Antiviral Combination Therapies Market: Introduction
According to the report, the global antiviral combination therapies market was valued at US$ 40.4 Bn in 2019 and is projected to expand at a high CAGR from 2020 to 2030. Antiviral combination therapies are drugs developed using a combination of two or more drugs for the treatment of various viral diseases, including chronic hepatitis B, hepatitis C, and HIV. Combination antiretroviral therapy aids in stopping the virus from making multiple copies of itself in the body. The growth of the global antiviral combination therapies market can be attributed to the increase in investment in research & development for the development of combination medications that aid in fighting antiviral resistance, surge in demand for antiviral combinations for the treatment of HIV, rise in prevalence of viral diseases, and increase in focus on the development of vaccines for fighting the pandemic of COVID-19.
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North America dominated the global antiviral combination therapies market in terms of revenue in 2019 and the trend is anticipated to continue during the forecast period. The market in the region is expected to expand at a high CAGR from 2020 to 2030. The growth of the market in North America can be attributed to rise in prevalence of HIV and hepatitis infections among people. Additionally, strong sales of branded drugs for the treatment of HIV contributed to the high revenue generated from the region in 2019. Furthermore, patent protection of the drugs is likely to contribute to the growth of the market during the forecast period.
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Product Approvals Received by Companies Boost Market Growth
Leading players, such as Celltrion and Gilead, focus on enhancing their market presence through product approvals. This, in turn, will enable them to cater to the rise in demand and consolidate their positions in the antiviral combination therapies market. In September 2019, Celltrion received the U.S. FDA approval for its Temixys, a once-daily combination of two nucleoside reverse transcriptase inhibitors, for the treatment of HIV. In March 2019, Gilead received approval for its Biktarvy (Bictegravir, Emtricitabine and Tenofovir Alafenamide) for the treatment of HIV-1 infection from the Japanese Ministry of Health, Labour and Welfare (MHLW).
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Integrase Inhibitor/NRTI Drug Combination Dominated Global Market
In terms of drug combination, the integrase inhibitor/NRTI segment is projected to account for a major share of the global antiviral combination therapies market during the forecast period. This can be attributed to increase in usage of this drug combination in the treatment of HIV. Additionally, patent exclusivity of these drugs drives the segment.
Antiviral Combination Therapies Market: Prominent Regions
The global antiviral combination therapies market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global antiviral combination therapies market in 2019. The U.S. was a major market for antiviral combination therapies in the region in 2019. The expansion of the market in the country can be attributed to the presence of leading players, rise in usage of antiviral combination therapies for treating viral diseases, strong pipeline of drugs, and increase in research on the development of antiviral combination drugs for treatment of COVID-19.
The antiviral combination therapies market in Asia Pacific is expected to expand at a high CAGR from 2020 to 2030 driven by developing countries such as China and India. The growth of the market in the region can be attributed to rise in prevalence of HIV in India and other countries in Asia. Additionally, increase in trials on combining antiviral drugs with HIV drugs for the treatment of patients with COVID-19 contributes to the growth of the market in the region.
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Focus on Strategic Acquisitions and Partnerships by Key Players to Propel Global Market
The global antiviral combination therapies market is fragmented in terms of number of players. Key players operating in the global antiviral combination therapies market are Celltrion, Inc., GlaxoSmithKline plc, Gilead Sciences, Inc., AbbVie, Inc., Bristol-Myers Squibb Company, Janssen Global Services, LLC (pharmaceutical companies of Johnson & Johnson), Cipla, Inc., Mylan N.V., Merck & Co., Inc., and F. Hoffmann-La Roche Ltd.
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