New York, NY -- (SBWire) -- 09/28/2020 --Remdesivir is a less popular drug for antiviral medication, which has become the first medicine approved by the FDA for treating the novel Coronavirus in May 2020. Previously, the drug Remdesivir was regarded as an investigational drug. The drug was never used to treat any disease or any medical condition. Today, the drug is being studied as a probable treatment for several diseases. In the beginning, the drug was created as a potential treatment for hepatitis. The drug was studied as a potential treatment for Ebola virus in 2014. Since then, the effectiveness of the drug has been studied as treatment for any other viruses other than the novel Coronavirus. Also, researchers have found that Remdesivir drug has been proved to be effective against several other (SARS) severe acute respiratory syndrome and also (MERS) Middle East respiratory syndrome, despite the studies were done in the test-tubes and not in animals but on animals.
The drug, when used on Coronavirus affected people prevents the virus from creating the specific enzyme that is essential for the virus to copy itself. Once this happens, the virus does not spread in the body of the affected. Also, further research has shown that Remdesivir is efficient enough to shorten the duration of the patients' stay in the hospital. The drug is also associated with less number of deaths, especially among the unwell Coronavirus patients.
Major Key Players of the Remdesivir Market are:
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. and Beximco Pharmaceuticals Ltd., among others.
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The factors contributing to the growth of remdesivir market include, rising number of coronavirus disease (COVID-19) and increasing government initiatives. The advantages of remdesivir observed during the trails such as shortened time of recovery by an average of four days is another key factor driving its demand. Agreements signed by Gilead with generic manufacturers to deliver treatment at a substantially lower cost in the developing countries is also anticipated to boost the market growth during the forecast period. However, the possibility of shortage of the drug and the concerns related to the safety and efficacy of remdesivir amongst the patient population are some factors that are likely to hinder the market growth to a certain extent.
The initial novel coronavirus outbreak in China led to COVID-19 pandemic. COVID-19 has rapidly affected millions of lives worldwide thereafter. For instance, in U.S by the end of June 2020 there were approximately 3.1 million total cases with active cases being around 1.5 million. Rapid surge in the number of COVID-19 cases is expected to drive the growth of remdesivir market. Moreover, results from the NIAID study on patients hospitalized with COVID-19 showcased that remdesivir shortened time to recovery by an average of four days. This positive result is expected to spur its demand in the coming years.
Major Types of Remdesivir Market covered are:
Pediatric Patients
Adult Patients
Major Applications of Remdesivir Market covered are:
Hospitals
Clinics
Research objectives:-
– To study and analyze the global Remdesivir consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Remdesivir market by identifying its various sub-segments.
– Focuses on the key global Remdesivir manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Remdesivir with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Remdesivir Market Size
2.2 Remdesivir Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Remdesivir Market Size by Manufacturers
3.2 Remdesivir Key Players Head office and Area Served
3.3 Key Players Remdesivir Product/Solution/Service
3.4 Date of Enter into Remdesivir Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Remdesivir Sales by Product
4.2 Global Remdesivir Revenue by Product
4.3 Remdesivir Price by Product
5 Breakdown Data by End User
5.1 Overview
5.2 Global Remdesivir Breakdown Data by End User
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In the end, Remdesivir industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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COVID-19 Impact on Remdesivir Market Outlook to 2030: Emerging Trends and Will Generate New Growth Opportunities Status
Latest research findings from Market Industry Reports (MIR) report titled “Remdesivir Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030” suggests that global remdesivir market is expected to witness substantial CAGR from 2020 to 2030.