Favipiravir Market Size by Region, Segment-Level Market Assessment, Growth Opportunity Analysis, Competitive Mapping & Forecast to 2032
Overview
Global Favipiravir Market is expected to grow at a CAGR of 7.46% during the forecast period and the market size is expected to reach nearly US$ 2.25 Bn by 2032.
Favipiravir Market Overview:
Favipiravir is a generic drug with a brand name sold under Avigan and molecular formula C5H4FN3O2. The drug is also sold under the name of Avigan, Avifavir, Areplivir, Fabiflu, and favipiravir. Favipiravir is a drug used in the treatment of viral infection as an antiviral medication. This drug was first discovered in 2014 in Japan for the treatment of influenza.
The global Favipiravir market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Favipiravir market report also provides trends by market segments, technology, and investment with a competitive landscape.
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Favipiravir drug was first developed and manufactured by Toyoma Chemicals (FujiFilm Group) and approved in the year 2014. And In 2016, Fujifilm licensed Active pharmaceutical ingredient (API) to Zhejiang Hisun Pharmaceutical Co. of china. And became a generic drug in 2019. Recently, the Favipiravir drug has been used in the treatment of SARS-COV-2 (COVID-19).
The mechanism of action is through selective inhibitions of viral RNA-dependent RNA polymerase. Favipiravir is a prodrug that is metabolized to its active form, favipiravir-ribofuranosyl-5'triphosphate (Favipiravir-RTP) when administered into the body. The drug is available in both forms oral as well intravenous. However, along with the advantages, the drug also comes with some side effects like teratogenic and embryotoxic effects in pregnant women.
Favipiravir Market Dynamics:
Favipiravir a generics drug used in the treatment of COVID-19 with mild or moderate symptoms to inhibit the growth of coronavirus proliferation. The drug has become the largest-selling drug in India with sales of up to 140cr with locally made version. According to All India Origin Chemists and Distributors (AIOCD) Favipiravir is the only drug molecule to cross 100 cr. and registered the fastest-growing Domestic Brand in India after the launch in June 2020.
To deal with the current COVID-19 pandemic situation Emergency Use Authorization (EAU) of the drug has increased to grand the drug for production and clinical trials. Favipiravir is the drug that has shown promising results in COVID-19 and acts as an opportunity to market players for developing the business and grow with the market. The factor responsible for the growth of the Favipiravir market is the extraordinary demand and supply of the drug to meet the pandemic situation.
For Instance, major key players like Glenmark Pharmaceuticals on June 22, 2020 launched the first oral antiviral drug Favipiravir with the company brand name FabiFlu with manufacturing and marketing approvals from India's Drug Regulatory Authorities. Recently Bajaj Healthcare has also announced to launch the drug favipiravir under the brand name Favijaj to meet the growing demand of pandemic and the company has received the approval from Drug Controller General of India (DCGI). This factor acts as an opportunity for other budding organizations to enter the market.
Strict rules and regulations imposed by the government due to huge contaminations of COVID-19 all over the world are acting as a major challenge for the manufacturing units to progress with large scale production due to lack of raw material supply, inaccessibility of labors, fluctuating transport facilities are acting as a challenge to the key market players.
Favipiravir Market Segment Analysis:
By tablet Form, the segment table form is trifurcated into 200mg, 400mg, and 800mg. 800mg tablet is dominating the market due to dose convenience of 1600mg per day. i.e. 800mg tablet twice a day and increased the market by revenue. Due to the high demand for 800mg tablets and huge shortage in supply and transport 400mg tablet sale was increased for a while.
By Application, the segment application can be set apart into the COVID-19, Ebola, Nipah, and others. The sub-segment COVID-19 is dominating the market due to the high growth rate of contamination and no vaccine is available in the market. India has reported 3,57,229 new cases and 3449 deaths have been reported recently. However, the death rate has been decreased due to low mobility around the world.
By Distribution Channel, the segment is trifurcated into Hospitals, Online, and Retail shops. The sub-segment hospital is dominating the market due to higher admission of a patient into the hospital and the facilities of insurance policy and proper treatment provided and 24/7 monitoring by the hospital authorities.
Favipiravir Market Regional Insights:
The Asia Pacific is dominating the market with the highest cases in China, India and leading with the market share in terms of revenue. The presence of major market players like Fujifilm Toyoma Chemicals Co., Glenmark Pharmaceuticals. Cipla Limited is supplementing the region to grow. The rate of increasing disposable income, rising awareness about healthcare facilities, huge investment into research and development, growing health infrastructure, and Emergency use Approvals by the government are the factors responsible for the regional growth. The leading countries of Asia Pacific are Japan, China, and India who contribute to the region in market growth.
The objective of the report is to present a comprehensive analysis of the global Favipiravir market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Favipiravir market dynamics, structure by analyzing the market segments and project the global Favipiravir market size. Clear representation of competitive analysis of key players by Form, price, financial position, Form portfolio, growth strategies, and regional presence in the global Favipiravir market make the report investor’s guide.
Favipiravir Market Scope: Inquire before buying
| Global Favipiravir Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2025 | Forecast Period: | 2026-2032 |
| Historical Data: | 2020 to 2025 | Market Size in 2025: | 1.36 USD Billion |
| Forecast Period 2026-2032 CAGR: | 7.46% | Market Size in 2032: | 2.25 USD Billion |
| Segments Covered: | by Drug Type | Original Drug (Brand) Generic Drug |
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| by Tablet Form | 200mg 400mg 800mg |
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| by Application | Influenza viruses COVID-19 (Coronavirus) Severe Acute Respiratory Syndrome (SARS) Ebola Other viral infections |
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| by Distribution Channel | Hospital Pharmacies Retail Pharmacies Online Pharmacies |
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Favipiravir Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Favipiravir Market Key Players
1. Fujifilm Toyama Chemical Co., Ltd.
2. Glenmark Pharmaceuticals Ltd.
3. Dr. Reddy’s Laboratories Ltd.
4. Cipla Ltd.
5. Sun Pharmaceutical Industries Ltd.
6. Lupin Limited
7. R-Pharm JSC
8. Zhejiang Hisun Pharmaceutical Co., Ltd.
9. CSPC Pharmaceutical Group Limited
10. Shandong Reyoung Pharmaceutical Co., Ltd.
11. Sihuan Pharmaceutical Holdings Group Ltd.
12. Beacon Pharmaceuticals Ltd.
13. Hetero Labs Limited
14. Aurobindo Pharma Limited
15. MSN Laboratories Pvt. Ltd.
16. Teva Pharmaceutical Industries Ltd.
17. Apotex Inc.
18. Jubilant Pharmova Limited
19. Beximco Pharmaceuticals Ltd.
20. Zydus Lifesciences Limited
Frequently Asked Questions:
1. Which region has the largest share in Global Favipiravir Market?
Ans: Asia Pacific region holds the highest share in 2025.
2. What is the growth rate of Global Favipiravir Market?
Ans: The Global market is growing at a CAGR of 7.46% during forecasting period.
3. What is scope of the Global Favipiravir market report?
Ans: Global market report helps with the PESTEL, PORTER, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Favipiravir market?
Ans: The important key players in the Global market are – Glenmark, Fujifilm, Dr. Reddy, R-Pharma, Cipla, Lupin, Sun Pharma, Hisun Pharm, CSPC Pharmaceutical Group, Reyoung Pharmaceutical, and Sihuan Pharmaceutical
5. What is the study period of this market?
Ans: The Global market is studied from 2025 to 2032.