The antiviral drugs market is estimated to be valued at US$ 61324.71 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Antiviral drugs are pharmaceutical or biological agents used to treat viral infections. These drugs help suppress the viral replication and the progression of disease. The major classes of antiviral drugs include reverse transcriptase inhibitors, protease inhibitors, fusion inhibitors, and integrase inhibitors. These drugs are primarily used for the treatment of HIV, hepatitis, herpes, influenza, and respiratory syncytial virus (RSV).

Market Dynamics:
The growth of the antiviral drugs market is majorly driven by the rising prevalence of infectious diseases across the globe. According to the WHO, HIV continues to be a major public health issue and had claimed around 6,90,000 lives in 2020. Furthermore, hepatitis also presents a serious global health problem with an estimated 1.5 million new hepatitis infections each year. Additionally, increasing research and development activities for developing novel antiviral therapies and rising healthcare expenditure is also propelling the market growth. However, high costs involved in drug R&D and stringent regulatory requirements associated with clinical trials somewhat hamper the market growth.

SWOT Analysis:

Strength: The antiviral drugs market has strong growth potential due to the increasing prevalence of viral infections globally. The development of advanced antiviral drugs with novel mechanisms of action provide improved treatment efficacy. Additionally, rising R&D investments by key players for developing innovative antiviral therapeutics will further aid market growth.

Weakness: High costs associated with drug development and clinical trials of antiviral drugs hamper market growth. Several generic versions face regulatory and intellectual property barriers.

Opportunity: Increasing incidence of HIV/AIDS and influenza presents lucrative opportunities for market players. Growing demand for effective treatments against chronic viral infections like hepatitis and herpes similarly presents opportunities.

Threats: Strict government regulations for drug approval is a major challenge. Rising demand for alternative treatment modalities also threatens the market.

Key Takeaways:

The global Antiviral Drugs Market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing prevalence of viral infections. According to WHO, approximately 36.7 million people were living with HIV globally in 2020. This growing disease burden coupled with technological advancements in antiviral drug development is expected to drive market growth.

Regional analysis:
The North America antiviral drugs market holds the largest market share due to growing healthcare expenditure and increasing R&D activities for antiviral drug development in the region. Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period owing to rising healthcare infrastructure, large patient pool and increasing government support for healthcare sector in emerging economies like India and China.

Key players related content comprises Key players operating in the antiviral drugs market are GlaxoSmithKline plc, AbbVie Inc., Merck & Co., Inc., Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Cipla Inc., Aurobindo Pharma, and Gilead Sciences.

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