Market Industry Reports (MIR) has published a new report titled “Favipiravir Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the global favipiravir market is expected to witness a substantial CAGR from 2020 to 2030.
To deal with the current situation of COVID-19 pandemic, there are increasing Emergency Use Authorizations (EUAs) granted for drugs, which have shown promising results against COVID- 19. In February 2020, favipiravir was first studied in China for experimental treatment of the emergent COVID-19 pandemic. Owing to the positive results shown by favipiravir, several countries are granting emergency approvals for the treatment of COVID-19 patients showing mild to moderate symptoms. For instance, in June 2020, Glenmark Pharmaceuticals received manufacturing & marketing approval for antiviral drug Favipiravir (brand name FabiFlu) for such treatment in India. It has shown clinical improvements of up to 88% in COVID-19, with a rapid reduction in the viral load in around four days.
Top Players:
Some of the prominent players in the global favipiravir market are FUJIFILM Toyama Chemical Co., Ltd., Zhejiang Hisun Pharmaceutical Co., Ltd., HTC “Chemrar”, Beximco Pharmaceuticals Ltd., Beacon Pharmaceuticals Limited, Glenmark Pharmaceuticals Ltd., Rameda, Dr. Reddy’s Laboratories Ltd., and Strides Pharma Science Limited, among others.
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