases are expected to result in a high demand for efficient treatment solutions.
According to the CDC, the prevalence of oral herpes (HSV-1) and genital herpes (HSV-2) was 47.8% and 11.9% respectively, from 2015 to 2016. The Herpes Resource Center (HRC) provides public awareness, education, and patient support. Moreover, the Hepatitis B Foundation provides information such as diagnosis, preventive measures, and treatment. Increasing preventive measures with the availability of various vaccines is expected to hinder the market growth over the forecast period.
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Further key findings from the report suggest:
· Reverse transcriptase inhibitors held the largest share in 2019 and is estimated to be the fastest-growing segment over the forecast period as these inhibitors slow down or prevent viral replication
· DNA polymerase inhibitors was the second-largest segment in 2019 owing to its effectiveness in combating drug resistance
· Generic products are estimated to be the fastest-growing segment over the forecast period owing to increased adoption of generic drugs in developing countries
· Hepatitis dominated the application segment in 2019 owing to the availability of various antiviral products for its treatment
· HIV is estimated to be the fastest-growing segment over the forecast period due to its increasing prevalence and incidence rate
· North America dominated the global antiviral drugs market in 2019 owing to the presence of key players in the region and the availability of a well-established healthcare infrastructure.
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Grand View Research has segmented the global antiviral drugs market on the basis of drug class, type, application, and region
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