The initial novel coronavirus outbreak in China led to COVID-19 pandemic. COVID-19 has rapidly affected millions of lives worldwide thereafter. For instance, in U.S by the end of June 2020 there were approximately 3.1 million total cases with active cases being around 1.5 million. Rapid surge in the number of COVID-19 cases is expected to drive the growth of remdesivir market. Moreover, results from the NIAID study on patients hospitalized with COVID-19 showcased that remdesivir shortened time to recovery by an average of four days. This positive result is expected to spur its demand in the coming years.
The Remdesivir Market is segmented on the basis of Form, Patient Type, Application and region.
Major Form of Remdesivir Market covered are:
- Lyophilized Powder
- Concentrated Solution
Major Patient Type of Remdesivir Market covered are:
- Pediatric Patient
- Adult Patients
Major End Users of Remdesivir Market covered are:
- Hospitals
- Clinics
Moreover, amidst the current COVID-19 pandemic, there is an increasing need for a drug that can be used for the treatment of patient with severe COVID-19. There are many companies that are striving to find the potential of different existing drugs that can be used to meet need of this situation. Remdesivir is one such investigational drug that has been given Emergency Use Authorization (EUA) by U.S.FDA, to be used for treating hospitalized adult & pediatric patients with suspected or laboratory confirmed SARS-CoV-2 infection and severe COVID-19. The decision to give an EUA was done after a clinical trial by the National Institutes of Health (NIH) showed promising results. Such initiatives by the government owing to increasing need for a treatment medicine are anticipated to boost the remdesivir market.
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