(MENAFN- Big Market Research) Post COVID-19 Impact on Antiviral Therapy Market
With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.
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•Long-term and short-term impact of Covid-19 on the market
•Cascading impact of Covid-19 on Antiviral Therapy Market, due to the impact on its extended ecosystem
•Understanding the market behaviour Pre- and Post-COVID-19 pandemic
•Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
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In the past few years, there has been a considerable demand for antiviral therapies from the developing as well as developed countries. A large number of people all around the world are relying on antiviral drugs to treat several diseases. A few years ago, the similar population base was relied on home remedies to cure infections and uncomplicated diseases. This kept these anti-viral therapies market to develop at a sluggish rate. However, in the recent years, advancements in medical sciences and technology have created a huge availability of these drugs. Earlier, antiviral drugs were referred as some sort of luxury, but with the help of these developments, the antiviral drugs became easily available to common masses and the production rate also doubled. Certainly, the reliance over home remedies and cure decreased as there came the easy availability more effective and medically proven drugs. Furthermore, with the mass production and accessibility of these antiviral drugs they became cost effective and also gained popularity in the healthcare sector. Thus, the global anti-viral therapies market has experienced an enormous growth in recent years.
Antiviral Therapy Market Segmentation by Drug Type
•Herpes Antiviral Drugs
•Hepatitis Antiviral Drugs
•HIV Antiviral Drugs
•Influenza Antiviral Drugs
Benefits of Anti-Viral Therapies
As per a Research Dive blog , antiviral therapies work best when started soon after flu illness arise. When treatment is started within 48 hours of becoming sick with virus symptoms, antiviral drugs reduces the flu symptoms and fever, and also cuts the time for the sick patient by about one day. Antiviral drugs also reduce the risk of complications such as respiratory complications requiring antibiotics, ear infections in children, and hospitalization in adults. For people at high risk of serious flu complications, an early treatment provided with an antiviral drug may prove in having milder illness instead of more severe illness where the patient needs to be hospitalized. According to some studies, antiviral drugs can also reduce the risk of death in adults with flu illness.
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•Hospital Pharmacy
•Independent Pharmacy and Drug Store
•Online Pharmacy
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There are a number of reasons behind getting a viral infection and also there are times when these infections may expose as a side effect of other medical treatments. Viral infections are the side effects of the treatment for HIV, respiratory disorders, cancer, diabetes, and other such diseases. There has been a rising demand for antiviral therapies owing to the growing prevalence of these major diseases. Indeed, this has helped in up-surging the growth of global anti-viral therapies market to newer heights.
Additionally, with technological, sociological, and economical advancements, considerable efforts have been made towards achieving a robust and strong healthcare infrastructure across the globe. The outspread and range of antiviral drugs has grown progressively with the help of targeted efforts from organizations such as WHO and Red Cross, which has undoubtedly aided in the growth of the global anti-viral therapies market.
Key Players
•Dr. Reddy's Laboratories Ltd. (NSE: DRREDDY)
•Aurobindo Pharma (NSE: AUROPHARMA)
•Merck & Co. (NYSE: MRK)
•GlaxoSmithKline plc. (LON: GSK)
•Gilead Sciences Inc. (NASDAQ: GILD)
•Cipla, Inc. (NSE: CIPLA)
•Bristol-Myers Squibb Company (NYSE: BMY)
•AbbVie, Inc. (NYSE: ABBV)
•Johnson & Johnson Services, Inc.
•F. Hoffman-La Roche Ltd,
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Global market for anti-viral therapies is predicted to witness a robust growth during the forecast period from 2019 to 2026. Several factors such as rising public awareness regarding viral infections, growth in healthcare spending, increasing investments on R&D, and occurrence of life-threatening diseases are expected to surge the demand for anti-viral therapies market growth.
Expenses involved in the production of antiviral drugs, and growth in the demand for alternative medicines such as naturopathy and homeopathy are projected to hinder the market growth. In addition, increasing preventive measures and awareness about the availability of vaccines for viral infections will also act as a restraint to the market growth for anti-viral therapies.
Rising occurrence of viral infection all across the globe will give significant uplift to the growth of the global market in the coming years. As per the Research Dive report statistics, the global anti-viral therapies market is anticipated to grow at 5.8% CAGR and will surpass $75.6 billion during the period of forecast. The report highlights key players operating in the global market. Some of them are Abbott Laboratories, Gilead Sciences, AbbVie Inc., GlaxoSmithKline, F. Johnson & Johnson, Hoffmann-La Roche Ltd., Brislutol-Myers-Squibb, Schering-Plough Corporation, and Merck & Co., Inc., and AstraZeneca Plc. These players are adopting several strategies such as collaborations, product development, and are also initiating R&D activities to stand strong in the global market.
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