Global Favipiravir Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global favipiravirmarket is anticipated to grow at a significant CAGR of 4.1% during the forecast period (2022-2028). Favipiravir is a pyrazine carboxamide derivative that acts as an antiviral, which interrupts the viral replication process, preventing the virus from replicating inside the host. The favipiravir market is being driven by the rising prevalence of influenza and Ebola, among other diseases. Furthermore, the usage of this drug in the treatment of COVID-19is also expected to drive market growth.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In May 2021, under the brand name ‘Favijaj,’ Bajaj Healthcare Ltd.(BHL) launched antiviral favipiravir pills. Favipiravir is an antiviral medicine that has been found to be successful in treating COVID-19 patients. It is typically used to treat individuals who are infected with the influenza virus. India’s medicines regulator had approved Favijaj to manufacture and sell in the country for the treatment of COVID-19.
• In May 2021, Bal Pharma announced the availability of Favipiravir, an antiviral medicine, in the local market under the brand name BALflu for the treatment of COVID-19. Favipiravir slows and terminates viral protein synthesis and promotes deadly influenza virus metagenesis in people with mild to moderate COVID-19 infection. BALflu is a broad-spectrum influenza vaccine that can treat 53 different influenza viruses, including seasonal strains such asebola, arenavirus, bunyavirus, filovirus, WestNile virus, and Lassa virus.
• In August 2020, Avigan (Favipiravir) 200 mg tablets launched in India by Dr. Reddy’s Laboratories Ltd. The introduction is part of a global license deal with Fujifilm Toyama Chemical Co. Ltd., which gives the Indian pharmaceutical company the rights to produce, market, and distribute the tablets in India. Avigan has been licensed by the Drugs Controller General of India (DCGI) for the treatment of patients with mild to moderate COVID-19 infection.

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-Fujifilm Toyoma Chemicals Co. Ltd., Cipla Ltd., Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals Ltd., and Dr. Reddy’s Laboratories Ltd.,among others.

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?

Global Favipiravir Market Report by Segment

By Application

• Influenza A&B
• Ebola
• COVID-19
• Others

By Distribution Channel

• Hospitals & Clinics
• Drug Stores/Pharmacies
• Online