June 23, 2020
As per the report titled ‘Global Arbidol Hydrochloride Market Size study with COVID-19 Impact, by Product (Arbidol Hydrochloride Tablets, Arbidol Hydrochloride Capsules, Arbidol Hydrochloride Granules) By Application (Anti Influenza Virus, COVID-19) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global arbidol hydrochloride market is expected to record a healthy growth rate through 2026.
Global arbidol hydrochloride market is primarily driven by the spread of new viruses across the globe. Arbidol hydrochloride is a powerful broad-spectrum antiviral drug originally developed in Russia, which is used against enveloped and non-enveloped viruses. Widespread use of this drug across Russia and China for treating globally prevalent diseases such influenza A&B and hepatitis C has led to a sustained demand for arbidol hydrochloride.
Furthermore, the COVID-19 pandemic has bolstered the demand for arbidol hydrochloride. According to Worldometers, as of 2nd May 2020, total number of coronavirus cases was 3.4 million while the death toll from the virus reached 239,000. The spread of the virus has compelled a race for developing an effective treatment and vaccine, leading to a substantial increase in clinical trials which involve the use of arbidol hydrochloride for treatment. In February 2020, National Health Commission of China declared lopinavir-ritonavir and arbidol vital for treating COVID-19 infections backed by in-vitro cell tests and previous clinical trials data from SARS and MERS, thereby boosting the product of arbidol hydrochloride.
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In fact, Shijiazhuang Pharmaceutical Group has donated 50,000 boxes of arbidol tablets to the medical staff in Wuhan since mid-January. The company has a production capacity of 900,000 arbidol hydrochloride capsules per day, which is twice the normal production volume. Moreover, Hyderabad-based Indian Institute of Chemical Technology (IICT) has devised convenient and cost-efficient synthetic process for manufacturing antiviral drug Favipiravir. The institute is working on the production of other drugs, particularly Arbidol and Triazavarin for battling the pandemic. Hence, increasing number of clinical trials coupled with ongoing development of drugs for treating coronavirus infection will foster the industry growth over the forecast period. However, unsuccessful clinical trials are negatively impacting the arbidol hydrochloride market outlook.
As per the regional analysis, North America arbidol hydrochloride market is poised to see substantial growth over the study timeframe, attributable to increasing geriatric population, alongside promptness & affordability of urgent care services in line with a well-established healthcare infrastructure.
Asia Pacific arbidol hydrochloride market is slated to expand rapidly in the coming years, on account of factors such as rising disposable income, increasing cases of injuries and developed healthcare infrastructure.
Key organizations in global arbidol hydrochloride market are Shijiazhuang Pharmaceutical Group, Shenyang Coupling Biomedical Technology Co., Ltd., Yichang Tianren Pharmaceutical Co., Ltd., Shandong Chuangxin Pharmaceutical Research and Development Co., Ltd. and JSC Pharmstandard.