Global Anti-Viral Therapeutics Market Perceived to Develop Substantially with a Strong CAGR of 6.2% by 2023

Orbis Research announces that it has released a new market research report on “Global Anti-Viral Therapeutics Market” to its database.

Dallas, United States – May 10, 2018 /MarketersMedia/ —

The global anti-viral Therapeutics market is expected to register a CAGR of 6.2% during the forecast period, 2018 to 2023. North America dominates the market due to growing prevalence of Hepatitis C & HIV infections, coupled with the presence of huge patient pool suffering from virally infectious diseases.

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High Prevalence of Different Viral Infection
According to the World Health Organization (WHO), it is estimated that in 2015, nearly 36.7 million individuals had HIV. It has been identified that most of this prevalence is in low and middle-income countries. According to UNAIDS in 2016, around 1.8 million people with new HIV infection were reported worldwide. In 2017, 20.9 million people were accessing antiretroviral therapy, globally. The huge patient pool indicates high demand for anti-viral drugs, which will likely drive the market growth during the forecast period.Other factors that drive the market include increasing initiatives by public and private companies, advancements in molecular biology promoting drug development, and a strong pipeline for antiviral drugs.

Therapeutics Going Off-patent
Therapeutics losing patent exclusivity affects the market largely. Along with the innovator company, there are many regional/local players in the market. Due to this, the prices of the Therapeutics come down rapidly and the overall market gets affected. In the year 2016 itself, quite a few HIV Therapeutics had gone off-patent. Epzicom, Trizivir, Norvir, and Kaletra lost patent exclusivity in 2016. Abbott’s Kaletra has more than 8% share in the HIV anti-virals market. This will greatly affect the market for anti-viral drugs.The high cost of anti-viral drug treatment also hinders the growth of the market.

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North America to Dominate the Market
North America dominates the global anti-viral Therapeutics market owing to the presence of well-established market players, and growing prevalence of HIV and Hepatitis C infections. Asia-Pacific is expected to grow tremendously during the forecast period owing to factors, such as high prevalence of HIV infection, growing awareness regarding HIV infection, and increasing collaboration between public and private sectors to provide affordable treatment to the low and middle-income countries.

Key Developments in the Market
February 2018: Gilead Sciences Inc received approval from US Food and Drug Administration (FDA), for Biktarvy, a daily single tablet regimen (STR) for the treatment of HIV-1 infection.
August 2017: AbbVie received approval from US Food and Drug Administration, for MAVYRET (glecaprevir/pibrentasvir), treatment for adults with chronic hepatitis C virus (HCV) infection.

Major Players: ABBVIE, INC., BRISTOL-MEYRS SQUIBB COMPANY, CIPLA, INC., F. HOFFMANN-LA ROCHE LTD., GILEAD SCIENCES INC, GLAXOSMITHKLINE PLC, MERCK & CO., INC., PFIZER INC., SANOFI, AND JOHNSON & JOHNSON, amongst others.

Reasons to Purchase this Report
Current and future global anti-viral therapeutics market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet (in excel)

Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.

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Companies Mentioned:
ABBVIE, INC., BRISTOL-MEYRS SQUIBB COMPANY, CIPLA, INC., F. HOFFMANN-LA ROCHE LTD., GILEAD SCIENCES INC, GLAXOSMITHKLINE PLC, MERCK & CO., INC., PFIZER INC., SANOFI, AND JOHNSON & JOHNSON

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Release ID: 343657