The high transmission rate of coronavirus that lead to rapid increase in COVID-19 cases and deaths world-wide triggered the rapid growth in diagnostic and treatment needs. As of 15th May 2020, there existed 4,347,935 confirmed cases and 297,241 deaths due to coronavirus which was declared a pandemic by WHO on March 11, 2020.
Government initiatives supporting rapid development of therapies
To deal with the pandemic, governments across the globe have implemented lockdown or restrictions on movement of people and invested in COVID-19 crisis as well as have been supporting health and life sciences industries in rapid treatment development. Many governments have set up committees that aid in rapid review of therapies being investigated by medical researchers and firms. For instance, FDA announced an accelerated Emergency Use Authorization (EUA) pathway for accelerating emergency use of therapies which could be possible treatment for COVID-19. Several pharmaceutical, biopharmaceutical and biotechnology firms have been granted EUA approval which support further clinical studies on the therapy / candidate being investigated.
Lack of knowledge about novel coronavirus challenging effective treatment development
Key challenges impacting the success rate for therapy development are lack of information on the virus such as biological, genetic information, duration of immunity granted in recovered patients, among others, which is vital to develop a safe & effective treatment option. In future, industry is expecting to face challenges related to production capacity & distribution. Thus, while vaccine development is on-going, manufacturers are also focusing on increasing production capacities.
![COVID 19 Diagnostics and Therapy Market COVID 19 Diagnostics and Therapy Market](https://www.meticulousresearch.com/public/website_images/COVID-19-Diagnostics-and-Therapy-Market.webp)
Click here to: Get Free Sample Pages of this Report
Key Findings in the COVID-19 Industry Impact Assessment Report:
PCR-testing, Vaccines, and Antiviral are the most explored diagnosis and treatment options for COVID-19
PCR based test is most commonly used in screening patients for COVID-19 primarily due to its effectiveness in early detection which is most critical need for healthcare systems dealing with the rapidly spreading disease. While PCR is effective, it is time-consuming and labor intensive as compared to antibody test which is more suitable for testing presence of antibodies, making it suitable for later stage in the infection cycle. Currently, there are no proven treatments for COVID-19 and potential treatments are underway. Vaccines and antivirals are two of the most explored therapies due to their extensive history in fighting infectious diseases.
U.S., U.K. – the most affected nations as well as at forefront in terms of research and development for COVID-19
The U.S. and the U.K. are among the most affected nations due to COVID-19. As of 15th May 2020, there existed 1,484,285 and 236,711 confirmed COVID-19 cases in the U.S. and the U.K., respectively (Source: WHO). While the countries are dealing with economic impact of the pandemic, they are also largely involved in research and development efforts for COVID-19 treatment. The government have been providing support to accelerate processes for rapid therapy development as well as monetary support to researches. For instance, in the U.S., the Biomedical Advanced Research and Development Authority (BARDA), a federal agency that funds disease-fighting technology, has stated an investment of nearly USD 1 billion to support coronavirus vaccine development. Similarly, the U.K.’s National Health Services (NHS) announced GBP 24.6 million funding as part of rapid research responses.
![COVID-19 Diagnostics and Therapy Market COVID-19 Diagnostics and Therapy Market](https://www.meticulousresearch.com/public/website_images/COVID-19-Diagnostics-and-Therapy-Market.webp)
Click here to: Get Free Request Sample Copy of this Report
Key Players
Some of the key players involved in the COVID-19 product development include Roche Holding AG (Switzerland), Thermo Fisher Scientific, Inc. (U.S.), Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), AbbVie Corporation (U.S.), Gilead Sciences, Inc. (U.S.), Eli Lilly and Company (U.S.), Moderna, Inc. (U.S.), Novavax, Inc. (U.S.), Medicago, Inc. (U.S.), Inovio Pharmaceuticals, Inc. (U.S.), GlaxoSmithKline (U.K.), Sanofi S.A. (France), Johnson & Johnson (U.S.), Sorrento Therapeutics, Inc. (U.S.), AstraZeneca Plc (U.K.), Pfizer, Inc. (U.S.), CTI Biopharma Corporation (U.S.), OncoImmune, Inc. (U.S.), Athersys, Inc. (U.S.), Celularity, Inc. (U.S.), Pluristem Therapeutics (Israel), Takeda Pharmaceuticals Company Ltd (Japan), among others.
Scope of the Report:
COVID-19 Product Pipeline
- Diagnosis
- PCR Testing
- Antibody Testing
- Treatment
- Vaccines
- Immunotherapy
- Antiviral
- Cell-based Therapy
- Other Therapies
COVID-19: Impact on Healthcare Industry
- Diagnostics
- Rapid Test Kits
- PCR / Rapid Antigen Testing / Nucleic Acid-Based Tests
- Advantages Offered by PCR Testing in COVID -19 Diagnosis
- Restraints
- Key Companies
- Antibody Testing / Serological Testing
- Advantages Over Molecular Tests
- Use of Antibody Testing for Herd Immunity Analysis and Easing Lock-Down
- Restraints
- Key Companies
- Therapies
- Vaccines
- Immunotherapies (Antibodies)
- Monoclonal Antibody
- T-Cell Therapy
- Potential Game Changers: Antibodies
- Ilaris (Canakinumab)
- Sylvant (Siltuximab)
- Lenzilumab
- Ultomiris (Ravulizumab-Cwvz)
- Tocilizumab
- Anti-Virals
- Potential Game Changers
- Chloroquine and Hydroxychloroquine (HCQ)
- Remdesivir
- Cell-Based Therapies
- Other Therapies
COVID-19 Industry Impact Assessment, by Geography
- North America
- Europe
- Asia-Pacific (APAC)
- Rest of the World (RoW)
Key Questions Answered: