How is the Sotrovimab Or Xevudy Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the sotrovimab or xevudy market?
Over recent years, the sotrovimab or xevudy market has witnessed a HCAGR of XX. The market is projected to expand from $XX million in 2024 to $XX million in 2025 at a Compound Annual Growth Rate (CAGR) of XX%. This growth observed in the historic period is primarily due to the escalating prevalence of COVID-19, heightened demand for efficacious monoclonal antibody treatments, increased awareness around caring for high-risk patients, augmented government funding, as well as a surge in partnerships among pharmaceutical companies.
What will be the sotrovimab or xevudy market size in the future?
The market size for sotrovimab or xevudy is projected to experience a forward compound annual growth rate (FCAGR) of XX% in the following few years, leading it to reach a value of $XX million by 2029. This anticipated economic expansion over the forecast period is likely due to factors like the emergence of new COVID-19 variants, an increased emphasis on monoclonal antibody therapies, enhanced access to healthcare in developing regions, a rise in government support for pandemic readiness, and the expansion of telehealth services for treatment provision. Key trends for the forecast period encompass advancements in vaccine manufacturing technologies, innovative formulations, telehealth integration, improvements in antibody production technologies, and progress in antibody engineering.
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What main drivers are fueling expansion in the sotrovimab or xevudy market?
The increase in COVID-19 cases is anticipated to stimulate the expansion of the sotrovimab or xevudy market. The disease, triggered by the SARS-CoV-2 virus, propagates through respiratory droplets, causing reactions from mild fever to severe respiratory issues. Its proliferation can be restrained through vaccines and proper hygiene. Elements like new strains, lessened immunity, relaxed restrictions, seasonal indoor gatherings, and unequal vaccine distribution, are causing the rise of COVID-19. The drug sotrovimab is used in treating high-risk COVID-19 patients by deactivating the virus early which prevents severe conditions such as hospitalization or death. For instance, a report by the Office for National Statistics, a UK-based official statistics department, revealed in March 2023 that about 1.9 million individuals in the UK (making up 2.9% of the population) had been diagnosed with COVID. Majority of these patients, around 92%, contracted COVID-19 more than 12 weeks prior. Close to 69% had been coping with symptoms for over a year, with 41% battling them for more than two years. Thus, the escalating prevalence of COVID cases is set to propel the sotrovimab or xevudy market’s growth.
What key areas define the segmentation of the global sotrovimab or xevudy market?
The sotrovimab or xevudy market covered in this report is segmented –
1) By Indication: COVID-19 Early Treatment; Post-Exposure Prophylaxis
2) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
3) By End User: Pediatric; Adult; Geriatric
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Who are the dominant players expanding their reach in the sotrovimab or xevudy market?
Major companies operating in the sotrovimab or xevudy market are GSK plc; Vir Biotechnology Inc.
How are evolving market trends shaping sotrovimab or xevudy Strategies?
The main trend evident in the sotrovimab, also known as xevudy, market is the focus on targeted investments to advance research and development, scale up production abilities, and enhance the drug’s accessibility. These alliances play a key role in speeding up distribution and guaranteeing wider availability, particularly in areas of high demand. For instance, in January 2022, GSK plc, a British pharmaceutical firm, forged a partnership with Vir Biotechnology Inc., a biotech company based in the US. This resulted in a significant agreement with the US government for procuring additional sotrovimab supplies, an approved monoclonal antibody for early COVID-19 treatment. The deal underscores the continuous necessity for effective treatments as the pandemic persists. Sotrovimab is particularly purposed for adults and teens at high risk of developing severe COVID-19 and proves to be a crucial treatment alternative for those not needing oxygen supplement. The agreement manifests GSK and Vir’s wider strategy to keep sotrovimab accessible despite the arrival of new virus strains.
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Which regions are emerging as leaders in the sotrovimab or xevudy market?
North America was the largest region in the sotrovimab or xevudy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sotrovimab or xevudy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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