Highly infectious diseases such as avian flu, swine flu, and most recently COVID-19, pose an existential threat to human health and safety worldwide. Communicable viral infections account for a substantial portion of healthcare costs. Humanity has managed to successfully eliminate only smallpox and rinderpest (a disease afflicting cattle) so far. World Health Organization (WHO) data states that parasitic diseases trail cardiovascular ailment in terms of mortality rates. The highly complex and everchanging nature of viruses ensures that the anti-viral drugs market should boom in the forecast period from 2020 – 2025.
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Different Strains of Hepatitis Lead to Further Complications in Emerging Economies
As per WHO data, Hepatitis B and C affect a large number of people and are especially problematic as they can lead to further complications such as hepatocellular carcinoma and cirrhosis. Hepatitis B and C, along with hepatitis A and E, typically occur in developing regions with sub-par hygiene standards. Anti-viral drugs have already proven their efficacy against hepatitis C, and this can play a leading role in lowering the mortality rate of liver cirrhosis. Along with hepatitis, annual epidemics of seasonal influenza can lead to severe illness and respiratory failure. In 2021, millions of people are living with both types of herpes simplex virus – HSV-1 and HSV-2. Thus, there is immense scope for key stakeholders in the anti-viral drugs market.
A Spike in Demand Has Led to Shortages of COVID-19 Anti-Viral Drugs Such as Remdisivir
The COVID-19 pandemic has brought the global economy to a standstill and we are emerging from lockdowns on a step-by-step basis. Until vaccine shortages are effectively addressed, COVID-19 is a challenge that will loom on the horizon for some time. There has been an increased rate of anti-viral drugs being launched in the anti-viral drugs market to tackle the novel coronavirus with a prominent one being Remsdesivir, In terms of genome sequencing, COVID-19 has exhibited notable similarities to both MERS and SARS. The large number of clinical trials already underway or in the announcement phase are predicted to boost the anti-viral drugs market for the forecast period assessed.
Top Ten Companies Almost Entirely Control the Anti-viral Drugs Market
The anti-viral drugs market is anticipated to record a modest rate of growth for the period 2020-2025. It is oligopolistic as the top 10 companies hold the lion’s share in the anti-viral drugs market. Mavyret’s low treatment course lasting two months has gained considerable popularity in the anti-viral drugs market. The other leading companies in the anti-viral drugs market are GlaxoSmithKline, AbbVie, Johnson & Johnson, Sino Biopharmaceutical, Merck & Co, Bristol-Myers Squibb, Aurobindo Pharma, Arbutus Biopharma, and Roche.
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Gilead Sciences Pioneer in the HIV Segment of the Anti-viral Drug Market
In 2021, Gilead Sciences is a pioneer in anti-viral drugs and should retain leadership for the assessment period. Nonetheless, robust competition means that it should lose market share in the global anti-viral drugs market – mainly due to decreased sales of HCV. Gilead Sciences is particularly strong in the HIV drug segment with its Biktarvy offering. Along with Biktarvy, Triumeq and Tivicay by GSK, and Genvoya by Torii Pharmaceutical are predicted to be the highest selling products in the anti-viral drugs market until 2025.
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