Press release
COVID-19 Current Therapy Market: Evolving Treatment Efficacy, Growth Drivers, and Declining CAGR
COVID-19 Current Therapy Market Size
What Is The Projected Market Size Of The Global COVID-19 Current Therapy Market And Its Growth Rate?
The COVID-19 current therapy market's value has been dwindling in recent years. Key highlights include:
• The market is projected to fall from $5.87 billion in 2024 to $2.35 billion in 2025.
• The compound annual growth rate (CAGR) is expected to be -60.0%.
• This steep decline can be attributed to limited treatment options, varying treatment efficacy, supply chain disruptions, rapidly evolving scientific knowledge, and the emergence of new variants.
What Is Driving The Growth In The COVID-19 Current Therapy Market?
The spread of the COVID-19 pandemic has ironically contributed to the market's growth. The global increase in COVID-19 cases, reaching 581.8 million in August 2022 according to the World Health Organization, has led to a significant rise in demand for repurposed drugs used for coronatherapy. With no officially approved drug for COVID-19, countries across the globe are facing drug shortages. In response, drug manufacturers are escalating production to meet global demand. Moreover, programs like the COVID-19 Treatment Acceleration Program (CTAP) by FDA, aimed at the rapid development of potential COVID-19 therapies, have further driven the growth of the market.
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Who Are the Key Players Driving COVID-19 Current Therapy Market Growth?
Major players in the COVID-19 current therapy market include:
• Gilead Sciences, Inc.
• Ipca Laboratories Limited
• Zydus Cadila
• Regeneron Pharmaceuticals, Inc.
• Sun Pharmaceutical Industries Limited
• AbbVie
• Glenmark Pharmaceuticals Limited
• Eli Lilly and Company
• Wallace Pharmaceuticals, Inc.
• Mylab Discovery Solutions
• ...and others.
What Are The Key Trends In The COVID-19 Current Therapy Market?
Convalescent Plasma Therapy (CP), used as an experimental therapy to treat COVID-19 patients, is a key trend worth noting. This therapy uses the blood plasma of patients who have recovered from COVID-19, which contains antibodies capable of fighting the infection.
What Are The Segments Of The Global COVID-19 Current Therapy Market?
The global COVID-19 current therapy market can be segmented as follows:
• By Drug Type: Antiviral, Monoclonal Antibodies, Corticosteroid, Supplements, Antimalarial, Interferons And Interleukin Inhibitors, Other Anti-Infective Drugs, Others.
• By Route Of Administration: Oral, Intravenous.
• By End-User: Hospitals, Clinics, Home Care, Others.
Which Region Leads The COVID-19 Current Therapy Market?
North America ranks as the largest region in the COVID-19 current therapy market as of 2024. The Middle East is projected to be the fastest-growing region in the global market share. The report also covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, and Africa.
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What Is Covered In The COVID-19 Current Therapy Market Global Market Report?
- Market Size Analysis: Analyze the COVID-19 Current Therapy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the COVID-19 Current Therapy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall COVID-19 Current Therapy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the COVID-19 Current Therapy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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