COVID-19 Therapeutics Market Growth and Restrain Factors Analysis 2023-2030

InsightAce Analytic Pvt. Ltd. announced the publication of updated version of a market research report titled "Global COVID-19 Therapeutics Market - By Drug Class (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)))- Market Outlook and Industry Analysis 2030"

The COVID-19 pandemic has resulted in an exponential increase in the clinical trials in the search of new therapies to treat the disease. The clinical trials using therapeutics are gradually decreasing since their peak in April 2020. This may be due to the negative results of the clinical trials using therapeutics and the availability of vaccines in the market. There are many drugs that can be used to treat COVID-19, both in and out of the hospital. Two of them are even fully authorised. When making treatments for COVID-19, one of the most important things to keep in mind is how well they work against current and new SARS-CoV-2 variants. For example, treatments that work well against one version of the virus may not work at all or work even less well against a new variant.

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The main drivers of the COVID-19 therapeutic market's expansion are the fast adoption of new approved therapeutic product, rising healthcare expenditure on COVID 19 therapeutics, growing public knowledge of the coronavirus, and increased attempts by pharmaceutical companies to create COVID-19 therapy medications. Research and developments are improving continuously as a result of this, WHO issued a strong recommendation in 2022 for nirmatrelvir and ritonavir, marketed under the brand name Paxlovid, for mild and moderate COVID-19 individuals with the highest risk of hospitalisation, considering it the best therapeutic option for high-risk patients to date.

The growth of the global covid-19 therapeutics market is likely to be slowed by things like the high cost of R&D and many approvals for the vaccine and the lack of advanced healthcare infrastructure in developing countries. The growth of the market is also likely to be slowed by a lack of money and side effects from the therapeutic products. The Food and Drug Administration (FDA) and the European Medicines Agency took too long to approve new therapeutic products which affected the development of the COVID-19 therapeutics market.

The COVID-19 Therapeutics market in North America will contribute the largest market share as it includes prominent market players. Consistent funding and research will boost further market growth in the region. Also, collaborations with manufacturers and research institutes and investments from governments will help to develop new vaccines and treatments.

Significant key Players in COVID-19 therapeutics market are 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.

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Key Market Development
In Sept 2022, The EU authorized Evusheld, a combination of long-acting antibodies developed by AstraZeneca, as a COVID-19 therapy. The European Commission granted approval based on the findings of the TACKLE Phase III COVID-19 treatment trial, which demonstrated that a single intramuscular (IM) dose of Evusheld provided clinically and statistically significant protection against progression to severe COVID-19 or death from any cause, compared to placebo.

In May 2022, FDA Approved OLUMIANT® (baricitinib) by Lilly and Incyte for the Treatment of Certain Hospitalized Patients with COVID-19. OLUMIANT is the first & only JAK inhibitor approved by the FDA for treating COVID-19 in hospitalized people requiring varying degrees of oxygen assistance.

In Dec 2021, Molnupiravir from Merck and Ridgeback is approved for treating high-risk adults with mild to moderate COVID-19. The approval is based on the Phase 3 MOVe-OUT trial, which examined molnupiravir 800 mg twice-daily in non-hospitalized adult patients with unvaccinated SARS-CoV-2 infection, symptom start within 5 days of study randomization, and at least one risk factor related with poor illness outcomes (e.g., heart disease, diabetes).

Market Segmentation
Global COVID-19 Therapeutics Market, by Drug Class, 2022-2030 (Value US$ Mn)

Corticosteroids
oDexamethasone
oHydrocortisone
oMethylprednisolone
oOthers (Prednisone, Others)
Anti-viral
oRemdesivir
oNirmatrelvir
oOthers (Ivermectin, Others)
Monoclonal Antibodies
oSotrovimab
oCasirivimab plus imdevimab
oOthers (Bamlanivimab plus etesevimab, Tixagevimab plus, cilgavimab, others)
Kinase Inhibitors
oBaricitinib
oOthers (Tofacitinib, Others)
Others (anti-inflammatory drugs, convalescent plasma, others)

Global COVID-19 Therapeutics Market, by Region, 2022-2030 (Value US$ Mn)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

North America COVID-19 Therapeutics Market, by Country, 2022-2030 (Value US$ Mn)
U.S.
Canada

Europe COVID-19 Therapeutics Market, by Country, 2022-2030 (Value US$ Mn)
Germany
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific COVID-19 Therapeutics Market, by Country, 2022-2030 (Value US$ Mn)
India
China
Japan
South Korea
Australia & New Zealand

Latin America COVID-19 Therapeutics Market, by Country, 2022-2030 (Value US$ Mn)
Brazil
Mexico
Rest of Latin America

Middle East & Africa COVID-19 Therapeutics Market, by Country, 2022-2030 (Value US$ Mn)
GCC Countries
South Africa
Rest of Middle East & Africa

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Why should buy this report:
To receive a comprehensive analysis of the prospects for the global COVID-19 Therapeutics market.
To receive a clinical trial/pipeline overview and future trends of the COVID-19 Therapeutics Market.
To analyze the global COVID-19 therapeutics market drivers and challenges.
To get information on the global COVID-19 Therapeutics market size- (Value US$ Mn) forecast to 2030.
Noteworthy investments, mergers & acquisitions in the global COVID-19 Therapeutics market industry

Other Related Reports Published by InsightAce Analytic:
Global Therapeutic Proteins and Oral Vaccines Market
Global Coronavirus Vaccine Market
Global Multiple Cancer Monoclonal Antibodies Market
Global Respiratory Inhalers Market

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