Remdesivir Market: Global Industry Analysis and Forecast (2023-2029)

Remdesivir Market size is expected to grow from US$ 8.20 Bn. in 2022 to US$ 11.53 Bn. by 2029, growing at a CAGR of 5.0% through 2023 to 2029. Adult Patient segment leads the Remdesivir Market by 2029.
Remdesivir Market Overview:
The Global Remdesivir market was valued at US $ 8.20 Bn. in 2022, and it is expected to reach US $ 11.53 Bn. by 2029 with a CAGR of 5.0% during the forecast period. Remdesivir is an antiviral medication used to treat coronavirus disease 2019 (COVID-19), a coronavirus disease caused by the SARS-CoV-2 virus. Remdesivir is a prodrug of a nucleotide analogue that inhibits viral RNA polymerases after being digested intracellularly to an analogue of adenosine triphosphate. Remdesivir has not been subjected to the FDA's regular review process before being licenced for use.To know about the Research Methodology :- Request Free Sample Report

The FDA has granted an Emergency Use Authorization (EUA) to allow Remdesivir to be given to adults and children who are hospitalised with severe COVID-19. In vitro and in vivo in animal models, Remdesivir exhibits broad-spectrum antiviral action against a variety of emerging viral diseases, including Ebola, SARS, Marburg, MERS, and SARS-CoV-2, the virus that causes COVID-19.
Remdesivir Market Dynamics:
The fast-growing necessity for a medicine used in the treatment of a patient with severe COVID-19 symptoms is driving the remdesivir market. The high frequency of pandemics such as COVID-19 and Ebola, as well as the growing dominance of viral infections, are all contributing to a rise in the global market. Remdesivir (RDV) is one of the most promising medications now being used to treat COVID19 disease, and it will have a significant impact on remdesivir market trends in the next years.

Furthermore, the increased focus on making remdesivir both available and inexpensive to governments and patients around the world has contributed to the growth of the remdesivir market in recent years. Because of the rising demand for Remdesivir in different parts of the country as a result of the COVID-19 outbreak, the government has boosted the monthly production of Remdesivir by 10.5 million units.

Due to the increased demand for Remdesivir and the necessity for the pandemic, pharma manufacturers are increasing production. While the market may be hampered by a lack of understanding regarding the medicine remdesivir's safety and efficacy in the treatment of COVID-19 patients in hospitals. In this unstable lockdown situation, the supply chain and transportation of the drug are projected to stymie the remdesivir market's growth during the forecast period 2023-2029.

The high Research & Development market share in the Remdesivir market is boosting the market's growth. In addition, significant investment in research and development to investigate additional uses of remdesivir provides a chance for key companies to generate more income during the projection period. As a result, these factors will speed the expansion of the remdesivir market while also presenting a significant potential opportunity.

The scarcity of raw materials and packing materials in this pandemic poses a challenge to the market's industrial facilities. The US government imposed an embargo on the export of raw and packaging materials, essential consumables, and equipment required for the manufacture of COVID-19 vaccinations for Instant.
Remdesivir Market Segment Analysis:
The Global Remdesivir Market is segmented by Patient Type, Form, and End-User.

Based on the Patient Type, the market is segmented into Pediatric Patient, and Adult Patient. Adult Patient segment is expected to hold the largest market share of xx% by 2029. Due to a lack of immunity and an unhealthy lifestyle, adult patients are more susceptible to COVID-19 infection. According to the US Centres for Disease Control and Prevention (CDC), over the summer in the United States, people under the age of 30 accounted for more than 20% of COVID-19 cases and were considered to be more likely to spread the virus than others. This trend has lasted into the autumn.

According to one study, 23% of over 3,000 adults aged 18 to 35 who restrict COVID-19 and get unwell enough to require hospital care ended up in intensive care, 10% were put on a breathing machine, and 2.8 percent died. These are the key factor that drives the growth of this segment in the Global market during the forecast period 2023-2029.Based on the Form, the market is segmented into Lyophilized Powder and Concentrated Solution. The lyophilized powder segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Vaccines, blood samples, pure proteins, and other biological materials are all preserved through lyophilization in the biotechnology and medicinal industries. To preserve your culture collection, utilise any commercially available freeze dryer with this simple laboratory process. These are the factor that drives the growth of this segment in the global market during the forecast period 2023-2029.

