The global severe acute respiratory syndrome (SARS) treatment market size was valued at USD 25.7 billion in 2021 and is projected to reach around USD 8.2 billion in 2030 exhibiting a CAGR of 14.5% in the forecasted period. The rising cases of COVID-19, increase in the number of numerous contagious diseases caused by coronavirus are some of the key factors anticipated to drive the market. Additionally, fast expansion of the elderly population together with favourable government policies and initiatives for confirming cautionary treatments is projected to drive expansion of the global severe acute respiratory syndrome treatment market in the upcoming years. On the other hand, unavailability of medications during the pandemic and higher prices than actual cost for the treatment are anticipated to hinder the growth of severe acute respiratory syndrome (SARS) treatment market growth.
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Growing cases of COVID-19 across the world is anticipated to boost the growth of the severe acute respiratory syndrome (SARS) treatment market throughout the forecasted period. For example, as per the World Health Organization (WHO), worldwide, till 2 November 2021, there have been 246,951,274 definite cases of COVID-19, with 5,004,855 deaths.
Moreover, development of new drugs and vaccines and growing drug approvals for the treatment of both SARS and COVID-19 is projected to increase the growth of the severe acute respiratory syndrome (SARS) treatment market. For example, in October 2020, the U.S. Food and Drug Administration (FDA) permitted the antiviral drug Veklury (Remdesivir) for the use in adult and paediatric patients for the treatment of COVID-19. Veklury is the first treatment for COVID-19 to get FDA approval.
The eruption of COVID-19 was initially noticed in a seafood market in Wuhan, China in mid- December 2019, has now extended to 215 nations worldwide. Most people infected with COVID-19 experience mild to moderate respiratory illness and recover without management, whereas some become extremely ill and need medical care. The fast pace of the coronavirus disease produced many research efforts to be introduced rapidly. China has more than 80 consecutively or pending clinical trials on possible treatments for COVID-19. Furthermore, the governments about the world are aiming on vaccination to inhibit the spread of the virus. As per the WHO, as of 1 November 2021, a total of 6,893,866,617 vaccine doses have been managed globally. This is predicted to propel the market growth.
Drug Class Insights
Based on drug class, the market is bifurcated into antiviral, antibacterial, and immunomodulators drugs. The biggest market share was held by the antibacterial category throughout the forecasted period. The factors can be ascribed to the high use of the product. However, the demand for the antibacterial drugs reduced during COVID, as they are not much effective for the diseases.
Antiviral drugs like remdesivir and favipiravir, are the initial treatments for the SARS-CoV-2. Although, antibacterial drugs were recommended in some COVID cases where a secondary bacterial infection occurs.
Distribution Channel Insights
Based on distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment is projected to hold the most significant CAGR in the forecasted period owing to the increasing hospitalization of COVID patients that needed treatment with antiviral medicines.
Moreover, the hospital pharmacies play a crucial role in the patient insurance for proper medications, dosages, and administration methods. Thus, patients prefer getting medicines from hospital pharmacies and in addition to that hospital pharmacies offer deductions on several medications that boost the market growth.
Region Insights
North America is projected to appear as one of the important regions in the global severe acute respiratory syndrome treatment market during the period of forecast. Such rule of the region is due to the existence of the well-developed infrastructure in the healthcare segment. Moreover, higher government funding for the purpose of inhibition of infectious diseases is estimated to add to the growth of the market in North America.
Asia Pacific is likely to show lucrative growth during the forecasted period, due to higher production of drugs for COVID-19 treatment by market companies to fight the pandemic. In May 2020, nearly 70 metric tons of hydroxychloroquine was made in India by Zydus Cadila and Ipca laboratories, and shipped to neighbouring countries beside with the U.S. Zydus Cadila and Ipca Labs are global pharmaceutical corporations that manufacture generic drugs and active pharmaceutical ingredients, respectively.
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Key Companies Insights
The market for Severe acute respiratory syndrome (SARS) treatment is moderately competitive. With the rising applications of Severe acute respiratory syndrome (SARS) treatment, new players are considering to enter the market. The companies are also involved in events like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Severe acute respiratory syndrome (SARS) treatment market, ultimately boosting the market growth. Some of the key companies working in the global Severe acute respiratory syndrome (SARS) treatment market include:
• AstraZeneca Plc.
• Eli Lily & Company
• Boehringer Ingelheim
• Johnson & Johnson
• Ipca laboratories
• Takeda Ltd.
• AbbVie
• Roche Holding AG
• Pfizer Inc.
• Novartis
• GlaxoSmithKline plc.
• Cadila healthcare Ltd.
• Cipla Ltd.
• Hetero labs Ltd.
• Gilead Sciences Inc.
• Other players
Some of the Recent Developments:
• In September 2021, Pfizer Inc. and Merck & Co Inc. declared new trials of their investigational oral antiviral drugs to treat COVID-19; as the race to improve an easy-to-administer treatment for the possibly fatal disorder heats up.
• In March 2020, WHO developed a multiarm, multi-country clinical trial for possible coronavirus treatments, part of an aggressive effort to start-up the global search for medications to treat COVID-19.
• In March 2020, CEL-SCI Corporation developed the immunotherapy for the treatment of Covid-19 coronavirus using its LEAPS peptide technology.
Segments
By Drug Type
• Antiviral
• Antibacterial
• Immunomodulators Drugs
By Route Of Administration
• Oral
• Injectable
By Distribution Channel
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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Key Questions Answered in the Report:
- What will be the development pace of market? What is the growth rate of the global market?
- Who are the key manufacturers in the market space? Who are the world’s leading manufacturers?
- What are sales, revenue, and price analysis of the top manufacturers of market?
- Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
- What are the market opportunities and threats faced by the vendors in the industries?
- What are deals, incomes, and value examinations by types and applications of the market?
- What are the primary factors driving market?
- What are the market’s advantages, disadvantages, and risks, as well as an overview of the market?
- Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
- Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?
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