North America to Dominate the Global Remdesivir Market by 2026
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.
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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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