Coronavirus Treatment Drugs Market to Surpass US$ 49,204 Million by 2027
Global Coronavirus Treatment Drugs Market, by Drug Class (Corticosteroids, Anti-viral, Monoclonal Antibodies, Kinase Inhibitors, and Others), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 15,912 million in 2020 and is expected to exhibit a CAGR of 17.5 % during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Key players are engaged in research and development of treatments for COVID-19 to strengthen their position in the global coronavirus treatment drugs market. For instance, in November 2020, AstraZeneca plc., a British multinational pharmaceutical and biopharmaceutical company, announced results from an interim analysis of clinical trials of AZD1222 (COVID-19 vaccine) in the U.K. and Brazil which showed that the vaccine was highly effective in preventing COVID-19 and stated that there were no hospitalizations or prevalence of severe cases of the disease among participants who were administered the COVID-19 vaccine. The company also stated that there were a total of 131 COVID-19 cases in the interim analysis of COVID-19 vaccine.
Global Coronavirus Treatment Drugs Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically impacted several market across the world. Therefore, governments of various countries are taking initiatives to combat COVID-19.
- Various regulatory bodies are taking initiatives to manage the spread of coronavirus and combat the pandemic. For instance, in May 2020, the U.S. Centers of Disease Prevention and Control, as part of the Whole-of-Government Response US, developed and is continually evaluating and improving the comprehensive surveillance program to generate essential data for tracking the disease spread and guiding the overall response to the COVID-19 pandemic. Moreover, the CDC is working with federal, state, and local partners to improve testing and to advise and support communities during the phased reopening of America.
Browse 33 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on “Global Coronavirus Treatment Drugs Market, by Drug Class (Corticosteroids, Anti-viral, Monoclonal Antibodies, Kinase Inhibitors, and Others), by Route of Administration (Oral and Intravenous), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
To know the latest trends and insights prevalent in the global coronavirus treatment drugs market, click the link below:
https://www.coherentmarketinsights.com/market-insight/coronavirus-treatment-drugs-market-4312
The market is expected to witness significant growth during the forecast period owing to research and development of COVID-19 treatments. For instance, in November 2020, Medicago and GSK announced the start of Phase 2/3 clinical trials to evaluating efficacy, safety, and immunogenicity of plant-derived adjuvant vaccine on COVID-19 patients.
Key Takeaways of the Global Coronavirus Treatment Drugs Market:
- The global coronavirus treatment drugs market is expected to exhibit a CAGR of 17.5 % during the forecast period owing to research and development of COVID-19 treatments.
- Among drug class, the corticosteroids segment is estimated to hold major share in the global coronavirus treatment drugs market during the forecast period owing to higher efficacy of corticosteroids in the treatment of the coronavirus.
- Among route of administration, the intravenous segment is estimated to hold major share in the global coronavirus treatment drugs market during the forecast period owing to academic institutes and research institutes focusing on research and development of COVID-19 vaccine.
- Key players operating 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.
