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What Will Be the Growth Trajectory of the COVID-19 Drug Associated APIs Market from 2024 to 2033?

The market size of APIs related to COVID-19 drugs has seen robust growth in recent times. A growth from $6.37 billion in 2023 to $6.75 billion in 2024 is predicted, indicating a compound annual growth rate (CAGR) of 5.9%. The historical growth pace can be associated with increased incidences of COVID-19, heightened awareness regarding treatment possibilities, broader access to drugs for COVID-19, escalating demand for prophylactic COVID-19 drugs, government-led initiatives, and supply chain robustness.

The market size for APIs related to Covid-19 drugs is predicted to experience substantial growth in the upcoming years, reaching a valuation of $8.52 billion in 2028 with a CAGR of 6.0%. The projected expansion in the given period can be credited to the emergence of new Covid-19 drug modalities, an increase in clinical trials for such drugs, a surge in demand for Covid-19 vaccines, the rise of new variants, vaccination campaigns and preparations for potential future pandemics. Key trends anticipated to dominate the forecast period encompass personalized API production, the expansion of API sources, advancements in manufacturing technologies, the rise of digitalization and data analytics, as well as a focus on sustainability and the adoption of greener chemistry practices.

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What Are the Primary Growth Drivers for the covid-19 drug associated apis Market?

The need for antiretrovirals, antimalarials, sedatives, bronchodilators, and other respiratory medications is driving the market for active pharmaceutical ingredients (APIs) used in creating COVID-19 drugs. APIs are the crucial biological constituents used to manufacture pharmaceutical drugs. Two prevalent antiviral drugs currently in use for the treatment of COVID-19 patients are Remdesivir and Favipiravir. The use of Remdesivir is sanctioned on an emergency basis in nations like the USA and Japan for handling COVID-19 patients. The FDA has given its approval for Airsupra (albuterol and budesonide) inhalation aerosol to be used as required for treatment or prevention of bronchoconstriction and to minimize the chance of asthma attacks in patients aged 18 or over. Favoripiravir, a treatment for influenza in Japan, has also demonstrated beneficial results in treating COVID-19 patients. With COVID-19 being a respiratory disorder, the need for bronchodilators has seen a marked increase. Thus, the rising demand for antivirals, antimalarials, and bronchodilators is predicted to propel the market for the APIs associated with COVID-19 drugs in the forecasted period.

What Are the Defining Segments of the COVID-19 Drug Associated APIs Market?

1) By Drug Class: Antimalarials, Bronchodilators, Antibiotics, Antivirals, Other Drug Class

2) By Synthesis Type: Synthetic, Biotech

3) By Business Mode: Captive API, Merchant API

What Trends Are Revolutionizing Standards in the COVID-19 Drug Associated APIs Market?

Major players in the pharmaceutical sector responsible for the production of APIs related to COVID-19 drugs are honing in on strategies such as scaling up plant or production capacity to accommodate the escalating demand spurred by the global increase in coronavirus cases. Take for example, Merck & Co., Inc., a pharmaceutical firm based in the US, who in October 2023 entered a strategic partnership with India’s Heavy Water Board in an effort to penetrate the $100 million deuterated raw compound industry, which has the potential to surge up to $1 billion within the forthcoming five to ten years. Merck’s objective is to contribute to the growth of India’s pharmaceutical, chemical, and technical sectors by providing top-quality compounds essential in the creation of medicines, semiconductors, OLEDs, and electronic devices. Currently, Avigan is undergoing clinical trials to evaluate its safety and efficiency in treating COVID-19 cases.

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What Regions Are Propelling Growth in the COVID-19 Drug Associated APIs Industry?

North America was the largest region in the COVID-19 drug-associated APIs market in 2023. Middle East is expected to be the fastest growing region in the global COVID-19 drug associated apis market share during the forecast period. The regions covered in the covid-19 drug associated apis market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The COVID-19 Drug Associated APIs Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the covid-19 drug associated apis market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The COVID-19 Drug Associated APIs Market Include

1. COVID-19 Drug Associated APIs Market Executive Summary

2. COVID-19 Drug Associated APIs Market Segments

3. COVID-19 Drug Associated APIs Market Size And Template Market Growth Rate

4. Key COVID-19 Drug Associated APIs Market Trends

5. Major COVID-19 Drug Associated APIs Market Drivers

……

25. Key Mergers And Acquisitions In The COVID-19 Drug Associated APIs Market

26. Top COVID-19 Drug Associated APIs Companies

27. COVID-19 Drug Associated APIs Market Opportunities And Strategies

28. COVID-19 Drug Associated APIs Market, Conclusions And Recommendations

29. Appendix

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