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COVID-19 Therapeutics Market Driven by Strong Pipeline Developments and Adoption of Antivirals and Monoclonal Antibodies
COVID-19 Therapeutics Market
Global COVID-19 Therapeutics Market is expected to grow at a 15.0% CAGR during the forecast period for 2025-2034.
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The COVID-19 pandemic triggered a sharp surge in clinical trials aimed at identifying effective therapies to combat the virus. However, since reaching a peak in April 2020, the number of therapeutic-based clinical trials has gradually declined. This trend is attributed to the suboptimal outcomes from several therapeutic trials and the subsequent availability and distribution of vaccines.
Although numerous pharmacological treatments are currently available for both inpatient and outpatient care, only a few have received full regulatory approval. A critical consideration in developing COVID-19 treatments is their efficacy against emerging SARS-CoV-2 variants, as therapies effective against one variant may prove ineffective or less effective against another.
Key factors driving the growth of the COVID-19 therapeutics market include the rapid adoption of newly approved treatment products, increasing healthcare expenditure, heightened public awareness about the virus, and intensified efforts by pharmaceutical companies to develop novel therapeutic solutions.
Ongoing research and innovation continue to advance the field, as evidenced by the World Health Organization's strong 2022 endorsement of nirmatrelvir and ritonavir (commercially known as Paxlovid) for high-risk patients with mild to moderate COVID-19-deeming it the most effective treatment available for this demographic.
Nevertheless, the market faces several challenges. High research and development costs, limited access to advanced healthcare infrastructure in developing economies, and delays in regulatory approvals by bodies such as the FDA and the European Medicines Agency have impeded market growth. Furthermore, financial constraints and concerns regarding the side effects of certain therapeutic products have also acted as deterrents.
North America is expected to maintain the largest share of the global COVID-19 therapeutics market due to the presence of leading pharmaceutical companies and robust research initiatives. Continued governmental investments, collaborations between manufacturers and research institutions, and dedicated funding for treatment development are anticipated to support sustained market expansion in the region.
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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.
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).
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Market Segmentation
Global COVID-19 Therapeutics Market, by Drug Class, 2022-2030 (Value US$ Mn)
• Corticosteroids
o Dexamethasone
o Hydrocortisone
o Methylprednisolone
o Others (Prednisone, Others)
• Anti-viral
o Remdesivir
o Nirmatrelvir
o Others (Ivermectin, Others)
• Monoclonal Antibodies
o Sotrovimab
o Casirivimab plus imdevimab
o Others (Bamlanivimab plus etesevimab, Tixagevimab plus, cilgavimab, others)
• Kinase Inhibitors
o Baricitinib
o Others (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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