The global demand for Favipiravir Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Kiloton in 2021 and forecast to touch XX Kiloton by 2028 with a CAGR of XX% during 2022-2028.
Favipiravir is an oral antiviral drug initially approved for the treatment of influenza in Japan. But now has garnered much attention for COVID-19 treatment. Favipiravir shows potent in vitro activity against severe acute respiratory syndrome. It induces a rapid mutation rate of the virus RNA polymerase complex, which results in a large proportion of nonviable viruses within the total virus population. Favipiravir is sold under the brand names Avigan, Avifavir, Areplivir, FabiFlu, and Favipira, FAVENZA, FAVICOVID, among others.
Market Dynamics
The global favipiravir market is projected to grow exponentially in the coming years, attributed to rapidly expanding cases of COVID-19 worldwide. The coronavirus COVID-19 is affecting 220 countries and territories. As of 11 May 2021, 160,343,538 individuals are diagnosed with COVID-19, and the figure is still on the increase. Favipiravir is approved by Russia, India, China, Japan, Middle East for COVID-19 treatment. Rising approvals by countries for treatment and a growing number of grants to companies to manufacture favipiravir are projected to create market opportunities. Favipiravir has shown rapid viral clearance and faster clinical improvement. Various treatment recommendations include favipiravir for COVID-19 treatment. Several on-going clinical trials will further substantiate the favipiravir role. However, some countries' shortage of raw materials, trade barriers, and disapproval are factors restraining demand for Favipiravir.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of favipiravir. The growth and trends of Favipiravir Industry provide a holistic approach to this study.
Market Segmentation
This section of the favipiravir market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
By Application
- Influenza Viruses
- COVID-19
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Favipiravir market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Favipiravir Market Share by Region (Representative Graph)
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The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the favipiravir market include ChemRar Group, Glenmark, Fujifilm, Dr. Reddy, R-Pharma, Cipla, Lupin, Sun Pharma, Hisun Pharm. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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