Antiviral Drug Market With Steady Post-Covid Growth
Annual revenue with antiviral treatments like anti-HIV drug Biktarvy pushed to market by U.S. company Gilead in 2018 is expected to increase to $55 billion by 2029. This is an increase of $4 billion or eight percent from the estimated revenue in 2024 according to data modeling by Statista Market Insights analysts. The antiviral drug market has been steadily expanding since dropping below $40 billion by 2020, with a sudden spike in 2022 related to the coronavirus pandemic.
While the demand for drugs like Biktarvy to combat the ongoing global HIV/AIDS epidemic remained strong throughout the period analyzed, new antiviral treatments for the novel coronavirus led to a record-high revenue of $64 billion in 2022, up from $42 billion the year prior. One of the main drivers was the drug Paxlovid developed by U.S. biotech company Pfizer, which also produces the COVID-19 vaccine Comirnaty in conjunction with BioNTech. According to financial statements released by the company, Paxlovid generated around $19 billion in sales in 2022. With the need for dedicated coronavirus drugs decreasing from 2023 onward, revenues in the antiviral drug markets are expected to normalize in the coming years.