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.
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