The global favipiravir market is anticipated to grow at a CAGR of 4.1% during the forecast period. Favipiravir is a broad-spectrum antiviral that has shown promise in the treatment of influenza virus infections, Ebola, COVID-19, and others. With the surging prevalence of such diseases, the demand for favipiravir is also growing at an alarming rate, thereby driving the market growth. As per the Centers for Disease Control and Prevention estimates, there were 9 million – 41 million illnesses, 140,000 – 710,000 hospitalizations, and 12,000 – 52,000 mortality reported in 2020 due to influenza virus infections. Furthermore, the usage of favipiravir drugs in the treatment of COVID-19 is also expected to create new growth opportunities. However, clinical trials are going on in the US, Italy, and Japan and as of now, it is believed that the drug could come out as a potential treatment for COVID-19. As favipiravir possesses high utility for treating patients with COVID-19. For instance, in May 2020, the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and the ChemRar Group announced the start of the final stage of the multicenter randomized open comparative clinical trial of the drug Favipiravir on patients hospitalized with a COVID-19.
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Apart from these, favipiravir is also considered an effective drug for Ebola. This anti-viral medication works by inhibiting the viral RNA polymerase in the replication of virus infection within infected cells. The use of favipiravir has resulted in fewer deaths due to this disease when compared with earlier times. In addition, the other factors that are also contributing effectively to the growth of the market include the growing demand for biological drugs and increasing R&D investments for novel drug development.
Favipiravir Market- Segmentation
By Application
- Influenza A&B
- Ebola
- COVID-19
- Others
By Distribution Channel
- Hospitals & Clinics
- Drug Stores/Pharmacies
- Online
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Favipiravir Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Beacon Pharmaceuticals. Ltd.
- ChemRar Group
- Ltd.
- Reddy’s Laboratories. Ltd.
- Fujifilm Toyoma Chemicals Co. Ltd.
- Glenmark Pharmaceuticals. Ltd.
- R-Pharma
- Sun Pharmaceutical Industries. Ltd.
- Zhejiang Hisun Pharmaceutical Co. Ltd
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