The Coronavirus or the COVID-19 is a contagious disease, which is caused by novel coronavirus. Generally, the COVID-19 infected patients show common to severe respiratory illness. Some patients recover without any special treatment, whereas the patients aging 50 and above, and the other patients who have previous health issues such as kidney failure, hypertension and diabetes are at highly prone to infection and are required to be treated specially. As of now, there are no specific medications or drugs for the treatment of coronavirus. The patients with mild symptoms are prescribed by health physicians to undergo anti-viral therapies.
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Impact of Coronavirus (COVID-19)
Since the COVID-19 emergence in December 2019, the pandemic has rolled out in over 100 countries globally and is declared as a public health emergency by the World Health Organization (WHO). The treatment of COVID-19 is currently unavailable while numerous pharma companies have prescribed medications for several other health conditions but those are not much successful in treating COVID-19. In October 2020, the U.S. National Library of Medicine claimed that the Remdesivir and dexamethasone are safe for treating patients with moderate and mild symptoms of COVID-19.
Rising cases of COVID-19 pandemic are expected to drive growth of the global coronavirus treatment drugs market over the forecast period. As per the report from World Health Organization (WHO), the COVID-19 has infected over 110 million individual as of February 2021.
Major pharma companies are focusing on development of vaccines and potential treatments for COVID-19 virus. This factor is expected to boost the growth of global coronavirus treatment drugs market over the forecast period. In May 2020, the Washington University of Medicine had begun the investigational testing to study on the effectiveness of Duvelisib drug as a potential treatment for COVID-19.
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Every new mutation or variation of COVID-19 requires a new vaccine or drug for treatment which will result in fluctuations in the research work and termination of drug production. This factor is expected to restrain growth of the global coronavirus treatment drugs market during the forecast period.
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North America is expected to experience a robust growth in the global coronavirus treatment drugs market over the forecast period. In June 2020, the Tufts Medical Center had done an investigational study on an infliximab drug, which was supposed to diagnose the patients with mild COVID-19 symptoms.
Asia Pacific is also expected to witness a significant growth in the global coronavirus treatment drugs market during the forecast period.
Major players contributing in the global coronavirus treatment drugs market are Serum Institute of India, Pfizer Inc., AstraZeneca plc, Bharat Biotech International Limited, Cadila Healthcare Limited, Johnson & Johnson, Moderna, GlaxoSmithKline plc, CanSino Biologics, Sinovac Biotech, Novavax, Inc., Glenmark Pharmaceuticals Limited, Dr. Reddy’s Laboratories, and Merck & Co., Inc.
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