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The COVID therapy market includes drugs in the form of antivirals, MAbs, and more. However, the market is set to see decline in the forecast period.
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Mar 15, 2022, 11:40 ET
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LONDON, March 15, 2022 /PRNewswire/ — Coronavirus (COVID-19) current therapy market segmentation is done by drug type into antiviral, monoclonal antibodies, corticosteroid, supplements, antimalarial, interferons and interleukin inhibitors, other anti-infective drugs and others. The antiviral was the largest segment of the coronavirus (COVID-19) current therapy market segmented by drug type, accounting for 35.0% of the total in 2020.
The global coronavirus (COVID-19) current therapy market size is expected to decline from $28.16 billion in 2021 to $16.43 billion in 2022 at a compound annual growth rate (CAGR) of -41.7%. The decline in the COVID-19 current therapy market growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The COVID-19 current therapy market is expected to decline to $1.57 billion in 2026 at a CAGR of -44.4%.
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COVID-19 Current Therapy Market Focuses On MAbs Treatment
Monoclonal antibody therapy is major among coronavirus (COVID-19) current therapy market trends being followed to develop a short-term way to treat people. Monoclonal antibody therapy involves the infusion of monoclonal antibodies that are similar to the ones synthesized in the human body naturally in response to infection. These are designed in the laboratory to recognize a specific component of this virus and interfere with the virus activity that attaches and enters into human cells. In this approach of antibody therapy, researchers started isolating antibodies from recovering patients and identifying the best that can neutralize the virus and keeping it from replicating; they then produced these antibodies in bulk in the laboratory.
Key Players And Their Strategies In The Coronavirus (COVID-19) Current Therapy Industry
The coronavirus (COVID-19) current therapy industry growth analysis includes the competitive landscape, which is moderately concentrated with a small number of large players dominating the market. The top ten competitors in the market made up to 21.25% of the total market in 2020. Major players in the market include Gilead Sciences, Inc., F. Hoffmann-La Roche AG, Ipca Laboratories Limited, Zydus Cadila, and Regeneron Pharmaceuticals Inc.
The increasing number of strategic collaborations between pharmaceuticals companies to develop and distribute new treatments for COVID-19 across the globe is a major trend in the market. For instance, in October 2020, Novartis, a Switzerland-based pharmaceutical company, and Molecular Partners AG, a Switzerland-based clinical-stage biopharmaceutical company, announced an option and license agreement to develop, manufacture, and commercialize Molecular Partners’ anti-COVID-19 DARPin® program, which includes two therapeutic candidates, MP0420 and MP0423. MP0420 and MP0423 are potential medicines for the prevention and treatment of COVID-19, with the ability to be mass-produced and bypass cold storage.
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