Anti-Viral Therapies Market is expected to reach US$ 82,928.76 million in 2028

PRESS RELEASE BY The Insight Partners 16 Jan 2023

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The global anti-viral therapies market is expected to reach US$ 82,928.76 million in 2028; registering at a CAGR of 8.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners

Branded Drugs Segment to Dominate Anti-Viral Therapies Market during 2022–2028

The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the anti-viral therapies market is primarily attributed to the increasing prevalence of viral diseases owing to the onset of the COVID-19 pandemic, increasing R&D expenditures in pharmaceutical companies, and rising government support for research activities and clinical trials. However, the high cost of drug development is hampering the market growth.

Anti-Viral Therapies Market, by Geography, 2021 (%)

Anti-Viral Therapies Market, by Geography, 2021 (%)

Anti-Viral Therapies Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

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Anti-Viral Therapies Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Generic Drugs and Branded Drugs), Mechanism of Action (Nucleotide Polymerase Inhibitor, Reverse Transcriptase Inhibitors, Protease Inhibitors, and Others), and Application (HIV, Hepatitis, Virus Influenza, Herpes, and Other Applications), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Source: The Insight Partners Analysis

Based on type, the anti-viral therapies market is bifurcated into branded drugs and generic drugs. The branded drugs segment held a larger share of the market in 2021; however, the generic drugs segment is anticipated to register a higher CAGR during the forecast period. A branded drug is the original product that has been produced by a pharmaceutical company. When a company creates a novel drug, its product must undergo severe tests and evaluations to ensure that it is safe and competent in preserving the condition it requires to treat patients. Investments in the development of new medication by pharmaceutical organizations, robust research & development activities, and a surge in drug discoveries are a few factors that would support the market growth during the forecast period.

Based on geography, the global anti-viral therapies market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Further, the US is the largest anti-viral therapies market in North America. Increasing research & development activities, growing product approvals, and rising demand for advanced therapeutic solutions to treat viral diseases are a few of the prominent factors propelling the market growth in North America. Moreover, Asia Pacific is expected to exhibit the fastest growth in the global market due to growing healthcare infrastructure and evolving pharmaceutical & biopharmaceutical industries. Further, India holds a significant position in the global anti-viral therapies market. The pharmaceutical industry in the country is the thirteenth largest in terms of revenue and the third largest in terms of volume. India is the largest provider of generic drugs across the globe. Owing to the recommendations of The Ministry of Health & Family Welfare (MoHFW), the startups and established generic manufacturers are focused on revolutionizing anti-viral agent manufacturing through the implementation of new anti-viral therapies.

A few of the major players operating in the anti-viral therapies market include AbbVie Inc.; Abbott; F. Hoffmann-La Roche Ltd; Bristol-Myers Squibb Company; Johnson & Johnson Services, Inc.; Merck & Co., Inc.; Gilead Sciences, Inc.; GlaxoSmithKline plc; and Aurobindo Pharma Limited.

By geography, the global market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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