The North America anti-viral therapies market is expected to reach US$ 31,092. 80 million by 2027 from US$ 16,312. 45 million in 2019; it is estimated to grow at a CAGR of 8. 5% during 2020–2027.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Anti-Viral Therapies Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Mechanism of Action, and Application, and Country" - https://www.reportlinker.com/p05978889/?utm_source=GNW
The anti-viral therapies market is growing primarily due to the increasing R&D expenditures by pharmaceutical companies and rising government support for research activities and clinical trials in North America.Additionally, strong pipeline of anti-viral drugs, and growing emphasis on launching anti-viral agents are likely to fuel the growth of the market during the forecast period.
However, the high costs of drug development restrain the growth of the market.
Antiviral therapy is one of the most exciting branches of virology. These therapies are based on several strategies—direct-acting antivirals target viral proteins, enzymes, or nucleic acids; passive antibodies neutralize circulating viruses; and several other antivirals target cellular proteins or processes essential for viral replication.
The growing antiviral drugs market and its product pipelines are further opening up new avenues for generic drug manufacturing in North America.Over the past 30 years, the drug manufacturers have succeeded in increasing effectiveness, safety, and convenience of antiviral drugs used in treating HIV infection.
Despite currently approved 31 drugs, the pipeline of investigational HIV drugs is extensive. For instance, in 2019, Gilead Sciences has bolstered its pipeline of antiviral drugs through a potential licensing deal worth more than US$ 320 million with DURECT (announced on July 23, 2019) and a a purchase of three preclinical antiviral programs worth more than US$ 291 million from Novartis.
There has been a rapid rise in drug development in the field of HIV treatment in North America.New nucleoside analogues (NRTI), non-nucleoside analogue reverse transcriptase inhibitors (NNRTI), and protease inhibitors (PI) are currently being investigated in human trials.
Further, the ongoing developments in inhibitors of HIV attachment, fusion, and integrase proteins, with novel modes of action, offer new perspectives for the normalization of life-expectancy in HIV-infected individuals.Anti-viral therapies mostly benefit early-stage drug innovators owing to error-free development procedure.
Moreover, to meet the growing demand, many contract-based organizations are expanding their manufacturing capabilities in the emerging nations, further boosting the growth of the market.
North America has been witnessing growing number of COVID-19 cases since its outbreak.In the US, the FDA has approved the emergency-use authorization of experimental drugs.
Clinical trials of Remdesivir, monoclonal antibodies, interferons, ACE inhibitors, and hydroxychloroquine have all been registered in the US.Further, American pharmaceutical companies are taking tremendous efforts to develop drugs and vaccines for the COVID-infected patients.
AbbVie, Harbour BioMed (HBM), Utrecht University (UU), and Erasmus Medical Center (EMC) have collaborated to develop a novel therapeutic antibody to prevent and treat COVID-19. Thus, the rising incidence of COVID-19 is escalating the demand for antiviral drugs in North America.
In 2019, the branded drugs segment accounted for a larger share of the North America antiviral therapies market.Branded antiviral drugs are trusted more than the generic drugs.
Further, robust research and development activities, increasing number of drug discoveries, and rising number of patents are likely to favor the growth of the branded antiviral drug market during the forecast period.
A few of the major secondary sources associated with the North America anti-viral therapies market report are the World Health Organization (WHO), pharmaceutical Research and Manufacturers of America (PhRMA), and Centers of Disease Control and Prevention (CDC).
Read the full report: https://www.reportlinker.com/p05978889/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001