According to MRFR analysis, Global Remdesivir Market is expected to register a CAGR of 7.90 % during the forecast period of 2023 to 2032 and reach USD 10.90 Billion by 2032.
The global pharmaceutical landscape has been significantly impacted by the emergence of Remdesivir, a broad-spectrum antiviral medication that gained prominence during the COVID-19 pandemic. Initially developed to combat Ebola, Remdesivir found renewed relevance as a potential treatment for severe cases of COVID-19. This shift in focus has led to a dynamic and rapidly evolving Remdesivir market, where demand, production, and research continue to shape its trajectory.
Remdesivir, developed by Gilead Sciences, garnered attention for its antiviral properties early on. It inhibits the replication of viruses by disrupting the RNA synthesis process, making it a promising candidate for a range of viral infections. The drug gained emergency use authorization for COVID-19 treatment, opening up new avenues for its use and propelling it into the spotlight.
Major Key Players:
Some of the Remdesivir Companies are Gilead Sciences, Inc. (US), Mylan (US), Cipla (India), Hetero Labs (India), and Jubilant Life Sciences (India)
Segment Analysis
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.
Recent Development:
July 2023 Remdesivir is the first antiviral medication that the FDA has licensed for the therapy of COVID-19 among individuals with serious kidney damage, including those on dialysis. Randomized controlled studies, real-world proof, and meta-analyses all indicate the clinical value of COVID-19 in hospitalized patients; nevertheless, due to a lack of data, its usage has historically been restricted in patients with serious kidney disease. The revised prescribing information for patients with renal impairment eliminates the need for estimated glomerular filtration rate (eGFR) testing before and throughout remdesivir treatment. Due to concerns with feasibility, the trial closed earlier than planned, and because enrollment was fewer than anticipated, there was insufficient power to evaluate its efficacy.
Aug 2023 Gilead Sciences announced that it has partnered with Tentarix Biotherapeutics, a privately held company, to research treatments for inflammatory and cancerous conditions. Gilead has agreed to make upfront payments to Tentarix and an equity investment of $66 million. Gilead can purchase up to three of the drug developer's units for $80 million. Through the agreement, Gilead will access Tentarix's exclusive drug development platform for antibody-based treatments that selectively target immune cells associated with the disease without activating other immune cells that could cause unfavorable outcomes.
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.
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