According to a report by Altus Market Research titled, “Global Coronavirus (COVID-19) Current Therapy Market Analysis 2022-2031: COVID-19 Impact and Recovery by Drug Type: (Antiviral; Monoclonal Antibodies; Corticosteroid; Supplements; Antimalarial; Interferons And Interleukin Inhibitors); End-User”, the coronavirus (COVID-19) current therapy market reached a value of nearly $23,466.7 million in 2020. The market is expected to decline from $23,466.7 million in 2020 to $2,346.7 million in 2025 at a rate of -46.3%.
Going forward, the impact of the COVID-19 pandemic, aging population, rising prevalence of chronic diseases, new COVID-19 strains, government initiatives, vaccine hesitancy, an increase in healthcare access, increasing number of clinical trials by key players and academic institutes and fast-track regulatory approvals will drive the market growth. Factors that could hinder the growth of the market in the future include mass vaccination campaigns and variants of COVID-19.
The coronavirus (COVID-19) current therapy market is moderately concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 21.25% of the total market in 2020. Major players in the market include Gilead Sciences, Inc., F. Hoffmann-La Roche AG, Ipca Laboratories Limited, Zydus Cadila and Regeneron Pharmaceuticals Inc.
Player-adopted strategies in the coronavirus (COVID-19) current therapy market include expanding footprint and enhancing customer experience, expanding COVID-19 product portfolio by launching new products, strengthening business by increasing manufacturing capacities and strengthening product portfolio by receiving approval for new drugs.
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The coronavirus (COVID-19) current therapy market is segmented by drug type into antiviral, monoclonal antibodies, corticosteroid, supplements, antimalarial, interferons and interleukin inhibitors, other anti-infective drugs and others. The antiviral market was the largest segment of the coronavirus (COVID-19) current therapy market segmented by drug type, accounting for 33.5% of the total in 2020.
The coronavirus (COVID-19) current therapy market is also segmented by end-user into hospitals, clinics, home care, others. The hospitals market was the largest segment of the coronavirus (COVID-19) current therapy market segmented by end-user, accounting for 52.7% of the total in 2020.
North America was the largest region in the coronavirus (COVID-19) current therapy market, accounting for 44.0% of the total in 2020. It was followed by Asia Pacific, Western Europe and then the other regions.
The top opportunities in the coronavirus (COVID-19) current therapy market segmented by drug type will arise in the others segment, which will gain $45.9 million of global annual sales by 2025. The top opportunities in segment by end users will arise in the other end users segment, which will gain -$2,176.4 million of global annual sales by 2025. The coronavirus (COVID-19) current therapy market size will gain the most in the Indonesia at -$116.6 million.
Market-trend-based strategies for the coronavirus (COVID-19) current therapy market include investing in developing monoclonal antibody therapies, convalescent plasma therapies, cell-based therapies, and antiviral therapies, collaboration with government institutions and undergoing strategic partnerships with other pharmaceutical companies.
To take advantage of the opportunities, Altus Market Research recommends the coronavirus (COVID-19) current therapy companies to focus on monoclonal antibody therapy, focus on cell-based therapy, focus on antiviral therapy, focus on immunomodulators, focus on public investments, scale up through strategic collaborations, expand in emerging markets, focus on expanding in developed markets, focus on securing long-term supply contracts with healthcare institutions, provide competitively priced offerings, offer value-based pricing, leverage social media to maximize reach, participate in trade shows and events, increase visibility through business websites and healthcare websites and partnerships with end-users.
Competitive Landscape – This section covers details on the competitive landscape of the global coronavirus (COVID-19) current therapy market, estimated market shares and company profiles for the leading players.
Sun Pharmaceutical Industries Limited, AbbVie, Glenmark Pharmaceuticals Limited, Eli Lilly and Company, Wallace Pharmaceuticals, Inc., Mylab Discovery Solutions, Kalbe Farma, He Qi Group Foundation, Beijing Jinwofu Bioengineering Technology Company, Zhejiang Orient Gene Biotech Co. Ltd, Transasia Bio Medicals, Vanguard Diagnostics, HLL Lifecare Limited, Voxtur Bio Ltd, Regeneron Pharmaceuticals, Biocryst Pharma, Gilead Sciences, Clover Biopharmaceuticals, Inovio Pharmaceuticals, Inc., LAB-CARE Diagnostics, ImmunoScience, CPC Diagnostics, Sysmex Corporation, Abott, Atomo Diagnostics, Cellmid Limited, Moderna Therapeutics, Novavax, Bravovax, Ascletis Pharma, Altimmune, Hunan Lituo Biotechnology, Hangzhou Biotest Biotech, AmonMed Biotechnology, Getein Biotech, Beijing Tigsun Diagnostics, Vivacheck Lab, Seegene, SD Biosensor, Fujirebio, Siemens Healthcare Pte. Ltd., Senova, LetsGetChecked, Omega Diagnostics, Abingdon Health, Babylon, Motologic, F. Hoffmann-La Roche Ltd., Novacyt Group, AstraZeneca, Pfizer, Mylan, Zentiva, Boehringer Ingelheim, GlaxoSmithKline, Merck & Co., Novartis AG, Teva Pharmaceutical Industries Ltd., Sanofi, Amgen and AdaptiveBiotechnologies, BioNtech, Cytodyn, Heat biologics, Inovio pharmaceuticals, Johnson&Johnson, Moderna, Rochi, Takeda pharmaceuticals, Vaxart, Vir Biotechnology, Victory Square Health, Abbott Molecular Inc., ACRO Biotech, Advagen Biotech Ltd, BD, Boditech Med, Inc., Cellex Inc., CerTest Biotec, S.L., Hi Technologies, BATM, BioMedomics Quant Lease, CapeBio, Astel Diagnostics, Canary Health Technologies, Thermo Fisher Scientific, BioMedomics, CTK Biotech