Based on the End-User, the market is segmented into hospitals, clinics, and drug stores. The hospital segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. In the hospital segment, a commercial drug distributor is in charge of distribution, while government officials are in charge of deciding which hospitals obtain the drug. Because the medication is an infusion, it will not be available in retail or specialised pharmacies. Remdesivir is only allowed to be distributed for the treatment of COVID-19 patients who are hospitalised. Other viruses or infections are not allowed to be treated with it.

The government has placed restrictions on drug stores selling remdesivir on the market. Only hospitals receive the medicine straight from the manufacturer. The medicine can be allowed based on the success rate and negative effects. These are the key factor that boosts the growth of this segment in the global market during the forecast period 2023-2029.
Remdesivir Market Regional Insights:
North America dominates the Global Remdesivir market during the forecast period 2023-2029. North America is expected to hold the largest market share of xx% by 2029. The rising demand for remdesivir in the North American region due to the growing number of COVID-19 cases is the key factor that is expected to boost the growth of the North America region in the global remdesivir market during the forecast period 2023-2029.

Europe is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Due to the EMA's recommendation for the use of Remdesivir in COVID-19 care, Europe is expected to see significant growth in total demand for Remdesivir during the forecast period.

Asia-Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Owing to the high rate of COVID-19 pandemic in the region, the Asia-Pacific market is expected to grow rapidly. This is due to the extensive usage of the drug for COVID-19 treatment in countries such as China, Japan, India, and others. Furthermore, the Indian Council of Medical Research (ICMR) has recently questioned the drug's manufacturing by significant market participants in the Indian pharmaceutical sector, and Dr. Reddy Laboratories has begun the process with its generic form. These are the major key drivers that drive the growth of this region in the global market during the forecast period 2023-2029.

The Middle East and Africa (MEA) is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Due to an increase of COVID-19 cases, the Middle East and Africa are one of the fastest-growing markets. To address the region's medicine shortage, Gilead Sciences, Inc. partnered with Egypt's pharmaceutical company and UAE pharmaceutical companies to produce the remdesivir drug.

The objective of the report is to present a comprehensive analysis of the Global Remdesivir 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, 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 reports also help in understanding the Global Remdesivir Market dynamic, structure by analyzing the market segments and project the Global Remdesivir Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Remdesivir Market make the report investor’s guide.
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Global Remdesivir Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 8.20 Bn.


Forecast Period 2023 to 2029 CAGR:
5%
Market Size in 2029:
US $ 11.53 Bn.


 Segments Covered:
by Patient Type
•Pediatric Patient
• Adult Patient


by Form
• Lyophilized Powder
• Concentrated Solution


by End User
• Hospital
• Clinics
• Drug store


by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)



Remdesivir Market, Key Players are:
• Gilead Sciences, Inc.
• BrightGene Bio-Medical Technology Co., Ltd
• Hainan Haiyao Co., Ltd.
• EVA PHARM
• Cipla Inc.
• Mylan N.V.
• Hetero.
• Ferozsons Laboratories.
• Zydus Cadila.
• Dr. Reddy’s Laboratories Ltd.
• Beximco Pharmaceuticals Ltd.
• Jubilant Pharma
• Syngene

Frequently Asked Questions:

1] What segments are covered in Global Remdesivir Market report?
Ans. The segments covered in Global Remdesivir Market report are based on Patient Type, Form, and End-User.

2] Which region is expected to hold the highest share in the Global Remdesivir Market?
Ans. North America is expected to hold the highest share in the Global Remdesivir Market.

3] Who are the top key players in the Global Remdesivir Market?
Ans. Gilead Sciences, Inc., BrightGene Bio-Medical Technology Co., Ltd, Hainan Haiyao Co., Ltd., EVA PHARM, and Cipla Inc. are the top key players in the Global Remdesivir Market.

4] Which segment holds the largest market share in the Global Remdesivir market by 2029?
Ans. Adult Patient segment hold the largest market share in the Global Remdesivir market by 2029.

5] What is the market size of the Global Remdesivir market by 2029?
Ans. The market size of the Global Remdesivir market is US $ 11.54 Bn. by 2029.

6] What was the market size of the Global Remdesivir market in 2022?
Ans. The market size of the Global Remdesivir market was worth US $ 8.20 Bn. in 2022.