North America to Dominate the Global Remdesivir Market by 2026 | TechSci Research
According to TechSci Research report, Global Remdesivir Market is expected to reach USD9913.38 million by 2026 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.
- New York, NY (1888PressRelease) August 12, 2021 - Increasing number of COVID-19 patients across the globe to drive the growth of global remdesivir market.
According to TechSci Research report, “Global Remdesivir Market By Dosage Form (Lyophilized Solution, Frozen Solution), By Route of Administration (Intravenous, Inhalation), By Patient Age (Geriatric, Adult, Pediatric), By Application (SARS-CoV-2 (COVID-19), MERS-CoV, Ebola, SARS-CoV), By Distribution Channel (Hospitals, Clinics, Drug Stores and Pharmacies), By Region, Competition, Forecast & Opportunities, 2026”, global remdesivir market is expected to reach USD9913.38 million by 2026 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 drug received Food and Drug Administration approval in October 2020 and has shown excellent clinical safety and efficacy in treating the COVID-19 patients. Remdesivir is sold under the brand name Veklury in the United States.
Veklury became the first FDA-approved therapy for COVID-19 and by the end of 2020, it was being used to treat one in two hospitalized patients for COVID-19 in the United States. It has now been used to treat millions of patients worldwide and was made available to more than 125 lower-income countries through voluntary licenses. Further, the surge of COVID-19 patients in 2021 has increased the sales of remdesivir globally and Gilead Sciences has provided license to several Indian manufacturing companies to increase the production capacity and meet the rising demand for remdesivir at global level. Also, the drug has once failed in treating Ebola, therefore there are various doubts and myths in the market regarding its use. Furthermore, countries have started working on the generic forms of drug, which might negatively impact the market growth.
Browse 170 Figures spread through 110 Pages and an in-depth TOC on "Global Remdesivir Market"
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The global remdesivir market is segmented based on dosage form, route of administration, patient age, application, distribution channel, company, and region. Based on route of administration, the market can be bifurcated into intravenous and inhalation. 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 lyophilized solution and frozen solution. The lyophilized solution segment is expected to dominate in the forecast years, since it enhances the stability of remdesivir dry powder as well as the product stability in dry state and companies ensure bulk production of remdesivir in this form.
Based on application, the market can be fragmented into Ebola, SARS-CoV-2 (COVID-19), MERS-CoV, SAR- CoV. 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 received FDA approval in Oct 2020 for the treatment of COVID-19. The drug has also shown encouraging results in animal model for SARS-COV and MERS-COV.
Gilead Sciences, Inc., Cipla Ltd., Hetero Labs Ltd., Meda Pharma SA (VIATRIS Pharmaceuticals Ltd.), Dr Reddy's Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Cadila Healthcare Ltd., Jubilant Pharmova Ltd., Eva Pharma, Ferozsons 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. Additionally, various companies have started manufacturing liquid and freeze-dried forms of remdesivir 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’s 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 Form (Lyophilized Solution, Frozen Solution), By Route of Administration (Intravenous, Inhalation), By Patient Age (Geriatric, Adult, Pediatric), By Application (SARS-CoV-2 (COVID-19), MERS-CoV, Ebola, SARS-CoV), By Distribution Channel (Hospitals, Clinics, Drug Stores and Pharmacies), By Region, Competition Forecast & Opportunities, 2026,” 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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