Remdesivir Market: Key Trends and Strategies for Expansion 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Remdesivir Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $14.12 billion In 2028 At A CAGR Of 21.4% :

The remdesivir market size has grown exponentially in recent years. It will grow from $4.95 billion in 2023 to $6.49 billion in 2024 at a compound annual growth rate (CAGR) of 31.2%. The growth in the historic period can be attributed to increasing prevalence of covid-19, rising awareness of remdesivir, government support for remdesivir, clinical trials and research, government purchases.

The remdesivir market size is expected to see exponentially grown in the next few years. It will grow to $14.12 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to ongoing covid-19 response, emerging variants, global vaccination campaigns, pandemic preparedness, global health initiatives. Major trends in the forecast period include personalized medicine, combination therapies, production scalability, telemedicine and remote monitoring, research on new indications, alternative antiviral therapies.

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Remdesivir Market Major Segments
The remdesivir market covered in this report is segmented -

1) By Route Of Administration: Oral, Intravenous
2) By Dosage Form: Tablets, Frozen Solution, Lypholized Solution
3) By Distribution Channel: Hospitals, Clinics, Drug Stores/Pharmacies, Online, Other Distribution Channels

Key Driver - Role Of Government Expenditure In Driving Remdesivir Market Growth

The increasing government expenditure is expected to propel the growth of the remdesivir market going forward. Government expenditure, also known as government spending, refers to the total amount of money that a government or public sector entity allocates and disburses to finance its operations, programs, services, and projects. Government expenditure is instrumental in the growth and accessibility of Remdesivir, especially during public health crises. By providing funding, regulatory support, purchasing power, and research investments, governments can contribute to the availability and affordability of this critical antiviral medication. For instance, in July 2023, according to the Government Digital Service, a UK-based government body, the central government's own current spending on services increased from $876.47 billion to $963.74 billion in 2022-23. The amount spent on capital projects for services rose from $81.37 billion in 2021-2022 to $104.72 billion in 2022-2023 dollars. Therefore, the increasing government spending is driving the growth of the remdesivir market.

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Prominent Trend - Gilead's New FDA-Approved Drug Veklury (Remdesivir) To Treat Covid-19

Major companies operating in the remdesivir market are receiving FDA approvals for new drugs such as Veklury (Remdesivir) to increase their profitability in the market. Veklury (remdesivir) is an antiviral medication used to treat COVID-19 in adults and pediatric patients who are at least 28 days old and weigh at least 3 kg. For instance, in January 2022, Gilead Sciences Inc., a US-based pharmaceuticals company announced that Food and Drug Administration has approved its new drug called Veklury (Remdesivir). Veklury is used to treat mild to moderate COVID-19 symptoms in adults and children who are hospitalized or not and are at high risk for developing severe COVID-19, including hospitalization or death.

Remdesivir Market Players
Major companies operating in the remdesivir market include Gilead Sciences Inc., BrightGene Bio-Medical Technology Co Ltd, Hainan Haiyao Co. Ltd., Sichuan Kelun Pharmaceutical Co. Ltd., Hunan Warrant Pharmaceutical, Cipla Limited, Pfizer Inc., Merck & Co. Inc., Cayman Chemical Company, Dr Reddy's Laboratories Ltd., Inovio Pharmaceuticals, Shenzhen BORUI Pharmaceutical Technology Co. Ltd., Berry Global Group, Hetero Labs Limited, Mylan N.V., Jubilant Generics, Zydus Cadila Health Care Limited, Syngene International Limited, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma Limited, Teva Pharmaceutical Industries, Ferozsons Laboratories Limited, Jubilant Life Sciences, Laurus Labs, Macleods Pharmaceuticals, Natco Pharma, Sandoz Group AG, Strides Pharma Science Limited, Torrent Pharmaceuticals, Beximco Pharmaceuticals Ltd., Fresenius Kabi, Gland Pharma Limited, Hikma Pharmaceuticals, Lark Laboratories

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Largest And Fastest Growing Region In The Market
North America was the largest region in the remdesivir market in 2023. Middle East is expected to be the fastest growing region in the remdesivir market report during the forecast period. The regions covered in the remdesivir market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Remdesivir Market Report Structure
3. Remdesivir Market Trends And Strategies
4. Remdesivir Market - Macro Economic Scenario
5. Remdesivir Market Size And Growth
…..
27. Remdesivir Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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