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.
The COVID-19 therapeutics market can be segmented on Infection Type, Drug Class, and Region. By Infection Type, the market can be divided into HCoV-229E, HCoV-OC43, SARS-CoV, New Haven CoV, HKU1-CoV, MERS-CoV, and Other Infection Types. SARS-CoV segment is expected to dominate the market as this virus is the main reason for the covid-19 outbreak. The market can be segmented into Monoclonal Antibodies, Antiviral, Anticoagulant, Glucocorticoid, Nitric oxide, and Other Drug Class in terms of Drug Class. The monoclonal Antibodies segment has dominated the COVID-19 therapeutics market. 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.
Some of the key Players of COVID-19 therapeutics market are Atea Pharmaceuticals, Inc., CytoDyn, Celltrion, Eli Lilly and Company, NRX Pharmaceuticals, Shanghai Junshi Biosciences Co., Ltd., Veru Inc., Humanigen, Inc., Catalent, Inc., Cipla Limited, Molecular Partners AG, Merck, Novartis International AG, Regeneron Pharmaceuticals, Inc., Vir Biotechnology, Revive Therapeutics Ltd., Brii Biosciences Limited, GlaxoSmithKline plc, APEIRON Biologics AG, Bristol Myers Squibb, Janssen Pharmaceuticals, Trevena Inc, Ono Pharmaceutical Co., Ltd., Constant Therapeutics LLC, Amarin Corporation plc, FUJIFILM Toyama Chemical Co., Ltd., NeuroBo Pharmaceuticals, Inc., Innovation Pharmaceuticals Inc., Bellerophon Therapeutics, Sorrento Therapeutics, PhaseBio, Pfizer, Takeda, BioAegis Therapeutics, Roivant Sciences, AI Therapeutics, Inc., Celltex Therapeutics, Blade Therapeutics, Marinomed Biotech AG, Synairgen, SAb Biotherapeutics, Romark Laboratories, L.C., Kiniksa Pharmaceuticals, UNION therapeutics A/S, Fulcrum Therapeutics, and Other Prominent Players.