India Remdesivir Market To Establish Growth Due To Rapid Technological Advancement Until FY2027
Increasing prevalence of the targeted diseases is driving the growth if India Remdesivir Market, FY2017-FY2027.
According to TechSci report on, “India Remdesivir Market By Technology (16-Slice, 32-Slice, 8-Slice, 64-Slice, 128 & Above Slice) By Modality (Fixed v/s Mobile) By Device Architecture (C-arm v/s O-arm) By Application (Cardiology, Oncology, Neurology, Others) By End Users (Diagnostic Centers, Hospitals, Others) By Region, Competition Forecast & Opportunities, FY2027”,India Remdesivir market has shown promising growth in historical years until FY2020 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027. India Remdesivir market owes its growth to the factors like increasing number of the COVID-19 patients in the country along with the surge in the demand with the increasing prevalence of viral diseases like hepatitis, Ebola, COVID-19. Manufacturers are actively involved with the large production of the drug due to the surge in the demand. While the limited knowledge about the safety and efficiency regarding using Remdesivir to treat patients with COVID-19 at hospital and high cost of Remdesivir is expected to obstruct the growth of the Remdesivir market in the above mentioned forecast period. Additionally, the high R&D investment is also lifting the growth of the Remdesivir market.
Remdesivir is an antiviral medication that is developed by the biopharmaceutical company Gilead Sciences. Administered via injection into a vein, the drug manufacturing process started in March 2020 with a research performed by Gilead Sciences Inc. The research was performed on 53 prospective COVID-19 patients out of which only 36 patients showed signs of progress that accounted for about 68% of the total number of patients. World Health Organization has guided the start of clinical trials for the drug along with three other drugs found to be effective in COVID-19 therapy. Remdesivir drug has reached phase 3 of clinical trials and the world hopes it will emerge as a promising treatment for COVID-19. Following these positive trials, the food and drug administration issued permission for the medication to treat Covid-19 for emergency use authorization (EUA). That means the medication has not undergone the same examination as therapies approved by the FDA, but it will allow doctors to prescribe Remdesivir to patients hospitalized with the disease. All supply of drugs will go to the government for allocation across the nation.
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India Remdesivir market segmentations is based on application, route of administration, dosage form, patient age, distribution channel, competitional landscape, and regional distribution. Based on route of administration, the market is further divided between inhalation, intravenous. Intravenous administration is anticipated to hold the larger share of the revenue market and assert the dominance over the market on the account of availability of the drugs in the process. Based on dosage form, the market is further bifurcated into frozen solution, lyophilized solution. The Remdesivir drug is transported by the suppliers in two forms, frozen solution and lyophilized solution. Frozen form of the drug is anticipated to be able to store the drug for longer duration. Cold chain storages and logistics are utilized to distribute the drug from the manufacturer joints to the end users like hospitals, pharmacies etc. Lyophilized solution is the powdered solution of the Remdesivir drug that is solubilized with sterile water and saline.
Some of the top players in the India Remdesivir Market are, Cipla Ltd., Hetero Labs Pvt. Ltd., Jubilant Life Sciences Ltd., Viatris Pharmaceuticals Ltd. (Mylan Laboratories India Pvt. Ltd.), Dr. Reddy’s Laboratories Ltd., Sun Pharmaceuticals Industries Ltd., Zydus Cadila Healthcare Ltd., Pfizer Ltd., Gilead Sciences India Private Limited, Eva Pharma Pvt. Ltd., among others. The companies are involving themselves into research and development for more advanced form of the drug. Remdesivir is the therapeutic drug against the coronavirus, COVID-19 and are in demand owing to the need of the healthcare industry in the country. Although the export of the drug is increasing rapidly to satisfy the consumer demand. New players entering the market may form partnerships with other players or the end users of the industry for a consistent inflow of the product.
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“With the increasing demand of the cure for coronavirus, Remdesivir along with other drugs have instigated the market, due to increased demand and lack of viable drugs. Although the country is still exporting the drug from other countries, the manufacturers available in the country are currently issuing this as an emergency use drug only to treat the patients suffering from extreme conditions of COVID-19,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Remdesivir Market By Technology (16-Slice, 32-Slice, 8-Slice, 64-Slice, 128 & Above Slice) By Modality (Fixed v/s Mobile) By Device Architecture (C-arm v/s O-arm) By Application (Cardiology, Oncology, Neurology, Others) By End Users (Diagnostic Centers, Hospitals, Others) By Region, Competition Forecast & Opportunities, FY2027” has evaluated the future growth potential of India 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 India Remdesivir market.
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