Antivirals Market Segments, Drivers, Restraints, And Trends For 2024-2033

The Business Research Company's Antivirals Market Segments, Drivers, Restraints, And Trends For 2024-2033

LONDON, GREATER LONDON, UK, August 22, 2024 /EINPresswire.com/ -- The global antivirals market has experienced significant growth in recent years, expanding from $97.72 billion in 2023 to $105.73 billion in 2024, at a compound annual growth rate (CAGR) of 8.2%. This growth has been driven by the prevalence of viral diseases, heightened public health concerns, patent expirations, and government initiatives. Looking ahead, the market is expected to continue its upward trajectory, reaching $143.83 billion by 2028, with a CAGR of 8.0%. Key drivers of this future growth include emerging viral threats and global health initiatives.

Increasing Incidence of Influenza Drives Market Growth
The rising incidence of influenza is expected to be a major driver of growth in the antivirals market. Influenza, a highly contagious viral respiratory infection, continues to affect millions globally, necessitating effective antiviral treatments. Antivirals are crucial in inhibiting the replication and spread of influenza viruses. For instance, according to the Centers for Disease Control and Prevention (CDC), during the 2021-2022 season, the United States recorded 9 million flu illnesses, 4 million flu-related medical visits, 100,000 flu-related hospitalizations, and 5,000 flu deaths. These statistics underscore the growing demand for antiviral medications, driving market expansion.

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Key Players and Market Trends
Leading companies in the antivirals market, such as AbbVie Inc., Gilead Sciences Inc., and Pfizer Inc., are at the forefront of innovation, focusing on developing new antiviral therapies and expanding their product portfolios. For example, in November 2021, Pfizer launched PAXLOVID, an antiviral pill approved by the FDA for the treatment of mild-to-moderate COVID-19. PAXLOVID, a combination of two medications, nirmatrelvir and ritonavir, has been instrumental in reducing the risk of hospitalization and death among COVID-19 patients.

In a strategic move, Pfizer Inc. acquired ReViral Ltd. for $525 million in June 2022, aiming to enhance its anti-infective pipeline, particularly for respiratory syncytial virus (RSV). This acquisition underscores the industry's commitment to expanding its antiviral offerings and addressing a broader range of viral infections.

Segments:
• By Type: Branded, Generic
• By Drug Class: DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors, Other Drug Classes
• By Application: HIV, Hepatitis, Herpes, Influenza, Other Applications

Geographical Insights: North America Leading the Market
North America was the largest region in the antivirals market in 2023, driven by advanced healthcare infrastructure, high R&D investments, and a strong focus on innovation. The Middle East is expected to be the fastest-growing region during the forecast period, attributed to increasing healthcare expenditure and rising awareness of antiviral treatments.

Access the complete report for an in-depth analysis of the global antivirals market: https://www.thebusinessresearchcompany.com/report/antivirals-global-market-report

Antivirals Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Antivirals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on antivirals market size, antivirals market drivers and trends, antivirals market major players, antivirals competitors' revenues, antivirals market positioning, and antivirals market growth across geographies. The antivirals market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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