To deal with the current situation of COVID-19 pandemic, there are increasing Emergency Use Authorizations (EUAs) granted for drugs, which have shown promising results against COVID- 19. In February 2020, favipiravir was first studied in China for experimental treatment of the emergent COVID-19 pandemic. Owing to the positive results shown by favipiravir, several countries are granting emergency approvals for the treatment of COVID-19 patients showing mild to moderate symptoms. For instance, in June 2020, Glenmark Pharmaceuticals received manufacturing & marketing approval for antiviral drug Favipiravir (brand name FabiFlu) for such treatment in India. It has shown clinical improvements of up to 88% in COVID-19, with a rapid reduction in the viral load in around four days.
Market Industry Reports (MIR) has published a new report titled “Favipiravir Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global favipiravir market is expected to witness a substantial CAGR from 2020 to 2030.
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Some of the prominent players in the Favipiravir Market include:
FUJIFILM Toyama Chemical Co.
• Zhejiang Hisun Pharmaceutical Co.
• HTC “Chemrar”
• Beximco Pharmaceuticals Ltd.
• Beacon Pharmaceuticals Limited
• Glenmark Pharmaceuticals Ltd.
• Dr. Reddy’s Laboratories Ltd.
• and Strides Pharma Science Limited
Another factor contributing to the growth of the favipiravir market is the accelerated production of the drug to meet the growing demand for the treatment of COVID-19. For instance, in April 2020, FUJIFILM Corporation expanded its manufacturing capacity at FUJIFILM Toyama Chemical Co., Ltd. to boost the production of its influenza antiviral drug, Avigan Tablet. In the future, the company is planning to accelerate production up to 300,000 treatment courses by September 2020. Additionally, it is establishing strategic partnerships with domestic and overseas companies to source raw materials and pharmaceutical substances for various manufacturing processes.
The favipiravir market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
(Influenza and COVID-19), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online)
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottom Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations/Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- GLOBAL FAVIPIRAVIR MARKET – ANALYSIS & FORECAST, BY APPLICATION
- GLOBAL FAVIPIRAVIR MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
- Hospital Pharmacies
- Retail Pharmacies
- GLOBAL FAVIPIRAVIR MARKET – ANALYSIS & FORECAST, BY REGION
- North America Favipiravir Marke
- Europe Favipiravir Market
- Asia Pacific Favipiravir Market
- Rest of the World (ROW) Favipiravir Market
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