InsightAce Analytic Pvt. Ltd. has announced the publication of a market research report titled "Global COVID-19 Therapeutics Market by (Product (Remdesivir, Casirivimab/imdevimab, Bamlanivimab and etesevimab, Sotrovimab, Molnupiravir, Other), Drug Class (Monoclonal Antibodies, Antiviral, Anticoagulant, Glucocorticoid, Nitric oxide, and Other Drug Class)) - Market Outlook and Industry Analysis 2030" According to company's newest research, the global COVID-19 Therapeutics Market is worth US$ 10.2 Billion in 2021 and is predicted to reach US$ 25.6 Billion in 2030, with a promising CAGR of 10.7 % between 2022 and 2030.
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SARS-CoV-2 emergence, which caused the COVID-19 pandemic, is undoubtedly the most prominent medical emergency. COVID-19 has brought attention to health disparities within and between countries and will have a lasting impact on the global community. Early intervention with COVID-19 therapeutics can significantly reduce the risk of severe illness and hospitalization in individuals with COVID-19 who are at a high risk of developing a more severe illness. Molnupiravir (LAGEVRIO), Paxlovid, Evusheld, and Babtelovimab are currently available in minimal quantities for specific high-risk populations. These therapeutics vary in terms of efficacy, route of administration, risk profile, and indications. Additionally, certain medications have significant contraindications and drug-drug interactions. Treatment options include antiviral therapies, monoclonal antibodies, cell-based therapies, immunomodulators, and adjunctive therapies.
With the global prevalence of the covid-19 constantly increasing, clinicians and patients alike seek a therapeutic intervention that can expedite recovery or possibly prevent the sickness. The pandemic has prompted a drive to develop viable treatments for all stages of the disease. The US Food and Drug Administration (FDA) has been focused on assisting in identifying and developing evidence-based medicines through well-designed clinical trials since the inception of the search for effective preventative and therapeutic agents. In Feb 2022, The FDA has granted an emergency use authorization (EUA) to a novel monoclonal antibody for the treatment of COVID-19 that also works against the omicron form. The European Union has approved bebtelovimab for the treatment of mild to moderate COVID-19 in adults and children. Therapeutic antibody development increasingly emulates the normal protective antibody responses elicited by innate receptor engagement (including Fc, Toll-like and complement receptors). Multiple monoclonal antibodies and immunostimulants are being investigated for the purpose of neutralizing variant strains, which could include SARS-CoV-2.
One of the primary aspects projected to boost the market is the rising prevalence of COVID-19 worldwide. Furthermore, rising R&D activities pertaining to covid-19 therapeutics and increased research and development activities by pharmaceutical companies are likely to fuel market expansion over the forecast period.
North America dominated the global COVID-19 Therapeutics market in 2021. The regional expansion is mostly due to increased government initiatives for covid-19 therapeutics research and development, an increasing number of market participants, and the introduction of favorable government policies in the United States and Canada. The Asia Pacific market is likely to grow throughout the forecast period. The government's increased efforts to combat the disease's rising prevalence contribute to the rise of COVID-19 Therapeutics in this region. In June 2021, India's pharmaceutical authority authorized the emergency use of an antibody-drug combination developed by Eli Lilly and Company India to treat mild to moderate COVID-19 patients.
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The following key companies are engaged in the COVID-19 Therapeutics market:
Atea Pharmaceuticals, Inc., Fulcrum Therapeutics, CytoDyn, Eli Lilly and Company, Celltrion, Shanghai Junshi Biosciences Co., Ltd., NRX Pharmaceuticals, Veru Inc., Catalent, Inc., Humanigen, Inc., Molecular Partners AG, Cipla Limited, Merck, Regeneron Pharmaceuticals, Inc., Novartis International AG, Vir Biotechnology, Brii Biosciences Limited, Revive Therapeutics Ltd., GlaxoSmithKline plc, APEIRON Biologics AG, Janssen Pharmaceuticals, Bristol Myers Squibb, Trevena Inc, Constant Therapeutics LLC, Ono Pharmaceutical Co., Ltd., Amarin Corporation plc, NeuroBo Pharmaceuticals, Inc., FUJIFILM Toyama Chemical Co., Ltd., Innovation Pharmaceuticals Inc., Bellerophon Therapeutics, Sorrento Therapeutics, PhaseBio, BioAegis Therapeutics, Pfizer, Takeda, Roivant Sciences, Celltex Therapeutics, Blade Therapeutics, A.I. Therapeutics, Inc., Marinomed Biotech AG, Synairgen, Romark Laboratories, SAb Biotherapeutics, Kiniksa Pharmaceuticals, UNION therapeutics A/S, and Other Prominent Players.
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