Antiviral Drugs Market: Current Analysis and Forecast (2021-2027)

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Antiviral Drugs Market is anticipated display a CAGR of around 3.4% over the forecast period (2021-2027). The global Antiviral Drugs market is expected to witness robust growth mainly due to the increase in epidemics of viral infections, and chronic diseases like HIV/AIDS, herpes, hepatitis, and influenza viruses that also leads to weakens the immune and risk of getting viruses, especially among the middle-aged population. Antiviral Drugs can ease sign and shorten how long you are weak with viral infections like the flu and Ebola. Many therapies are available for the treatment of HIV and Herpes, including topical, systemic, and injectable modalities. In addition, rise in research and development expenditure by key market players and their focus on the launch and approval of new drugs, is further expected to propel the market growth.

The ongoing COVID-19 pandemic across the world have had a tremendous impact on different spectra of society, the market for Antiviral Drugs no less. The market for Antiviral Drugs faced a positive impact due to movement of bulk need, and there has been a huge incline in the hospital and clinics visits. Due to this, there has been a positive impact on the product sales and supply chains of numerous sectors, particularly during the first two quarters of the year 2020. This has adversely affected the trade of Antiviral Drugs products due to the high demand and widespread financial distress.

Insights Presented in the Report
“Amongst Drug Class, Reverse transcriptase inhibitors segment dominated the market in 2020”
Based on drug class, the Antiviral Drugs Market is segmented into Reverse transcriptase inhibitors, DNA polymerase inhibitors, Protease inhibitors, and others. In 2020, the Reverse transcriptase inhibitors category dominated the market and is expected to maintain its dominance throughout the forecast period. This is mainly due to the rising diagnosis and treatment rate of HIV, as these medicines are mainly used to treat HIV infection and the high effectiveness of these drugs against viral infections. Reverse transcriptase inhibitors are medications used in the management and treatment of HIV/AIDS and in some cases, hepatitis B. It is in the antiretroviral class of drugs.

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“Amongst Distribution Channel, Online Pharmacies category to witness fastest growth rate”
Based on distribution channel, the market is bifurcated into hospitals and clinics, drug store and retail pharmacies, and online pharmacies. Among these, online pharmacies category is expected to witness robust growth during the forecast period. The internet’s supply of pharmaceuticals has developed in numerous ways and according to different models in each part of the world. Moreover, growing internet penetration in developing countries of the world and entry of various tech start-ups in the sector is further fueling growth in the market. For instance, in India, along with increasing customer adoption, there has been a secular rise in investor interest in online pharmacies, with the sector garnering US$ 48 billion in investments in 2021 alone. Pharm Easy, Med life, 1mg and Net meds are some of the leading players in the Indian online pharmacy market.

“North America will Dominate the Market During the Forecast Period”
For a better understanding of the demand of Antiviral Drugs Market, the market is analyzed for major regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Currently, North America dominates the market; however, Asia-Pacific is expected to witness highest CAGR growth owing to rising healthcare expenditure in countries such as China, India, and other developing Asian countries. Some of the major players operating in the market include Gilead Sciences, F. Hoffmann-La Roche AG, GlaxoSmithKline plc., AbbVie, Merck & Co. Inc., Johnson & Johnson Services Inc., Bristol-Myers Squibb Company, Cipla Inc., Aurobindo Pharma, Dr Reddy’s Laboratories Ltd., Glenmark Pharmaceuticals Ltd.

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Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Antiviral Drugs Market were the three major steps undertaken to create and analyze the demand and sales of Antiviral Drugs across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Antiviral Drugs through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Antiviral Drugs, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by drug class, by application, and distribution channel. Further regional level analyses were conducted to evaluate the overall demand of Antiviral Drugs in global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as industry trends, product application, understanding consumer demands, competitive landscape, brand positioning and pricing analysis. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

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Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the demand of Antiviral Drugs across the major regions globally
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Antiviral Drugs Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Antiviral Drugs market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of by drug class, by application, and distribution channel, and regions.

The main objective of the Antiviral Drugs Market Study

The current & future market trends of the Antiviral Drugs Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Antiviral Drugs in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
• Segments in the study include by drug class, by application, and distribution channel, and regions
• Defined analysis of the regulatory framework for the Antiviral Drugs industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
• Analyze the current and forecast market size of the Antiviral Drugs across the globe. Major regions analyzed in the report include North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific); and Rest of World. Define and analyze the competitive landscape of the Antiviral Drugs sector and the growth strategies adopted by the market players to sustain in the fast-growing market

Deep dive regional level analysis of the industry