The Business Research Company’s Antivirals Global Market Report 2021: COVID-19 Implications And Growth to 2030
LONDON, GREATER LONDON, UK, May 5, 2021 /EINPresswire.com/ — The demand for anti-viral drugs grew at a rapid pace due to the novel coronavirus outbreak. As there were no vaccines and potential treatments for COVID-19, companies were trying to repurpose existing drugs in the fight against the novel coronavirus. The use of certain existing anti-viral drugs for COVID-19 treatment is contributing to the growth of anti-viral drugs market. However, if any of these drugs under trials show further promising results in treating the coronavirus infection, the anti-viral market will see further growth.
Besides the potential for fighting against the coronavirus, increasing public-private funding for life science research globally is also expected to drive the growth of the global antiviral therapies market. There are several vaccines and drugs in the pipeline, some yet to be approved or launched. Governments around the world announced new grant funds for researchers in vaccines, treatment, and diagnostics. In March 2020, the Canadian government announced $214.6 million for coronavirus research. Wellcome and the Gates Foundation announced they are joining forces with the credit card company MasterCard in a $125 million push to speed up development of drugs for treating COVID-19 infections. Hence increasing public-private funding for life science research will enhance the research and development, which drives the growth of the COVID-19 anti-viral drug therapy market.
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Global antiviral drugs market analysis shows the antiviral drugs market size and share expected to decline from $62.62 billion in 2020 to $52.13 billion in 2021 at a compound annual growth rate (CAGR) of -16.8%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The antiviral drugs market revenue is expected to reach $67.66 billion in 2025 at a CAGR of 6.7%.
The major players covered in the global antivirals market are AbbVie Inc., Bristol-Myers-Squibb, Cipla, F. Hoffmann-La Roche Ltd, Gilead Sciences Inc, GlaxoSmithKline, Johnson & Johnson, Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd, AstraZeneca plc., Aurobindo Pharma, Abbott Laboratories, Schering-Plough Corporation, Pfizer Inc., Sanofi, Regeneron Pharmaceuticals, Inc., Inovio Pharmaceuticals, Inc., Novavax, Inc., BioCryst Pharmaceuticals, Inc.
The antiviral drug market research report is segmented by drug class into DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, others, by application into HIV, hepatitis, herpes, influenza, others, and by type into branded, generic.
Antivirals Global Market Report 2021: COVID 19 Implications And Growth to 2030 is one of a series of new reports from The Business Research Company that provides antivirals market overview, forecast antivirals market size and growth for the whole market, antivirals market segments, and geographies, antivirals market trends, antivirals market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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