What is Coronavirus Market Scope?
Coronavirus is a large family virus which effects on various species of animal, and rarely on humans also. Then it spread in two forms such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS). For a human, it is a virus that caused severe acute respiratory syndrome, or SARS. It can spread person-to-person via respiratory droplets produced from the infected person cough and sneezes. There are no current vaccines or any treatment for the coronavirus. Currently, China is using AbbVie’s HIV drugs to coronavirus patients as an ad-hoc treatment. The company provides a combination of lopinavir and ritonavir under the brand name of Kaletra by AbbVie for the humans who are infected by the virus. The major affected geographic regions are China, The United States, Germany, Sri Lanka, France, Thailand, Japan, Nepal, Singapore, Vietnam, Macao, and South Korea. There are various studies are going on this virus, WHO and other study pointed bats and snakes as the possible culprits behind the virus in China. Currently, it is increasing the United States, these cases reached up to 65,000 plus ratio.
The Coronavirus market study is being classified by Type (Middle East Respiratory Syndrome (MERS) {MER-CoV} and Severe Acute Respiratory Syndrome (SARS) {SAR-CoV}), by Application (Hospitals, Research Laboratories and Clinics) and major geographies with country level break-up.
In this market, companies are completely focused on research and development to develop medicine or vaccine regarding this virus. As with the increasing effects of this virus at a rapid rate is forcing major players in the pharma industry majorly in the United States. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Coronavirus market throughout the predicted period.
Inovio Pharmaceuticals, Inc. (United States), Moderna Inc. (United States), Novavax Inc. (United States) and AbbVie Inc. (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Coronavirus market by Type, Application and Region.
On the basis of geography, the market of Coronavirus has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
In Jan 2020, Coalition for Epidemic Preparedness innovations revealed to offer USD 11 million of funding to these three companies to develop vaccines against the Wuhan strain. The three companies are Inovio Pharmaceuticals, Moderna, and Novavax. Apart from these the University of Queensland in Australia is also working on vaccines and get funding from the CEPI.
Influencing Market Trend
- high adoption of N95 masks and alcohol-based hand sanitizers from the protection of airborne particles and viruses. This leads to the increased production of N95 masks across the globe.
Market Drivers
- Increases Number of People in China Infected By the New Coronavirus Surpasses
- Rising Inclination of Human Being towards their Unhygienic Pets
Restraints
- Lack of Awareness among the People Regarding Coronavirus
- No Successful Trials for Coronavirus Vaccine
Challenges
- Required Initial Investment for Research and Development Activities
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors in Drugs, Coronavirus Drug Manufacturers, Drugs Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Customization available in this Study:
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