The COVID-19 Therapeutics Market is expected to grow at a -15.0 % CAGR during the forecast period for 2023-2031.
The increasing outbreak of covid-19 is increasing the demand for coronavirus vaccines or therapies, which will result in the expansion of the COVID-19 therapeutics market during the forecast period. According to the World Health Organization (WHO), globally, 175,847,347 confirmed cases of COVID-19, including 3,807,276 deaths, were reported to WHO as of 15 June 2021. Covid-19 cases are increasing day by day, and there is no officially approved drug for COVID-19. Many countries are facing a shortage of drugs likely to offer growth opportunities for pharmaceutical drug manufacturers. Leading market players are also developing innovative and efficient covid-19 drug therapies, resulting in overall market growth.
Major factors responsible for the growth of the COVID 19 therapeutic market are the fast adoption of advanced technologies, the growing number of corona patients, increasing healthcare expenditures, rising awareness about coronavirus, and increasing efforts by the pharmaceutical companies to develop covid-19 therapeutic drugs. For instance, Eli Lilly and Company is donating COVID-19 therapies to Direct Relief, enabling the humanitarian organization to provide COVID-19 treatments at no cost to low- and lower-middle-income countries most heavily impacted by the pandemic. Furthermore, increasing research investments for the R&D of covid-19 therapeutic drugs is anticipated to drive market growth in the future. However, the high cost required to validate therapies, and long-term clinical trials limit the COVID-19 therapeutics market growth.
Market Segmetation
The COVID-19 therapeutics market can be segmented into Drug Class, and Region. By Drug Claas, the market can be divided into Corticosteroids (Dexamethasone, Hydrocortisone, Methylprednisolone, Others (Prednisone, Others)), Anti-viral (Remdesivir, Nirmatrelvir, Others (Ivermectin, Others)), Monoclonal Antibodies (Sotrovimab, Casirivimab plus imdevimab, Others (Bamlanivimab plus etesevimab, Tixagevimab plus, cilgavimab, others), Kinase Inhibitors (Baricitinib, Others (Tofacitinib, Others)),Others (anti-inflammatory drugs, convalescent plasma, others). Regionally, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the COVID-19 therapeutics market in the coming future.
Competitive Landscape
Some major key players in the COVID-19 Therapeutics Market:
- AstraZeneca plc,
- Celltrion Healthcare Co.,Ltd,
- Pfizer Inc.,
- Ridgeback Biotherapeutics,
- Merck & Co.,
- Veru Inc.,
- Gilead Sciences, Inc.,
- GSK plc,
- Shionogi & Company, Limited,
- NRx Pharmaceuticals, Inc.,
- Kintor Pharma-B,
- Regeneron Pharmaceuticals,
- CytoDyn,
- Atea Pharmaceuticals, Inc.,
- Amarin Corporation,
- APEIRON Biologics AG,
- Abivax SA,
- Alexion Pharmaceuticals,
- Bellerophon Therapeutics,
- Blade Therapeutics, Inc,
- Roivant Sciences,
- Synairgen,
- Sorrento Therapeutics,
- Fulcrum Therapeutics,
- Ono Pharmaceutical Co., Ltd.,
- Revive Therapeutics Ltd.,
- other prominent players
The COVID-19 Therapeutics Market Report Scope
Report Attribute |
Specifications |
Growth Rate CAGR |
CAGR of -15.0 % from 2023 to 2031 |
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
Historic Year |
2019 to 2022 |
Forecast Year |
2023-2031 |
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered |
By Drug Class |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Competitive Landscape |
AstraZeneca plc, Celltrion Healthcare Co.,Ltd, Pfizer Inc., Ridgeback Biotherapeutics, Merck & Co., Veru Inc., Gilead Sciences, Inc., GSK plc, Shionogi & Company, Limited, NRx Pharmaceuticals, Inc., Kintor Pharma-B, Regeneron Pharmaceuticals, CytoDyn, Atea Pharmaceuticals, Inc., Amarin Corporation, APEIRON Biologics AG, Abivax SA, Alexion Pharmaceuticals, Bellerophon Therapeutics, Blade Therapeutics, Inc, Roivant Sciences, Synairgen, Sorrento Therapeutics, Fulcrum Therapeutics, Ono Pharmaceutical Co., Ltd., Revive Therapeutics Ltd., and other prominent players |
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |