The coronavirus treatment drugs market comprises drugs that are being developed to treat coronavirus disease also known as Covid-19. Some of the drugs under research and development include antiviral drugs like Remdesivir, monoclonal antibody therapies and other potential drugs. Coronavirus disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) has spread globally and become a pandemic. There is an urgent need to develop effective and safe treatment for coronavirus infection to reduce morbidity and mortality associated with the virus.

The global coronavirus treatment drugs market is estimated to be valued at US$19 billion in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the coronavirus treatment drugs are Gilead Sciences, Regeneron Pharmaceuticals, Eli Lilly and Company, AbbVie, Inovio Pharmaceuticals and Moderna. Some of the major ongoing clinical trials include REMAP-CAP, ACTT-1, DISCOVER, SOLIDARITY etc. Monoclonal antibody therapies like Regeneron's REGN-COV2 shows promising results in reducing viral load and improving symptoms. Several companies are ramping up their production capacities to meet the growing demand for coronavirus treatment once approved. The US and European regions are expected to hold a major share in the global coronavirus treatment drugs market owing to the high number of Covid-19 cases.

Market Drivers

The rising number of Covid-19 cases globally is the major Coronavirus Treatment Drugs Market Growth. As there is no approved vaccine yet for Covid-19, development of effective treatment assumes significance. Several late stage clinical trials of potential drugs are ongoing and regulatory approvals are expected soon which will boost the market growth. Increased investments from governments and private players have expedited research and development activities for coronavirus treatment drugs. Once approved, these drugs will witness high demands from hospitals, pharmacy stores and Covid-19 treatment centers across the globe.

PEST Analysis

Political: Government initiatives and funding for research and development of coronavirus treatment drugs.

Economical: Healthcare spending and budget allocation for treatment of Covid patients.

Social: Spread of the virus and impact on daily lives increases demand for effective treatment options.

Technological: Advancements in drug development processes and testing methods help shorten product development times.

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