Market Size of Anti-Viral Therapeutics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.58 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Anti-Viral Therapeutics Market Analysis
The anti-viral therapeutics market is expected to register a CAGR of 4.58% over the forecast period.
The sudden outbreak of COVID-19 had an optimistic effect on the global anti-viral therapeutics market's growth. The strong market growth due to the COVID-19 pandemic was mainly attributed to the increasing focus of major market players on developing COVID-19 drugs. For instance, in January 2022, Pharma major Lupin launched the antiviral drug Molnupiravir in India under the brand name Molnulup for treating COVID-19 adults in the country. Furthermore, Emcure Pharmaceuticals received an Emergency Use Authorisation (EUA) approval from the Drug Controller General of India (DCGI) for launching Molnupiravir to treat mild COVID-19. The company plans to launch the oral drug under the brand Lizuvira in the Indian market. Thus, the market responded to the effect quickly and changed in a way that accelerated market growth.
Similarly, product launches are another factor boosting the growth of the market. For instance, in November 2021, Pfizer Inc. announced its investigational COVID-19 oral antiviral candidate, PAXLOVID, and claimed to significantly reduce hospitalization and mortality rate based on an interim analysis of the Phase 2/3 EPIC-HR (Evaluation of Protease Inhibition for COVID-19 in High-Risk Patients) randomized, double-blind study of non-hospitalized adult patients with COVID-19, who are at high risk of progressing to severe illness. The anti-viral therapeutics market is expected to witness an upsurge mainly due to the increasing patient population in the world. According to WHO, globally, 38.4 million people were living with HIV at the end of 2021. An estimated 0.7% of adults aged 15-49 years worldwide live with HIV; however, the epidemic's burden continues to vary considerably between countries and regions. Thus, with an increase in HIV cases, the need for its therapy increased, leading to market growth.
Moreover, intense research & development pipelines of the major players and increasing product launches are the key drivers in the growth of the antiviral therapeutics market. For instance, in April 2021, Atriva Therapeutics GmbH received USD 12.05 million (EUR 11.4 million) in federal funding. The company will use the funds to advance its drug ATR-002, which is currently in a Phase II clinical study called RESPIRE. Anti-viral therapeutics are commercially available for diseases like influenza, hepatitis C, chickenpox, papilloma, and AIDS.
Thus, the abovementioned factors are impacting the market growth for the anti-viral therapeutics market. However, the high cost of anti-viral drug treatment is expected to restrain the market growth.
