Sales of Antiviral Therapies to Soar Through Key End-use Industries During the Forecast Period
According to antiviral therapies market analysis by Research Dive, the global market forecast will surpass $66,016.5 million in 2027, growing at a 3.1% CAGR from $51,913.1 million in the year2019.
Antiviral Therapies Market, COVID-19 Impact:
The global antiviral therapies market has responded positively to the pandemic owing to rise in the utilization of antiviral drugs in the development of effective medicines for the COVID-19 treatment. In addition, leading players in the global marketplace are adopting strategies such as collaborations and partnerships to strengthen their place in the global marketplace. For instance, in May 2020, Merck & Co., Inc. made a collaboration with Ridgeback Biotherapeutics LP, a biotechnology company, to develop EIDD-2801, which is an oral antiviral candidate for treatment of COVID-19 patents. Through this collaboration, both companies aimed to develop innovative, safe and effective vaccines againstSARS-CoV-2 through antiviral therapies. This factor is predicted to fuel the growth of the market in the pandemic time.
How COVID-19 Impact on Antiviral Therapies Market. Click Here to Speak our expert Analyst@ https://www.researchdive.com/connect-to-analyst/78
Antiviral Therapies Market, Overview:
The significant factor for the antiviral therapies market growth includes increasing usage of antiviral in HIV diagnosis and hepatitis C treatment. As per Centers of Disease Control and Prevention (CDC), more than 38.0 million people were living with HIV in 2019 and about 52% of the people are were diagnosed with HIV in the U.S. Globally, around 53% of children and 68% of adults were living with HIV/AIDS requiring continuous antiretroviral therapy. Antiretroviral and antiviral therapies have been proven to be an effective way to diagnose HIV/AIDS. This aspect is predicted to fuel the market growth in the estimated time. Further, there has been adoption of new technologies such as nanotechnology in the manufacturing of antivirals to produce improved drugs that are capable of functioning against emerging viral diseases. This aspect is anticipated to create ample growth opportunities for the market in the upcoming years. However, high cost of the treatment and drug price are major limiting factors for the antiviral therapies market growth in the forecast timeframe.
Antiviral Therapies Market, Segmentation Analysis:
The herpes antiviral drug type is expected to rise at a faster rate and is predicted to reach a revenue up to $5,480.7 million by 2027. Increasing cases of herpes among population in the world is estimated to be the main boosting factor for the market growth in the prediction period. According to National Institutes of Drugs,...
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