Global Antiviral Drugs Market Growth: Is Antiviral Drug the Best Coronavirus Treatment?

#

The global antiviral drugs market has witnessed a rapid surge in demand due to the ongoing Covid-19 pandemic worldwide. So is antiviral drug the best coronavirus treatment? It is still too early to have that conclusion as many medical research and clinical trials are still trying to find the effectiveness and potential side effects of using antiviral drugs to treat coronavirus. But experts believe that antiviral drug might be the best hope for reduce the coronavirus transmission around the world at this stage. However, due to the current difficult situation of the supply chain in many lockdown countries and regions, there is a global shortage on the antiviral drugs supply. With researchers and manufacturers working hard to find and provide effective coronavirus treatment, it is expected that the global antiviral drugs market will have a significant growth over the near future.

What are Antiviral Drugs?

Antiviral drugs are a type of medication used specifically for treating viral infections, such as human immunodeficiency virus (HIV), hepatitis, and influenza. The aim of antiviral therapy is to minimize symptoms and infectivity as well as to shorten the duration of illness. They act by killing or preventing the growth of viruses. Most antivirals are used for specific viral infections, while a broad-spectrum antiviral is effective against a wide range of viruses. For example, Oseltamivir (Tamiflu) and Zanamivir (Relenza) are two types of antiviral medications used against the flu virus.

Find out the coronavirus impact on the global antiviral drugs market

Is Antiviral Drug the Best Coronavirus Treatment?

As the coronavirus pandemic continues to spread worldwide and the death toll continues to rise, scientists are racing to find a solution that will lead to the effective coronavirus treatment. Several medicines are currently undergoing clinical trials in China the U.S. to treat the disease. Some are antiviral drugs that are already used to narrowly target other viruses.

Although the positive results are yet to be seen when using the existing antiviral drugs to treat the coronavirus, some evidence suggests other drugs being tested, such as the broad-spectrum antiviral Remdesivir, developed by Gilead Sciences, could prove to be effective. However, more clinical studies are expected to be taken in order to confirm this possibility.

The latest research on the Covid-19 suggested that the scientists are currently investigating three main types of drugs: the first are antiviral drugs to stop the coronavirus from replicating; the second is anti-inflammatories that treat the lungs after the immune system is overwhelmed; the third type are antibody-based treatments to be given to the critically ill patients.

According to the Chinese healthcare official, more than 80 clinical trials have been conducted in China involve drugs that were developed to treat illnesses such as HIV/AIDS, malaria and Ebola. Those trials tested HIV antivirals called protease inhibitors, which work by blocking enzymes the virus needs to replicate; and a malaria drug called chloroquine, which has shown some efficacy against coronavirus in a lab dish; as well as favipiravir, an anti-flu drug from Japan’s Fujifilm.

Download related report sample for FREE: Global HIV (Human Immunodeficiency Virus) Therapeutics Market Forecast and Analysis 2019-2023

Since coronavirus uses similar approach to copy itself as Ebola, exports believe that antiviral drugs are by far the most useful medications in the earlier stages to treat the coronavirus infection. With the limited clinical tests and trials around the world, the prospect of using antiviral drugs to treat coronavirus patients looks rather promising. In turn, this is also expected to further facilitate the development of the global antiviral drugs market over the near future.

Global Antiviral Drugs Market Analysis 2020

According to the latest market research report from Technavio, considering with the coronavirus impact on the global market, the global antiviral drugs market size is expected to grow by US$ 43.37 billion from 2020 to 2024, representing a significant CAGR of over 9% during the forecast period. For information about the global antiviral drugs market size, top antiviral drugs companies, and the latest market opportunities and market trends, please see Technavio’s global Antiviral Drugs Forecast and Analysis 2020-2024, or download your FREE Global Antiviral Drugs Market Report Sample now!

Apart from the global rush to find effective coronavirus treatment, another driver for this market is the rising cases of viral infections among populations. Increasing prevalence of viral infections such as HIV, hepatitis, respiratory syncytial virus (RSV), and influenza is expected to drive the demand for antiviral drugs. For example, according to the report from WHO, hepatitis B caused around 887,000 deaths worldwide in 2015. Healthcare officials estimated that over 257 million patients were living with hepatitis B virus (HBV) infection in 2015. This is expected to drive the demand of antiviral drugs as efficient treatment solutions for these viruses.

Moreover, the Centers of Disease Control and Prevention (CDC) also reported that about 13 million flu cases were recorded in 2019. Furthermore, according to data published by WebMD in 2018, around 60.0% of the total U.S. population has been exposed to cytomegalovirus (CMV), with a prevalence of around 90.0% in high-risk groups. All these population will pose a strong growth in the antiviral drugs demand.

Download related report sample for FREE: Global Influenza A Market Analysis Report

The increasing mortality rate and the unprecedented growth in the global aging population are some of the main contributors to the growth of this market. Also, it is estimated that the deaths related to diseases like Hepatitis C and HIV are expected to increase significantly in the coming years. This coupled with another parameter such as the increasing rates of influenza in the US, limited FDA-approved medicines, increased drug-resistance to other approved medicines such as Amantadine will create an immense demand for new antiviral medication among the population. This, in turn, will propel the growth of the global antiviral drugs market over the next few years.

Frequently Asked Questions in the Global Antiviral Drugs Market:

What is the current global antiviral drugs market size?

What is the impact of coronavirus pandemic on the global antiviral drugs market?

What are the major challenges in the global antiviral market?

Who are the top antiviral drugs companies in the world?

What are the antiviral drugs market trends?

What are the factors influencing the market shares of the Americas, APAC, EMEA?

All the detailed answers can be found in the following market report: