Remdesivir Market to Register Significant Growth until 2025
Increasing number of
COVID-19 hit patients across the globe to drive the growth of global remdesivir
market
According
to TechSci Research report, “Global Remdesivir
Market By Dosage (10 mM*1 mL in DMSO, 5mg, 10mg, 50mg, 100mg), By Route of
Administration (Oral v/s Intravenous), By Dosage Form (Tablets, Frozen
Solution, Lypholized Solution), By Distribution Channel (Hospitals, Clinics,
Drug Stores/Pharmacies, Online, Others), By Application (Ebola, SARS-COV,
MERS-COV, COVID-19), By Region, Forecast & Opportunities, 2025”, the global remdesivir market is expected to grow at an
impressive rate during the forecast period on account of the growing use of the
drug in treatment of various diseases such as COVID-19, Ebola, SARS-COV,
MERS-COV, among others. The use of the drug for treatment of COVID-19, which
once failed in treating Ebola, has now received an orphan drug status and
clinical trials have begun for finding out its use in treating novel
coronavirus disease. At present, Gilead Sciences, Inc. is running phase 3
clinical trials in Asia-Pacific, Europe and United States. The trial is divided
into two parts, the first comprising the use of drug for treating severe cases
and the other for treating patients with moderate symptoms. The study will also
determine if they can reduce the treatment duration from 10 to 5 days. Though
nothing has been proven yet, but the drug is being used on compassionate use
basis for the treatment of COVID-19. However, the drug is still in clinical
trials and has not been approved by the FDA. This might hamper the market growth.
Also, the drug has once failed in treating Ebola, therefore there are various
doubts and myths in the market regarding its use. Additionally, nothing is
known about the cost of this drug and people are anticipating that it will be
quite expensive. This might also slow down the market growth through 2025.
Furthermore, countries have started working on the generic forms of drug, which
might negatively impact the market growth.
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The global remdesivir market is segmented based on dosage, route of administration, dosage
form, distribution channel, application, company, and region. Based on route of
administration, the market can be bifurcated into oral and intravenous. The
intravenous route of administration is expected to dominate the market, since
till date, all the patients have been given the drug through this route only,
for treating COVID-19. Based on dosage form, the market can be categorized into
tablets, frozen solution, and lypholized solution. The tablets segment is
expected to hold a significant market share since tablets can accumulate a
higher dose of active ingredients. Based on application, the market can be
fragmented into Ebola, SARS-COV, MERS-COV, and COVID-19. The COVID-19 segment
is expected to dominate the market on account of its effective use in the
treatment of this disease. Additionally, the drug has entered the phase 3
clinical trials and is expected to come out as potent treatment option for the
pandemic. The drug has also shown encouraging results in animal model for
SARS-COV and MERS-COV.
Gilead Sciences, Inc., Bright Gene, Hainan Haiyao, Kelun Pharma, Hunan
Warrant Pharmaceutical, Cipla, Pfizer, Merck, Cayman Chemical, Dr Reddy's
Laboratories, and others are some of the leading players operating in global remdesivir
market. The companies operating in the market are using
organic strategies such as product launches, mergers and collaborations to
boost their share. For instance, Gilead Sciences, Inc. has announced that it
will be donating 1.5 million doses of the drug for compassionate use.
Additionally, the company has started manufacturing liquid and freeze-dried
forms to increase the supplies.
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“North America is expected to dominate the global remdesivir
market during forecast period on account of the presence of major players
operating in the market. Additionally, Gilead Sciences, which is the developer
of the drug, is also headquartered in California, United States.
On the other hand, Asia-Pacific market is also expected to witness significant
growth on account of the extensive use of the drug for the treatment of COVID-19
in countries like China, Japan, among others. Additionally, the Indian Council
of Medical Research has recently asked the major market players operating in
the Indian pharmaceutical market to manufacture the drug and Dr. Reddy
Laboratories has already started working on its generic form,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Remdesivir Market By Dosage (10 mM*1 mL in
DMSO, 5mg, 10mg, 50mg, 100mg), By Route of Administration (Oral v/s
Intravenous), By Dosage Form (Tablets, Frozen Solution, Lypholized Solution),
By Distribution Channel (Hospitals, Clinics, Drug Stores/Pharmacies, Online,
Others), By Application (Ebola, SARS-COV, MERS-COV, COVID-19), By Region,
Forecast & Opportunities, 2025,” has evaluated the future growth potential of global remdesivir
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global remdesivir market.
Contact
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