PUBLISHER: The Business Research Company | PRODUCT CODE: 1657248
PUBLISHER: The Business Research Company | PRODUCT CODE: 1657248
coronavirus (COVID-19) current therapy refers to the range of pharmaceutical treatments and therapeutic interventions used to manage and treat the symptoms of COVID-19, reduce viral load and prevent severe outcomes such as hospitalization or death. These therapies target the SARS-CoV-2 (Severe Acute Respiratory Syndrome Coronavirus 2) virus, associated inflammation and complications caused by the disease, aiming to improve recovery rates and minimize long-term health impacts.
The coronavirus (COVID-19) current therapy market consists of sales, by entities (organizations, sole traders, or partnerships), of coronavirus (COVID-19) current therapy that are utilized by a wide demographic of patients diagnosed with the virus, encompassing mild, moderate and severe cases. These treatments are employed in both acute and long-term care scenarios, ranging from early-stage intervention to advanced care for critically ill patients. The therapies are often used in combination with supportive measures such as oxygen therapy, mechanical ventilation and other critical care practices, complementing the mainstay antiviral and anti-inflammatory drugs.
The global coronavirus (COVID-19) current therapy market declined to $9,367.71 million in 2024.
Expanding Clinical Trials
During the historic period, the expanding clinical trials supported the growth of coronavirus (COVID-19) current therapy market. Clinical trials play a crucial role in systematically evaluating the safety and efficacy of emerging treatments, which builds trust among healthcare providers and patients. Positive outcomes from these trials support regulatory approvals, facilitating the widespread adoption of new therapies. Results from clinical trials, particularly Phase II and Phase III studies, provide the necessary data for regulatory bodies to expedite approval processes. These accelerated approvals have contributed to the swift introduction of new therapies, enhancing the landscape of COVID-19 treatments. For instance, in November 2023, according to a report published by the Association of the British Pharmaceutical Industry (ABPI), a UK-based association, there were 394 trials in 2021; the clinical trial number increased to 411 in 2022. Additionally, in May 2023, according to Xtalks, a Canada-based company specializing in providing life science webinars and virtual events, there are 452,604 clinical studies that have been registered on ClinicalTrials.gov as of May 17, 2023. 64,838 studies out of the total number that have been registered are actively seeking participants which is an increase of 365,000 registered trials in 2021. Therefore, the expanding clinical trials drove the growth of coronavirus (COVID-19) current therapy market.
Advancements In Antiviral Drug Development For COVID-19 Treatment
Companies operating in the coronavirus (COVID-19) current therapy market are focusing on developing antiviral drugs to address the evolving needs of patients and enhance therapeutic outcomes. Antiviral drugs are specialized treatments developed to combat viral infections by disrupting the replication and spread of viruses within the body. Antiviral drugs are uniquely tailored to target viruses. For instance, in May 2023, Pfizer Inc., a US-based pharmaceutical company received approval from the U.S. Food and Drug Administration (FDA) for the oral antiviral treatment, PAXLOVID. This drug is used for the treatment of adults with mild-to-moderate COVID-19 who are at high risk of severe outcomes, including hospitalization or death. Clinical studies have shown that PAXLOVID significantly reduces the risk of hospitalization or death by approximately 86% when administered within five days of symptom onset.
The global coronavirus (COVID-19) current therapy market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 40.4% of the total market in 2023.
Coronavirus (COVID-19) Current Therapy Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global coronavirus (COVID-19) current therapy market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for coronavirus (COVID-19) current therapy? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The coronavirus (COVID-19) current therapy market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider coronavirus (COVID-19) current therapy market; and compares it with other markets.