2020-2027 Analysis and Review Favipiravir Market

Favipiravir Market

Favipiravir Market by Treatment (Influenza, Ebola, COVID-19 and Others) by Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027

04-04-2020 REP-HC-5060 40 Tables 122 pages Format

The favipiravir market was valued at USD152.5Mn by 2019. Rising prevalence of RNA viral infection such as influenza, ebola, etc. throughout the globe primarily determines the favipiravir market growth. Additionally promising clinical trial studies pertaining to the therapeutic efficacy and safety of favipiravir in the treatment of COVID-19 infection further accentuates its market growth.

 Favipiravir Market

Favipiravir is a modified pyrazine analog that is developed for the treatment of resistant cases of influenza, it acts against the RNA-dependent RNA polymerase enzymes which are essential for the replication of the viral genome.

The major segments related to the favipiravir market are:

By Treatment (2017–2027; US$ Mn)

Influenza

Ebola

COVID-19

Others

By Distribution Channel (2017–2027; US$ Mn)

Hospital Pharmacy

Retail Pharmacy

Others

Geography Segment(2017–2027; US$ Mn)

North America

United States
Canada

Europe

United Kingdom
Germany
Russia
France
Italy
Spain
Ukraine
Rest of Europe

Asia Pacific

China
Japan
Rest of Asia Pacific

Latin America (LATAM)

Brazil
Mexico
Rest of Latin America

Middle East and Africa (MEA)

GCC
Rest of MEA 

Justification for study?

  • The intention of the study is to give a comprehensive outlook of the global favipiravir market
  • The overall segmentation of the favipiravir market, by treatment, distribution channel, and geography is minutely studied. Influenza and hospital pharmacy are dominating the treatment and distribution channel segments respectively
  • Significant increase in influenza infection worldwide primarily drives the favipiravir market growth
  • Promising clinical trials results pertaining to the therapeutic efficacy and safety of favipiravir in the treatment of COVID-19 will further accentuate the market growth

Report gist?

  • The study of the global favipiravir market includes qualitative analysis of factors such as drivers, restraints, and opportunities
  • The report covers qualitative and quantitative analysis of the overall market segmented on the basis of treatment and distribution channel and categorization of the same at the geography level
  • This research report presents the analysis of each segment from 2017 to 2027 in which 2019 is considered as the base year. Compounded annual growth rate is calculated for the respective segments from 2020 to 2027
  • The study includes the profiles of major market players with a significant global and regional presence along with top company positioning

Significant customers?

  • This study is suitable for industry participants and stakeholders in the biopharmaceutical companies engaged in the manufacturing of favipiravir in the treatment of RNA virus infections such as influenza, ebola, etc.
  • The report will benefit researchers engaged in the clinical trial investigation of favipiravir in the treatment of COVID-19
  • Managers with financial institutions looking to publish recent and forecasted statistics pertaining to favipiravir market
  • Financial institutions venture capitalist, analysts, investors, government organizations, policymakers, regulatory authorities, researchers, looking for insights into the market to determine future strategies

Segment Analysis

Influenza is reigning the treatment segment for the favipiravir market. According to the latest research citings presented by the World Health Organization (WHO), influenza affects approximately 5 to 10% of the global population. In countries having temperate climates influenza, viral infection is at its peak during the winter season, the majority of cases are influenza B, viral infection. Tropical climate supports the spread of influenza A viral infection. Poor vaccination programs and lack of self-hygiene are the primary factors for the repeated occurrence of influenza infection in the developing countries. Ebola is a viral infectious disease which affects humans and non-human primates, the four species which are known for its infections in humans are Sudan, Zaire, Bundibugyo and Taï of which the Zaire species is the most lethal. The fatality rate associate with ebola is 70% and a single patient has the capacity to infect 1.5-2.5 people. Currently the whole world is suffering from COVID-19 infection, China being the epicenter, large fatality rate, and lack of vaccine increases the demand for favipiravir as a promising drug for the treatment of COVID-19 infection in the near future.

Hospital pharmacy is dominating the distribution channel segment for the favipiravir market. Favipiravir is a potent antiviral drug showing therapeutic efficacy against RNA viral infections hence accurate dose compounding needs to be done by the hospital pharmacist in order to prevent the occurrence of potential toxicity and side effects associated with the drug. The retail pharmacy will be gaining strong market growth during the forecast period on account of the rising prevalence of viral infection and the ability to cater to the medicinal requirement of patients residing in remote locations.

Asia Pacific is the clear leader in the geography segment for the favipiravir market. The major contributing factor responsible for its market dominance is the rising incidence of influenza A. viral infection in South East Asian region. The tropical climate, high humidity, and monsoon climate are the favorable breeding grounds for seasonal influenza in the Asia Pacific infecting patients across all age groups. Furthermore the presence of key players such as Fujifilm Toyama Chemical Co., Ltd, Zhejiang Hisun Pharmaceutical Co., Ltd., Cipla Limited, Beximco Pharmaceuticals Limited, etc further accentuate the market growth in the region. Europe is in the Northern Hemisphere with a cool temperate climate which is teeming grounds for the rampant spread of influenza B. viral infection during the autumn season. Central Africa has the most reported cases of Ebola infection in the world which increases the demand for the favipiravir market in the region. North America will be the fastest-growing segment during the forecast period on account of the rising incidence of seasonal influenza infection and the constant rise in the number of people suffering from COVID-19 infection.

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