At 17.5% CAGR Coronavirus Treatment Drugs Market To Hit US$ 49,204 Million By 2027, Finds Coherent Market Insights
SEATTLE, April 14, 2021, (PHARMIWEB) — Global Coronavirus Treatment Drugs Market
The Coronavirus or the COVID-19 is a contagious disease, which is caused by novel coronavirus. Generally, the COVID-19 infected patients show common to severe respiratory illness. Some patients recover without any special treatment, whereas the patients aging 50 and above, and the other patients who have previous health issues such as kidney failure, hypertension and diabetes are at highly prone to infection and are required to be treated specially. As of now, there are no specific medications or drugs for the treatment of coronavirus. The patients with mild symptoms are prescribed by health physicians to undergo anti-viral therapies.
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Impact of Coronavirus (COVID-19)
Since the COVID-19 emergence in December 2019, the pandemic has rolled out in over 100 countries globally and is declared as a public health emergency by the World Health Organization (WHO). The treatment of COVID-19 is currently unavailable while numerous pharma companies have prescribed medications for several other health conditions but those are not much successful in treating COVID-19. In October 2020, the U.S. National Library of Medicine claimed that the Remdesivir and dexamethasone are safe for treating patients with moderate and mild symptoms of COVID-19.
Rising cases of COVID-19 pandemic are expected to drive growth of the global coronavirus treatment drugs market over the forecast period. As per the report from World Health Organization (WHO), the COVID-19 has infected over 110 million individual as of February 2021.
Major pharma companies are focusing on development of vaccines and potential treatments for COVID-19 virus. This factor is expected to boost the growth of global coronavirus treatment drugs market over the forecast period. In May 2020, the Washington University of Medicine had begun the investigational testing to study on the effectiveness of Duvelisib drug as a potential treatment for COVID-19.
According to Drug Class
- Monoclonal Antibodies
- Kinase Inhibitors
According to Route of Administration
According to Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
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Every new mutation or variation of COVID-19 requires a new vaccine or drug for treatment which will result in fluctuations in the research work and termination of drug production. This factor is expected to restrain growth of the global coronavirus treatment drugs market during the forecast period.
North America is expected to experience a robust growth in the global coronavirus treatment drugs market over the forecast period. In June 2020, the Tufts Medical Center had done an investigational study on an infliximab drug, which was supposed to diagnose the patients with mild COVID-19 symptoms.
Asia Pacific is also expected to witness a significant growth in the global coronavirus treatment drugs market during the forecast period.
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Major players contributing in the global coronavirus treatment drugs market are Serum Institute of India, Pfizer Inc., AstraZeneca plc, Bharat Biotech International Limited, Cadila Healthcare Limited, Johnson & Johnson, Moderna, GlaxoSmithKline plc, CanSino Biologics, Sinovac Biotech, Novavax, Inc., Glenmark Pharmaceuticals Limited, Dr. Reddy’s Laboratories, and Merck & Co., Inc.About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
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