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North American Antiviral Drugs Market size to cross $24 Bn by 2027
Published Date: 2021-03-24
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North American Antiviral Drugs Market size is anticipated to reach USD 24 billion by 2027, according to a latest forecast report by Graphical Research.
Incidence of COVID-19 has stimulated the development activities in the region. Several market players in the region are focusing on development of anti-viral therapies for COVID-19 infection. There are more than 30 million people with coronavirus infection in the U.S. and over 900,000 in Canada. Government and non-government organizations are also providing funding for COVID-19 anti-viral candidate discovery. For instance, the Government of Canada invested USD 27 million in coronavirus research. .
Rising prevalence of other viral infection and sexually transmitted diseases such as HIV, hepatitis, and herpes simplex virus in the region will boost the North American antiviral drugs market growth. According to the Centers for Disease Control and Prevention, about 3,322 new hepatitis B cases were reported in 2018. Additionally, the chlamydia and HPV are among the common STD’s in Canadian youth. With increasing disease-prone population and acceptance of innovative therapeutic treatments, the demand for anti-viral drugs will grow robustly over the forecast timeframe.
The protease inhibitors segment revenue was over USD 4 billion in 2020 attributed to effectiveness of protease inhibitors in HIV treatment. Protease inhibitors restrict the activity of protease enzymes in multiplication of human immunodeficiency virus, thus acting as effective therapeutic treatment against HIV. Therefore, ability of this class of drugs in prevention of virus replication with high prevalence of HIV will impel the product adoption.
The influenza segment is set to observe -4.5% growth rate between 2021 and 2027. According to the Centers for Diseases Control and Prevention, about 16.5 million medical visits associated with influenza were recorded during 2018-2019. Increasing hospitalization rates and prevalence of influenza among U.S. population significantly drives the segment revenue. The burden of influenza in the region in experiencing constant growing trend that will stimulate the treatment therapeutics demand.
Browse detailed statistical insights from the report, “North America Antiviral Drugs Market Size By Indication (Influenza, HIV/AIDS, Hepatitis, Herpes Simplex Virus [HSV], Coronavirus Infection), By Drug Class (DNA Polymerase Inhibitors, Reverse Transcriptase Inhibitors, Protease Inhibitors, Neuraminidase Inhibitors), By Type (Branded, Generic), By Age Group (Adult, Pediatric, Geriatric), Research Report, Country Outlook (U.S., Canada), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
Generic antiviral drugs market size surpassed USD 6.5 billion in 2020. Availability of range of generic drugs in the market boosts the product adoption. The cost-efficiency of generic anti-viral enables increased accessibility of the therapeutics. Thus, affordability of treatment to broader population with relatively lower healthcare spending capabilities in the region. Moreover, numerous firms are competing on cost benefits associated with drugs to drive preference for their medications.
The geriatric segment dominated around 40% market revenue share in 2020 due to reduced immunity and resistance to viral pathogens with aging in elderly population. For instance, according to the Centers for Disease Control and Prevention, about 57% of hospitalizations were reported in people aged 65 years and more, accounting for 75% of influenza-related casualties during 2018-2019. Additionally, geriatric population is highly exposed to severe hospital acquired infections with frequent visits owing to existing chronic diseases that will further contribute to product adoption.
Canada antiviral drugs market revenue valued at USD 1.5 billion in 2020 on account of rising demand and adoption of anti-viral drugs with growing disease burden will propel the market growth. High risk of infections among elderly population that creates demand for anti-viral therapies will further positively impact the market revenue. Furthermore, increasing development and launch of anti-viral drugs by regional companies will aid in market expansion.
Renowned players in the market are AbbVie Inc., Gilead Sciences, Merck & Co., and Bristol-Myers Squibb, among others. These market players are formulating various strategies such as agreements, acquisitions, and geographic expansion to broaden their market foothold in the region. For instance, in March 2020, Cyclica, a Canadian company, announced strategic collaboration with Institute of Materia Medica and Chinese Academy of Medical Sciences for the discovery and development of COVID-19 anti-viral drugs.
The North American 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:
North America Market, By Drug Class, 2016-2027 (USD Million)
- DNA polymerase inhibitors
- Reverse transcriptase inhibitors
- Protease inhibitors
- Neuraminidase inhibitors
North America Market, By Indication, 2016 – 2027 (USD Million)
- Herpes Simplex Virus (HSV)
- Coronavirus infection
North America Market, By Type, 2016 – 2027 (USD Million)
North America Market, By Age Group, 2016-2027 (USD Million)
The above information has been provided for the following countries:
- North America