Global Remdesivir Market: Industry Analysis and Forecast (2020-2026)

 

Global Remdesivir Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 8.0% through 2020 to 2026, reaching nearly US$ XX Mn.

The global Remdesivir market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Remdesivir report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Remdesivir Market

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Global Remdesivir Market Overview:

Remdesivir is an antiviral drug being used for the treatment of coronavirus disease 2019 (COVID-19) caused by the SARS-CoV-2 virus. Remdesivir is a prodrug of a nucleotide analog that is intracellularly digested to an analog of adenosine triphosphate and inhibits viral RNA polymerases. Remdesivir has not experienced the standard review to be approved by the FDA for use.

Though, the FDA has permitted an Emergency Use Authorization (EUA) to allow adults and children who are hospitalized with severe COVID-19 to receive Remdesivir. Remdesivir has broad-spectrum antiviral activity both in vitro and in vivo in animal models against multiple developing viral pathogens, like Ebola, SARS, Marburg, MERS, and SARS-CoV-2; the virus that causes COVID-19.
Global Remdesivir Market Dynamics:

Drivers

The remdesivir market is majorly driven by the fast-growing need for a drug used in the treatment of a patient with severe COVID-19 symptoms. The high occurrences of pandemics like COVID-19, Ebola, along with the increasing dominance of viral diseases are also subsidizing to rising in the global market. Remdesivir (RDV) is one of the promising drugs currently being used for the treatment of the COVID19 disease and is the key factor affecting remdesivir market trends over the forecast period.

Moreover, the rising focus on the production of remdesivir both available and affordable to governments and patients around the globe is also responsible for the expansion of remdesivir market over the forecast period.

Due to the demand for Remdesivir increasing day by day in different parts of the country due to the surge in COVID-19 cases, the government has increased the product of remdesivir by 10.5 million a month.

Restrains

The drug manufacturers are growing Remdesivir production due to the high demand for this drug and the need for the pandemic. While the limited knowledge about the safety and efficiency of the drug remdesivir in the treatment of patients with COVID-19 at the hospital can hamper the market. The Supply chain and transport of the drug in this irregular lockdown situation is expected to barricade the progress of the remdesivir market in the forecast period.

Opportunities

The high Research &Development market share in Remdesivir market is stimulating the growth of the remdesivir market. Also, great investment in research and development to examine further uses of remdesivir creates an opportunity for the key players to generate more revenue in the forecast period. Hence, these factors will further hasten the expansion of the remdesivir market and are also are proposing a noteworthy growth opportunity for the market.

Challenge

The Availability of raw material and packing material in this pandemic situation act as a challenge for the manufacturing units in the market. For Instant, the embargo was implemented by the US government on the export of raw and packaging material, critical consumables, and equipment required for the manufacturing of COVID-19 vaccines.
Global Remdesivir Market Segment Analysis:

By Patient Type, Adult patients are more prone to COVID-19 infection due to low immunity and unhealthy lifestyle. Conferring to the U.S. Center for Disease Control and Prevention (CDC), over the summer, in the US., people under age 30 measured for more than 20% of COVID-19 cases and were seen as more likely to transmit the virus than others. This inclination has continued into the fall.

Data from one study displays that of more than 3,000 adults ages 18 to 35 who constricted COVID-19 and became sick enough to require hospital care, 23% ended up in intensive care, 10% were placed on a breathing machine and 2.8% expired.

By Form, the segment is categorized into lyophilized and concentrated solutions.

Global Remdesivir MarketBy End-User, in Hospital segment distribution is being controlled by a commercial drug distributor, decisions regarding which hospitals get the drug have been left to government authorities. The drug is an infusion and will not be given to retail and specialty pharmacies. The distribution of remdesivir has been authorized only for the treatment of hospitalized patients with severe COVID-19. It is not authorized for the treatment of any other viruses or pathogens.

Drug stores: The government has restricted the drug stores to sell the remdesivir drug in the market. The drug is only being given in hospitals directly from manufacturers. Liable upon the success rate and side effects the drug can be permitted in the drug store for sale.

Global Remdesivir Market
Global Remdesivir Market Regional Insights:

America: North America is likely to dominate the global Remdesivir market during the forecast period. In total, the drug manufacturer Gilead Sciences is also headquartered in California, United. The experimental drug received an emergency use approval from the Food and Drug Administration last week after initial data

from a clinical trial displayed that it reduced how long it took hospitalized Covid-19 patients to recover.
Europe: Europe is expected to observe important growth in the overall demand for Remdesivir throughout the forecast period due to EMA's recommendation for the use of Remdesivir in concerned COVID-19 care.

Asia-pacific: The Asia-Pacific market is also predictable to see generous growth due to the widespread use of the medication for COVID-19 treatment in countries such as China, Japan, India, and others due to the high rate of COVID-19 pandemic in the region. Furthermore, the Indian Council of Medical Research (ICMR) has freshly enquired the major market players operating in the Indian pharmaceutical market to manufacture the drug and Dr. Reddy Laboratories has initiated the process with its generic form,”

The Middle East and Africa: The Middle East and Africa are one of the fastest-growing markets due to the rise in COVID 19 cases. Gilead Sciences, Inc. knotted up with Egypt’s pharma company and UAE pharma companies as well for the production of the remdesivir drug to meet the deficiency of drugs in the region.

The objective of the report is to present a comprehensive analysis of the global Remdesivir market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Remdesivir market dynamics, structure by analyzing the market segments and project the global Remdesivir market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Remdesivir market make the report investor’s guide.
Global Remdesivir Market Scope: Inquire before buying

Global Remdesivir MarketGlobal Remdesivir Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Remdesivir Market Key Players

• Gilead Sciences, Inc.
• BrightGene Bio-Medical Technology Co.,Ltd.
• Hainan Haiyao Co., Ltd.
• EVA PHARM
• Cipla Inc.
• Mylan N.V.
• Hetero.
• Ferozsons Laboratories.
• Zydus Cadila.
• Dr. Reddy’s Laboratories Ltd.
• Beximco Pharmaceuticals Ltd.

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