Published Date: 2021-03-30
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APAC Antiviral Drugs Market size is projected to cross USD 7.2 billion by 2027, according to a latest forecast report by Graphical Research.
Increasing geriatric population coupled with rising incidence of infectious diseases in the region will drive Asia Pacific antiviral drugs market growth. High risk of hospital-acquired infections further contributes to increasing patient admissions with pathogenic infections. According to the China Center for Disease Control, per day, about 400 people were diagnosed as positive for HIV in 2018. Additionally, rising patient population with hepatitis, HSV and influenza will stimulate the regional product demand. Furthermore, increasing healthcare expenditure in emerging economies will impel the regional market value.
Product advancements and adoption of R&D activities by pharmaceutical companies will foster Asia Pacific antiviral drugs market revenue. This will further result in increasing product launches in the region. For instance, generic drug manufacturer Dr Reddy’s Laboratories announced the launch of antiviral drug, Avigan (Favipiravir), for the potential treatment of mild to moderate Covid-19 patients in India, developed by the innovator Japanese drug firm Fujifilm Toyama Chemical Co.
The protease inhibitors segment held around 18% market share in 2020. Protease inhibitors are considered as highly active antiretroviral therapy drug class due to its effectivity in HIV treatment. Innovation and development leading to reduced side effects has escalated the product adoption. In addition, protease inhibitors have shown promising results in HIV treatment that will assist in reducing the growing HIV burden. Thus, owing to the increasing demand for highly efficient drug therapy, thereby boosting the R&D and production of ARV drugs, the industry will witness robust growth over projection period.
Coronavirus infection segment has primarily driven the market expansion during COVID-19 pandemic. The incidence of coronavirus outbreak has affected millions of people in the region that has boosted anti-viral development and launches by the companies. For instance, over 11 million people with COVID-19 were reported in India as of mid-April 2021. Moreover, the rate of infection is continuously increasing in some countries. Thus, to cater to the growing demand, institutes and organizations are extensively focusing on development for COVID-19 therapies.
Browse detailed statistical insights from the report, “Asia Pacific Antiviral Drugs Market By Type (Branded, Generic), By Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors), By Indication (Influenza, HIV AIDS, Hepatitis, Herpes Simplex Virus [HSV], Coronavirus Infection), By Age Group (Pediatric, Adult, Geriatric), Research Report, Country Outlook (Japan, China, India, Australia, South Korea, Singapore, Indonesia, Thailand, Malaysia, Philippines) Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @https://www.graphicalresearch.com/industry-insights/1738/asia-pacific-antiviral-drugs-market
The generic antiviral drugs segment size was over USD 1.5 billion in 2020. Generic medications broaden accessibility with its cost-associated benefits. Increasing availability and awareness regarding various generic therapeutics for common disease conditions including flu will contribute to the segment revenue. In addition, favorable policies and government initiatives to offer high cost treatment at considerable prices to low-income group of people will provide growth opportunities to generic manufacturers in the region.
The adult segment dominated 30% market share in 2020attributed to rising adoption of antiviral drugs among adults will primarily drive the segment growth. In addition, efforts taken by government organizations further increases drug accessibility in the region. The WHO Western Pacific Regional Office works on improving prevention, testing and treatment of hepatitis among adults by advocating testing approaches and providing technical support to countries establishing testing and service delivery models. Further, growing prevalence of STDs among adults with awareness initiatives provides unprecedented growth opportunities to the market.
China antiviral drugs market held around 16% revenue share in 2020. COVID-19 pandemic has primarily driven the industry growth in the country. Increasing investment in R&D and presence of leading manufacturers will fuel the industry growth in the country. Furthermore, rising government funding and developing infrastructure that provides broader treatment accessibility will propel the market growth in foreseeable future. Moreover, growing prevalence of sexually transmitted diseases along with other viral infections will impel the market demand.
Major key players in the Asia Pacific antiviral drugs market are AbbVie Inc., Gilead Sciences, Merck & Co., Bristol-Myers Squibb, GlaxoSmithKline and Aurobindo Pharma Ltd. among several others. These companies are undertaking various market strategies such as collaboration, product innovation, mergers and acquisitions to set their footprint in the region. For instance, in June 2020, Glenmark announced the launch of FabiFlu (Favipiravir) for treatment of COVID-19 with mild to moderate symptoms. This product launch has sustained its competitiveness in the market with continued revenue growth during COVID-19.
The APAC antiviral drugs market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Drug Class
Asia Pacific Market, By Indication
Asia Pacific Market, By Type
Asia Pacific Market, By Age Group
The above information has been provided for the following countries:
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