LONDON--(BUSINESS WIRE)--The global antiviral drugs market is expected to grow by USD 43.37 billion as per Technavio. Despite the impact of the COVID-19 pandemic, the growth for this market is expected to remain steady in the first half of 2020 and throughout the forecast period.
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Market estimates include pre- and post-COVID-19 impact on the antiviral drugs market -
As of March 2020, the novel Coronavirus (COVID-19) outbreak has resulted in more than 21,000 casualties throughout the globe. The severity of the pandemic and the rising death toll has necessitated the development of breakthrough antiviral drugs, creating an ample market opportunity for pharmaceutical companies. Public health agencies such as the WHO, National Institute of Health (NIH), and the CDC serve key information sources that are used by manufacturers to obtain vital information about COVID-19, thus helping them ramp up their research activities for the development of vaccines.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by the growing cases of viral infections. In addition, technological advancements are anticipated to boost the growth of the antiviral drugs market.
The incidence of HIV infection is increasing across the globe. According to the CDC, approximately 800,000 to 1.4 million people are infected with hepatitis B each year. Similarly, the recent COVID-19 outbreak has created a panic around the world. The unprecedented growth in the global aging population coupled with increasing mortality rate, caused by aforementioned diseases and other viral infections is accelerating the demand for efficacious, single-dose tablet regimens. This is propelling vendors to develop effective antiviral drugs, thus driving the market growth during the forecast period.
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Major Five Antiviral Drugs Companies:
AbbVie Inc. operates the business under the Pharmaceutical products segment. The company offers MAVYRET. It is a once-daily, ribavirin-free treatment for adults with chronic hepatitis C virus infection across all major genotypes.
Bristol-Myers Squibb Co.
Bristol-Myers Squibb Co. offers products through the Biopharmaceuticals segment. The company is engaged in the discovery, development, licensing, manufacture, marketing, distribution, and sale of innovative medicines that help patients prevail over serious diseases. They offer Daklinza, which is a medication used in combination with other medications to treat hepatitis C.
F. Hoffmann-La Roche Ltd.
F. Hoffmann-La Roche Ltd. operates under various business segments, namely Pharmaceuticals and Diagnostics. The company offers XOFLUZA, which is used as an antiviral medication for treatment of influenza A and influenza B flu.
Gilead Sciences Inc.
Gilead Sciences Inc. offers products through the Pharmaceuticals business segment. The company focuses on the discovery, development, and commercialization of innovative medicines for various indications. They provide COMPLERA, which is used to treat HIV in people who have never taken HIV medicines before.
GlaxoSmithKline Plc offers products through the following business segments: Pharmaceuticals, Consumer healthcare, and Vaccines. The company offers Triumeq, which is a fixed-dose combination medication for the treatment of HIV/AIDS.
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Antiviral Drugs Market Application Outlook (Revenue, USD Billion, 2020-2024)
Antiviral Drugs Market Geographic Landscape Outlook (Revenue, USD Billion, 2020-2024)
- North America
- Key leading countries
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