Global Remdesivir Drugs Market: Introduction
Remdesivir is an antiviral medication being studied for the treatment of coronavirus disease 2019 (COVID-19) caused by the SARS-CoV-2 virus. Remdesivir is a prodrug of a nucleotide analogue that is intracellularly metabolized to an analogue of adenosine triphosphate that inhibits viral RNA polymerases. Remdesivir has not undergone the standard review to be approved by the FDA for use. However, the FDA has approved an Emergency Use Authorization (EUA) to allow adults and children who are hospitalized with severe COVID-19 to receive Remdesivir. Remdesivir has broad-spectrum antiviral activity both in vitro and in vivo in animal models against multiple emerging viral pathogens, including Ebola, SARS, Marburg, MERS and SARS-CoV-2; the virus that causes COVID-19.
Key Drivers of Global Remdesivir Drugs Market
Rise in geriatric population
The global geriatric population continues to increase at an unprecedented rate. Presently, 8.5% of people across the world (617 million) are aged 65 and over. According to a new report – An Aging World: 2015, the percentage is projected to jump to nearly 17% of the world’s population by 2050 (1.6 billion). According to the National Institutes of Health, the population aged 65 and over in the U.S. is anticipated to nearly double in the next three decades, from 48 million to 88 million by 2050. The global population aged 80 and older is expected to more than triple between 2015 and 2050, from 126.5 million to 446.6 million. The population aged 80 and older in some countries in Asia and Latin America is likely to quadruple by 2050.
Increasing prevalence of COVID-19
According to Spandidos Publications 2020- Molecular Medicine Reports, the global spread of COVID?19 can be described as the worst pandemic in humanity in the last century. To date, COVID?19 has infected more than 3,000,000 people worldwide and killed more than 200,000 people. Obese patients are at a higher risk of hospital admission regardless of their viral status. Furthermore, obese patients are at a higher risk of hospitalization as compared to normo-ponderal ones, when affected by influenza. The World Health Organization (WHO) has characterized both the COVID-19 outbreak and obesity ‘epidemic’ as international public health emergencies. Global clinical and epidemiological observations confirm that CoVs can cause more severe symptoms and complications in people with obesity-related conditions. According to WHO World Health Organization, on March 19, 2020, around 209 839 (16 556) confirmed cases of COVID-19 and 8778 deaths (828) were recorded globally.
North America to Account for Major Share of Global Remdesivir Drugs Market
- North America is projected to account for major share of the global Remdesivir drugs market during the forecast period. The market in the region is anticipated to expand at a rapid pace in the next few years due to an increase in research & development and various government initiatives to reduce the pandemic conditions. Europe is expected to be the second-largest market during the forecast period.
- The Remdesivir drugs market in Asia Pacific is likely to expand at a high CAGR during the forecast period.
Key Players Operating in Global Remdesivir Drugs Market
The global Remdesivir drugs market is highly consolidated owing to the presence of several key players. Leading players operating in the global Remdesivir drugs market include:
- Gilead Sciences, Inc.
- Bright Gene
- Hainan Haiyao
- Kelun Pharma
- Hunan Warrant Pharmaceutical
- Mylan (US)
- Cipla (India)
- Hetero Labs (India)
- Jubilant Life Science
Global Remdesivir Drugs Market: Research Scope
Global Remdesivir Drugs Market, by Dosage
- 10 mg
Global Remdesivir Drugs Market, by Route of Administration
Global Remdesivir Drugs Market, by Form
- Frozen Solution
- Lyophilized Solution
Global Remdesivir Drugs Market, by End-user
- Drug stores
Global Remdesivir Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.