Market Trends of Anti-Viral Therapeutics Industry
This section covers the major market trends shaping the Anti-Viral Therapeutics Market according to our research experts:
Influenza Anti-viral Drugs Segment Expected to Hold Significant Market Share over the Forecast Period
Influenza is an infection of a part of the respiratory system, i.e., the nose, throat, and lungs. The primary reason for the growth of the influenza anti-viral drugs segment is the global prevalence of influenza and the increasing number of drug launches. According to the data published by the Centers for Disease Control and Prevention, in February 2022, the common cold causes 22 million school days to be missed each year in the United States. Also, in the United States, almost 1 billion people have colds each year. Furthermore, according to the estimates published by the Centers for Disease Control and Prevention (CDC), 1,675 (0.2%) of 818,939 respiratory specimens tested by United States clinical laboratories were found positive for an influenza virus from September 28, 2020, to May 22, 2021.
To cater to the significant unmet needs in the market, players are focusing on research & development with potential candidates. For instance, in August 2022, Genentech, a member of the Roche Group, announced that the United States FDA had approved a supplemental New Drug Application (sNDA) for Xofluza (baloxavir marboxil) for the treatment of acute, uncomplicated influenza in otherwise healthy children aged between 5 years to less than 12 years, who have been symptomatic for no more than 48 hours. The novel launch of products from this strong pipeline is anticipated to propel market growth over the forecast period.
Therefore, the factors mentioned above are expected to drive segmental growth in the market during the forecast period.
North America Expected to Continue Market Dominance over the Forecast Period
North America is anticipated to continue to dominate the anti-viral therapeutics market over the forecast period due to the presence of well-established market players along with the growing prevalence of HIV and other viral infections. For instance, according to an article published by HIV.gov, in October 2022, approximately 1.2 million people in the United States had HIV. About 13% are unaware of the disease and need HIV testing. Furthermore, the market's growth in the North American region is also attributed to the increasing investments in research & development by major players and robust drug approvals by the US Food and Drug Administration (FDA) in recent years. For instance, in December 2021, the FDA considered authorizations for Pfizer's PAXLOVID and Merck & Co.'s MOLNUPIRAVIR, the first two oral COVID-19 antivirals.
Similarly, product approval is another factor driving the growth of the market. For instance, in December 2021, Pfizer Inc. announced that the United States FDA had authorized the emergency use of PAXLOVID to treat mild-to-moderate COVID-19 in adults and pediatric patients with positive results of direct SARS-CoV-2 viral testing and who are at high-risk for progression to severe COVID-19.
Thus, owing to the abovementioned factors, the North American region is expected to drive market growth during the forecast period.
