The global Coronavirus Treatment Drugs Market is estimated to be valued at US$ 25,812.99 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Coronavirus treatment drugs are used to cure coronavirus disease (COVID-19) infected patients. These drugs help reduce the severity of symptoms, duration of illness and mortality rates. Some of the key treatment drugs include antiviral medications that inhibit virus replication in the human body. Market key trends: One of the key trends in the coronavirus treatment drugs market is the rise of AI-driven drug discovery for COVID-19. Several biotechs are applying machine learning and deep learning algorithms to artificial intelligence to discover novel drug molecules for coronavirus in a fraction of time compared to conventional methods. AI is helping speed up the process of screening through thousands of chemical compounds to identify the most promising ones for further testing. It is also aiding in optimizing existing drug molecules to make them more effective coronavirus therapeutics. This is significantly fueling innovation and new product pipeline in the market. Segment Analysis The global coronavirus treatment drugs market is segmented into vaccines, anti-viral drugs, and supportive care drugs. The vaccines segment dominated the market in 2023 and is expected to continue its dominance over the forecast period owing to the widespread vaccination drives globally to curb the spread of the virus. Vaccines help in preventing infection and spread of the virus. Key Takeaways Market size: The global Coronavirus Treatment Drugs Market Share is expected to witness high growth, exhibiting a CAGR of 17.% over the forecast period, due to increasing research and development activities focused on developing effective drugs for coronavirus treatment and prevention. Regional analysis: North America dominated the global market in 2023 and is expected to remain the highest revenue generating region during the forecast period. The rising incidence of coronavirus disease and presence of key market players in the region is driving the market growth. Key players: Key players operating in the coronavirus treatment drugs market are nSerum Institute of India, Pfizer Inc., AstraZeneca plc., Bharat Biotech International Limited, Cadila Healthcare Limited, Johnson & Johnson, Moderna, GlaxoSmithKline plc., CanSino Biologics, Sinovac Biotech, Novavax, Inc., Glenmark Pharmaceuticals Limited, Dr. Reddy's Laboratories, and Merck & Co., Inc. These players are focusing on developing effective drugs for prevention and treatment of coronavirus infection. Read More, https://www.insightprobing.com/coronavirus-treatment-drugs-market-trends-size-and-share/
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