The global arbidol hydrochloride market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). Arbidol hydrochloride is the antiviral drug that is used for the treatment of influenza virus and coronavirus (COVID-19). The major factor attributing to the growth of the global arbidol hydrochloride market is the increasing cases of COVID-19 across the globe. According to the statistics published by the World Health Organization (WHO), around 483 million cases of COVID-19 are confirmed including the mortality of around 6.13 million people till the end March 2022. These numbers are further increasing consistently. Thus, increasing the demand for arbidol hydrochloride.
In addition, supportive government initiatives are also propelling the growth of the market. For instance, in March 2022, the Bureau of Internal Revenue (BIR) based on the Revenue Memorandum Circular No. 30-2022 of the USFDA released the name of 22 additional drugs which will be exempted from the 12% value-added tax (VAT). This list of additional drugs includes arbidol hydrochloride, beclomethasone, bivalirudin, enoxaparin, and many other drugs used for the treatment of six serious illnesses including COVID-19, cancer, diabetes, hypertension, high cholesterol, and mental illness.
Furthermore, the use of arbidol hydrochloride in the treatment of symptoms of influenza virus is also increasing. According to the Centers for Disease Control and Prevention (CDC), around 8% of the total population of the US gets affected by the influenza virus every season causing several symptoms including fever, cough, sore throat, headaches, fatigue, and many others. Thus, contributing to the growth of the global arbidol hydrochloride market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Pharmasyntez, Jiangsu Simcere Pharmaceutical Co. Ltd., CSPC Pharmaceutical Group Ltd., Novartis International AG,and Teva Pharmaceuticals Industries Ltd., among others.
A full report Arbidol Hydrochloride Market of is available at: https://orionmarketreports.com/arbidol-hydrochloride-market/104019/
Global Arbidol Hydrochloride Market Report by Segment
By Application
- Influenza Virus
- Coronavirus (COVID-19)
By Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Retail Drug Stores
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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