Severe Acute Respiratory Syndrome (SARS) is a viral respiratory disease produced by a SARS-related coronavirus. SARS was initially identified throughout the outbreak in China in late February 2003 and has spread to 4 other nations. In affected nations, the World Health Organization worked with health experts to provide epidemiological, clinical, and logistical support and to bring the outburst under control. Although, SARS?CoV?2, the new coronavirus, is the virus that causes COVID-19 (coronavirus disease), the respiratory illness answerable for the ongoing pandemic. Both SARS and COVID-19 are caused by SARS-associated coronaviruses. The infections occur in both animals and humans, and can lead to death. Consequently, there is a growing demand for severe acute respiratory syndrome (SARS) treatment, globally.
Growing cases of COVID-19 across the world is anticipated to boost the growth of the 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.
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The global demand for severe acute respiratory syndrome (SARS) treatment market was predicted to be about USD 11 billion in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 9 billion. The industry players and analysts predict the global Severe acute respiratory syndrome (SARS) treatment market growth of around 14.5% in terms of CAGR. During the upcoming years, 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.
Some of the leading and top severe acute respiratory syndrome (SARS) treatment companies 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. among others. The leading five players such as AstraZeneca Plc., Eli Lily & Company, Pfizer Inc., Novartis, GlaxoSmithKline plc hold about 50% market share of the global severe acute respiratory syndrome (SARS) treatment market.
On the basis of product, the global severe acute respiratory syndrome (SARS) treatment market can be segmented into antiviral, antibacterial, and immunomodulators drugs with the ‘antibacterial’ category having the leading market share of about 35 percent, closely followed by the “antiviral” category at about 25 percent of the global severe acute respiratory syndrome (SARS) treatment market share. On the basis of route of administration, the global severe acute respiratory syndrome (SARS) treatment market can be segmented into oral and injectable. On the basis of distribution channel, the global severe acute respiratory syndrome (SARS) treatment market can be segmented into retail pharmacies, hospital pharmacies, and online pharmacies. In terms of regional analysis, North America region detained the prominent market share of around 40% among other regions such as Asia Pacific, Europe, Latin America, and Middle East & Africa in the global severe acute respiratory syndrome (SARS) treatment market.
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