InsightAce Analytic Pvt. Ltd. announces the market assessment report on “Global COVID-19 Therapeutics Market– By Trends, Industry Competition Analysis, Clinical Trial/Pipeline Analysis, Revenue and Forecast Till 2030.”
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According to the latest market intelligence report by InsightAce Analytic, the global COVID-19 therapeutics market size is valued at US$ 5.26 Billion in 2020, and it is expected to reach US$ 25.6 Billion in 2030, recording a promising CAGR of 10.7% from 2021 to 2030.
COVID-19 virus causes respiratory illness in humans. It may cause severe disease in the geriatric population (Mainly those with diabetes, chronic respiratory disease, cardiovascular disease, and cancer). The increasing outbreak of covid-19 is increasing the demand for coronavirus vaccines, which will result in an expansion of the COVID-19 therapeutics market over the forecast period. According to the WHO (World Health Organization), globally, 175,847,347 confirmed cases of COVID-19, including 3,807,276 deaths, were reported to WHO as of June 15, 2021. Covid-19 cases are increasing day by day, and there is no officially approved drug for COVID-19. Currently, to check the safety and effectiveness of COVID-19 therapeutics, many drug therapies are going through the processes of clinical trials and validations, causing a delay in the drug development process. Many countries are facing a shortage of drugs likely to offer growth opportunities for pharmaceutical drug manufacturers. Leading market players are also making efforts to develop innovative and efficient covid-19 drug therapies, resulting in overall market growth.
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Major factors responsible for the growth of the COVID-19 therapeutic market are the fast adoption of advanced technologies, the growing number of corona patients, increasing healthcare expenditures, rising awareness about coronavirus, and increasing efforts by the pharmaceutical companies to develop covid-19 therapeutic drugs. For instance, Eli Lilly and Company is donating COVID-19 therapies to Direct Relief, enabling the humanitarian organization to provide COVID-19 treatments at no cost to low- and lower-middle-income countries most heavily impacted by the pandemic. Furthermore, increasing research investments for the R&D of covid-19 therapeutic drugs is anticipated to drive market growth in the future. However, the high cost required to validate therapies and long-term clinical trials limit the COVID-19 therapeutics market growth.
During the forecast period 2020-2030, North America COVID-19 therapeutic market is expected to dominate the COVID-19 therapeutics market, owing to advancement of technologies, growing awareness about coronavirus, rising government initiatives for R&D of covid-19 vaccines, and an increasing number of market players in this Region. On the other hand, the European region will also hold the largest share of this market during the forecast years due to rising government initiatives in R&D and increasing demand for covid-19 treatment options. Furthermore, Asia Pacific COVID-19 therapeutic market is estimated to be the fastest-growing regional market in the future, attributed to the increasing number of corona patients, rising awareness about the covid treatment options and healthcare facilities, and entry of new players in the market.
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Some of the key Players of COVID-19 therapeutics market are Atea Pharmaceuticals, Inc., CytoDyn, Celltrion, Eli Lilly and Company, NRX Pharmaceuticals, Shanghai Junshi Biosciences Co., Ltd., Veru Inc., Humanigen, Inc., Catalent, Inc., Cipla Limited, Molecular Partners AG, Merck, Novartis International AG, Regeneron Pharmaceuticals, Inc., Vir Biotechnology, Revive Therapeutics Ltd., Brii Biosciences Limited, GlaxoSmithKline plc, APEIRON Biologics AG, Bristol Myers Squibb, Janssen Pharmaceuticals, Trevena Inc, Ono Pharmaceutical Co., Ltd., Constant Therapeutics LLC, Amarin Corporation plc, FUJIFILM Toyama Chemical Co., Ltd., NeuroBo Pharmaceuticals, Inc., Innovation Pharmaceuticals Inc., Bellerophon Therapeutics, Sorrento Therapeutics, PhaseBio, Pfizer, Takeda, BioAegis Therapeutics, Roivant Sciences, A.I. Therapeutics, Inc., Celltex Therapeutics, Blade Therapeutics, Marinomed Biotech AG, Synairgen, SAb Biotherapeutics, Romark Laboratories, L.C., Kiniksa Pharmaceuticals, UNION therapeutics A/S, Fulcrum Therapeutics, and Other Prominent Players.
On June 1, 2021, NRx Pharmaceuticals announced that it had filed an application with U.S. FDA (Food and Drug Administration) requesting EUA (Emergency Use Authorization) for ZYESAMI (Aviptadil-acetate) to Treat Critically Ill COVID-19 patients suffering from respiratory failure. In addition, in May 2021, NRx Pharmaceuticals, Inc. (NRXP) announced that it signed a master services agreement to perform Phase 3 clinical trials of COVID-19 drugs and vaccines in Central Europe and the Caucasus Region.
In April 2021, Atea Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, announced that the first patient had been dosed in the Phase 3 MORNINGSKY trial, a global multicenter trial evaluating AT-527 in moderate or mild COVID-19 patients in an outpatient setting.
In April 2021, CytoDyn Filed New Protocol with U.S. FDA for 4 Doses of Leronlimab for Critically Ill COVID-19 Patients with the Objective to Duplicate or Surpass 82% Survival Benefit with P-Value of 0.0233 Originally Achieved from Two Weeks of Treatment in CD12 Trial With 2 Doses.
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The Global COVID-19 therapeutic Market Segments
The Global COVID-19 therapeutic Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 based on Infection Type
The Global COVID-19 therapeutic Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 based on Drug Class
The Global COVID-19 therapeutic Market Size (Value US$ Mn) & Forecasts and Trend Analyses, 2020 to 2030 based on Region
North America COVID-19 therapeutics market revenue (US$ Million) by Country, 2020 to 2030
Europe COVID-19 therapeutics market revenue (US$ Million) by Country, 2020 to 2030
Asia Pacific COVID-19 therapeutics market revenue (US$ Million) by Country, 2020 to 2030
Latin America COVID-19 therapeutics market revenue (US$ Million) by Country, 2020 to 2030
Middle East & Africa COVID-19 therapeutics market revenue (US$ Million) by Country, 2020 to 2030
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