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Market Highlights
According to MRFR analysis, Global Remdesivir
(COVID 19) Market is expected to register a CAGR of 31.2% during the
forecast period of 2020 to 2027 and reach USD 10,119.99 Million by 2027.
Remdesivir is an antiviral drug. FDA approved the remdesivir
drug in April 2020 for the clinical trials for COVID 19 treatment. Studies have
shown that around 46% of US patients have been recovered from COVID 19 quickly.
The growth of the global Remdesivir (COVID 19) market can be
contributed to the growing need for rescue medication, including remdesivir
drugs, due to the outbreak of COVID-19 globally. Furthermore, the rising
geriatric population is also expected to fuel market growth during the forecast
period. However, the availability of various substitutes for Remdesivir (COVID
19), are expected to restrain the growth of the global Remdesivir (COVID 19)
market.
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Gilead Sciences, Inc., Bright Gene, Hainan Haiyao, Cipla,
Pfizer, Merck, Cayman Chemical, Kelun Pharma, Hunan Warrant Pharmaceutical, Dr.
Reddy's Laboratories, and others are some of the major market leaders in
Remdesivir. Organic strategies such as product launches, mergers, and
collaborations are used by the companies operating on the market to boost their
share. Gilead Sciences, Inc., for instance, has announced it will donate 1.5
million doses of the medication for compassionate use. The company has also
started manufacturing liquid and freeze-dried ways to improve supplies.
UK-based AstraZeneca has approached rival drug maker Gilead Sciences about a
potential merger.
Regional Analysis
The market has been divided, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. The Americas region
held the largest market in 2020, owing to the growing cases of COVID 19 in the
region. The remdesivir (COVID 19) market in the Americas has further been
branched into North America and Latin America, with the North American market
divided into the US and Canada. The European remdesivir (COVID 19) market has
been categorized as Western Europe and Eastern Europe. The Western European
market has further been classified as Germany, France, the UK, Italy, Spain,
and the rest of Western Europe. The remdesivir (COVID 19) market in
Asia-Pacific has been segmented into Japan, China, India, South Korea,
Australia, and the rest of Asia-Pacific. Due to the increasing rate of COVID 19
cases, the market in Asia-Pacific is expected to be the fastest-growing. The
remdesivir (COVID 19) market in the Middle East & Africa has been divided
into the Middle East and Africa.
Key Players
Some of the key players in the global remdesivir (COVID 19)
market are Gilead Sciences, Inc. (US), Mylan (US), Cipla (India), Hetero Labs
(India), and Jubilant Life Sciences (India)
Segmentation
Global Remdesivir (COVID 19) market has been segmented based
on the Dosage and Distribution Channel.
Based on the dosage, the global remdesivir (COVID 19) market
has been segmented into 5mg, 10mg, 50mg, and 100mg. The 100 mg segment is
expected to hold the largest market share owing to rise in COVID 19 and 100 mg
is specifically used for older people and COVID 19 is affecting more in older
people
On the basis of distribution channel, the market has been
segmented into hospitals and drug stores. The hospitals are expected to hold a
major market share owing to government regulation i.e. the drug can be given in
the hospitals only.
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