Favipiravir Market Provides in-depth analysis of the Industry, with Current Trends and Future Estimations to Elucidate the Investment Pockets | (2020-2027)

Favipiravir (T-705; 6-fluoro-3-hydroxy-2-pyrazinecarboxamide) is an anti-viral agent that selectively and potently inhibits the RNA-dependent RNA polymerase (RdRp) of RNA viruses. Favipiravir was discovered through screening chemical library for anti-viral activity against the influenza virus by Toyama Chemical Co., Ltd. Favipiravir undergoes an intracellular phosphoribosylation to be an active form, favipiravir-RTP (favipiravir ribofuranosyl-5'-triphosphate), which is recognized as a substrate by RdRp, and inhibits the RNA polymerase activity.

Since the catalytic domain of RdRp is conserved among various types of RNA viruses, this mechanism of action underpins a broader spectrum of anti-viral activities of favipiravir. Favipiravir is effective against a wide range of types and subtypes of influenza viruses, including strains resistant to existing anti-influenza drugs. Of note is that favipiravir shows anti-viral activities against other RNA viruses such as arenaviruses, bunyaviruses and filoviruses, all of which are known to cause fatal hemorrhagic fever. These unique anti-viral profiles will make favipiravir a potentially promising drug for specifically untreatable RNA viral infections.

Fujifilm Toyama Chemical has started a Phase III clinical trial of its antiviral influenza drug Avigan (favipiravir) for the treatment of Covid-19 patients in Japan. Avigan specifically blocks RNA polymerase associated with influenza viral replication. The mechanism is expected to have an antiviral effect on SARS-CoV-2, the novel coronavirus that causes Covid-19.

In Japan, the new Phase III trial will assess Avigan's safety and efficacy as a potential Covid-19 treatment. According to the study data, the drug was able to shorten the recovery time from 11 days to four days for mild and moderate cases.

Generics drugmaker Beximco (AIM: BXP) says its pharmaceutical division and fellow Bangladesh-based Beacon Pharmaceuticals have developed favipiravir, an antiviral drug that is being used by China to treat COVID-19 patients

In this report, the global Favipiravir market is valued at USD xx billion in 2020 and is expected to reach around USD xx billion by the end of 2027, growing at a CAGR of around xx% between 2019 and 2027.

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Scope of the report:

The report evaluates updated financial information sourced through both primary and secondary sources of data collection to offer accurate market insights. It also assesses critical market trends that are expected to have a favorable impact on the market in the coming years, including a detailed examination of the market segments on both regional and global scales. The report also offers a holistic overview of the market share along with strategic recommendations, emphasizing the nascent market segments.

In market segmentation by manufacturers, the report covers the following companies-

Fujifilm Toyama Chemical

Cipla

Hunan Huateng Pharmaceutical Co., Ltd

Lasa Supergenerics Limited

Shouyuan chemical

Zhejiang HISUN Pharmaceuticals Co., Ltd

Toyama Chemica

The report assesses the current competitive scenario, highlighting the activities undertaken by key participants in the market. Commercial activities like product launches, joint ventures, mergers and acquisitions, collaborations, and other deals have also been scrutinized in the report. Furthermore, the report segments the market based on product type, applications, end-users, business verticals, and geographical regions. It also offers an in-depth analysis of the major drivers, restraints, opportunities, challenges, and prospects affecting the overall market along with the market estimates and forecasts of the revenue.

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In market segmentation by types of Favipiravir, the report covers-

20 Tablets/Box

40 Tablets/Box

In market segmentation by applications of the Favipiravir, the report covers the following uses-

COVID-19 Treatment

Hospital

Clinics

Drug Store

Others

The Global Favipiravir Market report also offers the regional segmentation, emphasizing on the expected growth of each geographical region, taking into account the growth rate, micro- and macro-economic indicators, upstream and downstream industries, regulatory framework, growth trends, shift in consumer preferences, and the demand and supply dynamics.

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Which player is poised to lead the market in 2020?
2020 is expected to be a big year for the Favipiravir Market in terms of growth. As more companies in the market move some or all of their applications, emerging players are poised to benefit.

What are the recent trends in the Favipiravir market?
According to Market Expertz, key business segments sales will cross the USD XX mark in 2020, signaling changing consumer preferences. Apart from classified segments that are popular in the industry i.e. by Type, by End-Users/Application, the latest 2020 version is further broken down to highlight emerging trends in the global industry.

What are the market positions of the Favipiravir companies?
With the latest earning release, Industry Players have disclosed their plans to expand their model for bringing new offerings to the market faster and with more precision. Manufacturers and consumers are getting a glimpse of this process with new products; hence, the research gives an extensive demand analysis to better understand consumer behavior and changing preferences.

With increased investments, market giants are introducing new products in the market. The report studies how effective the new product lines will be and just how much growth it would witness.

Research objectives

To study and analyze the Favipiravir Market size by key regions/countries, product type and application, historical data from 2016 to 2018, and forecast to 2026.
To identify the key market players.
To understand the structure of Favipiravir Market by identifying its various sub-segments.
To define, describe, and analyze the value, market share, market competition landscape, and the industry chain for the next few years.
To analyze the Favipiravir Market with respect to individual growth trends, future prospects, and the contribution of the leading players to the global market.
To share detailed information about key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).
To project the prospective growth in the size of Favipiravir Market with respect to key regions, type, and applications.
To analyze competitive developments such as expansions, agreements, new product launches, and mergers & acquisitions in the market.


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