The Business Research Company’s Global Anti-Viral Drug Therapy Market Report 2020-30: Covid 19 Implications And Growth
LONDON, GREATER LONDON, UK, November 15, 2020 /EINPresswire.com/ — The global anti-viral therapy drug market reached a value of nearly $46,456.4 million in 2019, and is expected to grow from $46,456.4 million in 2019 to $ 61,571.9 million in 2020 at a rate of 32.5%. The growth is mainly due to the increase in number of COVID-19 cases. The anti-viral drug therapy market size is then expected to grow at a CAGR of 8.3% from 2021 and reach $74,385.9 million in 2023.
The anti-viral combination drug therapy market is expected to benefit from the latest developments in drug discovery procedures such as stem cells and organ-on-chip (OOC) technologies. OOCs are micro-engineered biometric systems that simulate the activities, mechanics and physiological responses of organ systems. Drug trial processes such as target identification, validation, and screening are being executed through OOC and stem cell technologies. These technologies are considerably reducing the drug discovery costs and generating reliable predictions on drug efficiency and human safety. Another area of development is physiology-simulation modelling, in which the integrated physiology of the human organism, in both health and disease, is simulated through a computer program. Eli Lilly and Pfizer have adopted Amazon’s Elastic Compute Cloud (EC2) platform to conduct simulation models in early stages of the drug discovery process that are operational within hours, whereas traditional models take weeks to conduct simulations. The wide adoption of these technologies is expected to drive the anti-viral drug market size in the forecast period.
The anti-viral drug therapy market consists of sales of anti-viral drugs used for the treatment of viral infections, such as human immunodeficiency virus (HIV), hepatitis, influenza and novel coronavirus. Antiviral drugs do not kill their target pathogen, instead they inhibit the development of those viruses. The anti-viral drugs establishments are primarily engaged in the manufacturing of DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others.
The antiviral therapy market is segmented by drug class into DNA polymerase inhibitors, reverse transcriptase inhibitors, protease inhibitors, neuraminidase inhibitors, and others. By application, the market is segmented into HIV, hepatitis, herpes, influenza, and others.
Companies in the anti-viral therapies drug market are continuously innovating through technological advancements to develop drugs to treat different viral infections. Biopharmaceutical companies are developing vaccines for the treatment of novel coronavirus. Technological advances in the pharmaceutical sector include development of nucleic acid vaccines that are DNA- and RNA-based, and which enable the human body to produce vaccine antigen. Applied DNA Sciences’ subsidiary LineaRx and Takis Biotech formed a joint venture to develop a linear DNA vaccine as a treatment for coronavirus. The JV will use Polymerase Chain Reaction (PCR)-based DNA manufacturing technology to develop the vaccine. Such initiatives and activities are projected to support market growth to a significant extent.
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