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The rising focus on immunization and the rising prevalence of COVID-19 cases are major factors projected to impel the growth of the Antiviral Drug Market

HYDERABAD, TELANGANA, INDIA, January 11, 2023 /EINPresswire.com/ -- Antiviral Drug Market was valued at $ 58.2 billion and is anticipated to grow at a CAGR of 4.1% during the forecast period 2020-2025. The Antiviral Drug Market growth rate is attributed to increasing in the incidence rate of viral infection treatments such as HIV, herpes, hepatitis, influenza, and others as most of these drugs are used for specific viral infections, along with the rising focus on immunization. With the rise in COVID-19 cases in various countries, antiviral drug developments are set to contribute to the growth of the market during the forecast period 2020-2025. As most of the leading pharmaceutical companies are focused on the research and development of antiviral drugs for the pandemic.

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Key Takeaways

1. North America dominated the Antiviral Drug Market with a share of 39%.

2. Factors such as the development of novel antiviral therapies aided with the rising burden of several diseases across the globe, especially the developing ones a major factor projected to impel the growth of the Antiviral Drug Market.

3. Strong government support for the treatment of viral diseases through the establishment of government-aided hospitals and pharmacies along with an improved supply network are the key factors owing to the growth in the segment during the forecast period 2020-2025.

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Segment Analysis

The Miscellaneous Antivirals segment dominated the Antiviral Drug Market and is estimated to grow at a CAGR of 3.87% during the forecast period 2020-2025. The leading market share can be attributed to the fact that most of the drugs under this category are associated with the treatment of medical conditions like CMV Gastroenteritis, CMV Prophylaxis, CMV Retinitis, Hepatitis C, HIV Infection, and Influenza; as these conditions have high incidence rate in viral infections across the globe, it is anticipated to boost the Antiviral Drug Market in the forecast period.

2. On the basis of Disease Indications type, Human Immunodeficiency Virus held the major share of the market in terms of revenue in 2019. The reason behind the dominance is the rising incidence of HIV infections. However, the participation of WHO and the governmental bodies in the development of guidelines on HIV-preventive interventions and evaluation of HIV preventive capacity of drug treatment and services is to enhance the overall market of Antiviral Drugs in the forecast period 2020-2025.

3. North America dominated the Antiviral Drug Market with a share of 39%. The application of antiviral drugs has grown rapidly over the last few years. U.S. remains the largest consumer of antiviral drugs in the North America region, owing to the burgeoning cases of HIV Infections and increasing investments by governmental and non-governmental organizations for evaluation of HIV 8preventive capacity of drug treatment and services. However, the Europe region is estimated to grow at a fast CAGR during the forecast period 2020-2025 owing to an efficient reimbursement of healthcare policies and new launches which can be directly administered to boost the market in Europe.

Competitive Landscape:

The top 5 players in the Antiviral Drug Market Industry are -

1. Glaxo Smith Kline plc.
2. Merck & Co. Inc.
3. Bristol-Myers Squibb Company
4. Gilead Sciences
5. Novartis AG

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Related Reports:

A. Antivirals Market
https://www.industryarc.com/Report/15603/antivirals-market.html

B. Anti-Infective Drugs Market
https://www.industryarc.com/Report/15693/anti-infective-drugs-market.html

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