Favipiravir is an anti-viral medication, which is a pyrazine carboxamide derivative. Chemically, 6-fluoro-3hydroxy-2-pyrazine carboxamide is an anti-viral agent, which selectively and potentially inhibits the activity of RNA dependent RNA polymerase enzyme in the virus. This prevents the viral replication process and hence, the virus is unable to replicate inside the host. The drug is sold under the trade name of Avigan and was originally developed by the Japanese company Fujifilm Toyoma Chemicals Co. Ltd., for the treatment of influenza.
Asia Pacific favipiravir market is expected to grow at an impressive rate during the forecast period. The Asia Pacific favipiravir market is driven by the extensive use of this drug in the treatment of COVID-19 disease as it has similar mechanism of action against the COVID-19 virus it has against the influenza virus. The drug inhibits the activity of RNA polymerase and COVID-19 is unable to replicate. At present, there is no drug found at for the treatment of novel coronavirus and it has been identified that favipiravir is helpful in its treatment. The drug is being extensively used in China and Japan in the Asia Pacific region for treatment of COVID-19. A study was conducted in China on 80 people to study the effect of the drug. There was also a control group which was administered lopinavir/ritonavir, the HIV inhibiting drugs which are also being recognized as a potential treatment for novel coronavirus disease. It was observed that viral clearance time was reduced in people who were given Favipiravir and 91% of them had witnessed improved CT scans. Another study conducted in Wuhan illustrated that the drug is effective in shortening the fever duration from an average of 4.2 days to 2.5 days. One more such study was conducted in China wherein 340 COVID-19 infected patients were administered with favipiravir, where they recovered quickly and showed greater lung improvement with no obvious side effects. After such evidence from various studies, China approved the use of favipiravir for the treatment of COVID-19 disease. After this, in March 2021, Italy also started the use of this drug for treating novel coronavirus disease and has started clinical trials also. Additionally, the clinical trials are going on in the U.S., Italy and Japan and as of now it is believed that the drug could come out as a potential treatment for COVID-19. This is expected to positively influence the market growth during forecast period.
Major players operating in the Asia Pacific favipiravir market include Fujifilm Toyoma Chemicals Co. Ltd., Zhejiang Hisun Pharmaceuticals, Cipla Limited, Sun Pharmaceutical Industries Limited, Glenmark Pharmaceuticals Limited, Dr. Reddy's Laboratories Limited, Lupin Limited, Beacon Pharmaceuticals Limited and others. The companies are developing advanced technologies and launching new services in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022–2026
Objective of the Study
- To analyze and estimate the market size of Asia Pacific favipiravir market from 2016 to 2019.
- To estimate and forecast the market size of Asia Pacific favipiravir market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Asia Pacific favipiravir market based on type, distribution channel, application, company and regional distribution.
- To identify dominant region or segment in the Asia Pacific favipiravir market.
- To identify drivers and challenges for Asia Pacific favipiravir market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Asia Pacific favipiravir market.
- To identify and analyze the profile of leading players operating in Asia Pacific favipiravir market.
- To identify key sustainable strategies adopted by market players in Asia Pacific favipiravir market.
Click here to download the sample
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the region. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the region.
TechSci Research calculated the market size of
Key Target Audience
- Favipiravir manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to favipiravir
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
