European Antiviral Drugs Market size is estimated to surpass USD 8.7 billion by 2027, according to a latest forecast report by Graphical Research.
Increasing incidence of viral infection such as coronavirus, hepatitis, respiratory syncytial virus (RSV) infection, and AIDS is driving the demand for anti-viral drugs. Moreover, increasing geriatric population that are highly susceptible to infections will augment the industry size. For instance, elderly population suffering from diabetes mellitus, hypertension, cardiovascular disorders and several other comorbidities is at far greater risk of acquiring COVID-19 as compared to healthy individuals. Better understanding of viral infection has resulted in invention of several target therapies and an increase in drug adoption.
Technological advancements and rising healthcare expenditure will expedite European antiviral drugs market demand. Novel drug therapies are being developed for treating Hepatitis and HIV AIDS with higher efficacy. Additionally, COVID-19 pandemic has created demand for targeted drugs to effectively treat the infection symptoms. In February 2020, National Medical Products Administration of China granted approval for Favilavir against coronavirus infection to its developer Zhejiang Hisun Pharmaceutical.
The protease inhibitors segment value was over USD 1.5 billion in 2020. Protease inhibitors are one type of antiretroviral drugs used to treat HIV. Increasing incidence of HIV resulted in rise has stimulated the use of protease inhibitors. According to the European Centre for Disease Prevention and Control, HIV affects more than 2 million people in the WHO European region.
The generic antiviral drugs market segment will witness significant growth through 2027 as increasing cost of branded drugs has increased the demand for generic drugs in the market. The usage of generic drugs significantly reduces the overall hospital cost for the patients. Thus, sharp rise in medical treatment due to high priced branded medicine and increasing production of cost-effective generic drugs in developing regions will augment the growth of the market.
The hepatitis segment revenue exceeded USD 2 billion in 2020 owing to increasing incidence of hepatitis coupled with increasing drug approval for the treatment of hepatitis. According to the World Health Organization, member states of the European Union (EU) have 8.7 per 100,000 hepatitis incidence rate.
Browse detailed statistical insights from the report, “Europe Antiviral Drugs Market Size By Age Group (Pediatric, Adult, Geriatric), 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 Type (Branded, Generic), Research Report, Country Outlook (Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, Sweden, Switzerland), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @https://www.graphicalresearch.com/industry-insights/1737/europe-antiviral-drugs-market
The adult segment size surpassed USD 3,048 million in 2020 attributed to increasing burden of various chronic and infectious disease among adult population. Rising incidence of HIV, hepatitis C, influenza, HSV, and coronavirus are further adding growth to segment. Moreover, long hospital stays and increasing cost of hospitalization among adult population will fuel the segment growth.
UK antiviral drugs market accounted for considerable share in 2020. Presence of large patient pool and availability of advanced healthcare facilities will boost the market growth in the country. Moreover, presence of industrial players and increase in research and development activities will impel the market revenue. In addition, increasing drug trial and speedy approval of drugs will boost the market demand. For instance, in May 2020, UK confirmed the launch of new trial for Remdesivir for coronavirus patients.
Major players involved in the market are Gilead Science, GlaxoSmithKline, plc, Johnson & Johnson, Merck & Co. Inc, AstraZeneca, and Abbvie. These companies are scaling up production and increasing research and development on anti-viral drugs. Moreover, these players are also undertaking various strategic initiatives such as mergers & acquisitions and licensing & partnerships. For instance, in June 2020, AstraZeneca approached Gilead for merger. The UK based company, informally contacted Gilead for the tie-up for anti-viral drug manufacturing.
The European 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:
Europe Market, By Drug Class
- DNA Polymerase Inhibitors
- Reverse Transcriptase Inhibitors
- Protease Inhibitors
- Neuraminidase Inhibitors
Europe Market, By Indication
- Herpes Simplex Virus (HSV)
- Coronavirus Infection
Europe Market, By Type
Europe Market, By Age Group
The above information has been provided for the following countries:
- The Netherland s