Healthcare

Global Anti-Viral Drug Market Study Reveals Growth Factors and Competitive Outlook for Future

Global anti-viral drug market is expected to flourish at a CAGR of 5.9% over the forecast period. Moreover, the global anti-viral drug market is anticipated to garner USD 42.3 Billion by the end of 2024. Increasing prevalence of chronic diseases such as HIV, hepatitis and influenza is expected to propel the growth of anti-viral drug market during the forecast period.

The global anti-viral drug market is segmented into types such as branded drugs and generic drugs. Among these segments, generic anti-viral drugs segment is expected to occupy the top position in anti-viral drug market during the forecast period. Factors such as lower cost of generic drugs as compared to branded drugs and rising number of off-patent drugs are anticipated to impel the growth of generic anti-viral drug segment. Furthermore, favorable government initiatives such as prompting citizens to adopt generic drugs for chronic diseases are expected to augment the growth of generic Anti-Viral drug Market.

The hepatitis treatment segment by application is estimated to register noteworthy CAGR during the forecast period. Moreover, hepatitis segment is expected to account for the largest share of revenue across the globe. According to World Health Organization (WHO), 71 million people were estimated to be suffering from hepatitis C disease. Moreover, the initiatives taken by government and health organizations of various countries in order to reduce the number of deaths from hepatitis are anticipated to foster the growth of anti-viral drugs for hepatitis treatment market.

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Rising Prevalence of Chronic Diseases

Significant growth in the number of patients suffering from chronic diseases is expanding the market of anti-viral drugs. As per World Health Organization, 36.7 million HIV cases and 71 million hepatitis C cases were registered in 2016. Further, more than 95% people suffering from hepatitis C can be treated by anti-viral medications. These factors are likely to augment the growth of anti-viral drugs market.

Favourable Government Initiatives

Government policies and programs to limit chronic diseases fatalities are anticipated to be the dynamic factor behind the growth of the anti-viral drug market during the forecast period. For instance, U.S. government has launched National Viral Hepatitis          Action Plan to improve the life of people suffering from hepatitis which is likely to augment the demand for anti-viral drugs in the overcoming years.

The report titled “Anti-Viral Drug Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluationdelivers detailed overview of the Global anti-viral drug market in terms of market segmentation by type, by application, by end user and by region.

Although, high cost associated with the development of anti-viral drugs and lack of diagnostic centers and hospitals in undeveloped nations are some of the factors that are likely to inhibit the growth of the global anti-viral drug market in the near future.

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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global anti-viral drug market which includes company profiling of GlaxoSmithKline PLC, Johnson and Johnson, Merck & Co, Abbott Laboratories, Cipla Limited, F. Hoffmann-La Roche Ltd., Bristol-Myers-Squibb, Gilead Sciences, Aurobindo Pharma and Sino Biopharmaceutical. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global anti-viral drug market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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