The global antiviral therapy market was valued at $48.1 million in 2018 and is anticipated to surpass $79.8 million by 2026, at a CAGR of 6.7%. Antiviral therapy is one of the significant aspects of virology since it has mainly employed basic science to create effective treatments on severe viral infections.
The extensive growth of the antiviral therapy market is mainly attributed to the increasing prevalence of human immunodeficiency viruses (HIV) infections and hepatitis C. Widespread applicability of antiviral therapy across the medical sector is leading to R&D for the study of antiviral therapy. These studies are likely to augment the market growth during the forecast period. In 2020, the antiviral therapy market is projected to observe an upsurge in the global market due to the presence of well-established industry players.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|5.8%||6.7%||84||USD 53.6 Million||USD 54.7 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
The huge presence of a major patient pool suffering from viral disorders is one of the key factors which is driving the demand for antiviral therapies, which may boost the growth of the global market during the forecast period. Moreover, the tremendous advancements for the treatment of hepatitis C virus (HCV) infection along with the development of new antiviral drugs for dengue, coronaviruses, filoviruses, and others is also projected to drive the global market. Furthermore, many market players are entering into strategic tie-ups to combat chronic diseases such as HIV (Human Immunodeficiency Virus). For instance, in 2018, Gilead Sciences collaborated with AELIX Therapeutics for the evaluation of a Therapeutic Vaccine for the treatment of HIV. These factors are considerably going to affect the growth of the global antiviral therapy market, during the analysis period.
The increasing adoption of an unhealthy lifestyle, decreased physical exercise, and risen smoking trends, have resulted in a dramatic surge in the incidence and prevalence of infectious diseases. These elements have created the major demand for antiviral therapies in the global market and are expected to propel the global market growth, throughout the forecast period. Moreover, changing global and environment setup and increase in the geriatric population are also fueling the growth of the global antiviral therapy market. Furthermore, an extensive increase in R&D activities and the development of highly advanced formulations, such as combination therapy, vaccines, and pipeline products are anticipated to augment market growth.
The unprecedented situation of COVID-19 across the entire world has led to the shutdown of industries for an uncertain period of time. The processes of businesses like production, transportation, and distribution of products have stopped due to complete lockdown, which will definitely impact on the global industry. However, this breakdown has positively impacted the global antiviral therapy market. Key players of antiviral therapy have started working to develop drugs to treat coronavirus. For instance, in May 2020, Cipla entered into the collaboration with Gilead Sciences for the production and distribution of the investigational medicine used for the treatment of corona virus-infected patients.
Moreover, to strengthen the footprint in the global market some of the ventures are emphasizing on product innovation in the midst of the great pandemic with an aim to defeat against the coronavirus. For instance, in April 2020, Ennaid Therapeutics, LLC, a leading biopharmaceutical venture made an announcement that they are advancing the development of ENU200, to treat patients of COVID-19 viral infection. These factors will drive the need for antiviral therapies; which will eventually foster the growth of the global market.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The post-COVID-19 outbreak period is anticipated to experience a significant surge in the demand for antiviral therapy mainly because of the increasing occurrence of infectious disease. The rate of emerging infectious diseases in a population is rapidly growing mainly due to deskbound work, growing pollution, and consumption of an unhealthy diet. Thus, it demands steps for cooperation, mass awareness, and collaboration between different healthcare enterprises and medical fields. Further, in recent days an outbreak of infectious disorders occurs more often and rapidly spreads, in many different regions of the globe. These factors may create lucrative opportunities for the global antiviral therapy market, after a pandemic crisis.
The communal spread of the COVID-19 pandemic poses a unique challenge for healthcare services. There is no approved treatment for this disease, or any approved vaccine is available. So to gain the trust of people, suppliers, and employees global leaders are concentrating on multiple business development strategies to sustain in this chaotic situation. For instance, GSK (GlaxoSmithKline), a multinational pharmaceutical company, is closely monitoring the coronavirus communal transmission and is supporting the employees, customers, and supplies to fight against the virus. Furthermore, in February 2020, GSK has collaborated with the Clover for the evaluation of coronavirus vaccine candidate with a pandemic adjuvant system. By taking situational decision and implementing such effective business development strategies, market leaders are preparing for the post-COVID- 19 impact.
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- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Antiviral Therapy Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity