Coronavirus Infection Market: Competitive Strategies And Forecasts to 2024
Global Coronavirus Infection Market: Outline
Coronavirus is the type of virus that belongs to either of the two subfamilies, Coronavirinae or Torovirinae and it generally affects the respiratory tract of mammals. Coronavirus is thus called as it has a crown-like appearance and in Latin, the word ‘corona’ means crown. Human coronaviruses (HCoV) were discovered in the 1960s from the naval cavities of patients affected with common cold. These viruses cause a range of serious infections in humans from common cold to severe respiratory problems. Coronavirus is spread through droplets, i.e., by coughing or sneezing and there is a limited possibility that this large family of virus can also be spread by close contacts with an ability to pass from person to person. Sore throat, coughing, fever, respiratory infection and difficulty in breathing are some of the most common symptoms of coronavirus infection.
Global Coronavirus Infection Market: Key Categories
Based on the infections caused by coronavirus infection, the market can be segmented as follows:
- HCoV-229E: causes common cold, pneumonia, and bronchiolitis
- HCoV-OC43: causes respiratory tract infection and pneumonia in infants
- SARS-CoV: causes severe acute respiratory syndrome (SARS)
- New Haven CoV: causes Kawasaki disease, aneurysmsof the coronary arteries
- HKU1-CoV: causes acute respiratory distress and bilateral pneumonia
- MERS-CoV (Middle East respiratory syndrome coronavirus): causes bronchial infections
There are few coronavirus vaccines available in the market such as inactivated coronavirus vaccine, live attenuated coronavirus vaccine and S-Protein based coronavirus vaccine. Various precautions and therapeutic drugs can also be taken to prevent or minimize the effect of this fatal infection. Some of the precautions are as follows:
- Standard precaution: hand hygiene, eye protection, disinfection of equipments etc.
- Droplet precaution: Use of medical mask and restricted patient movement
- Airborne precaution: Use of PPE (personal protective equipment), gloves etc.
Global Coronavirus Infection Market: Trends and Opportunities
Major driving factors for the growth of coronary infection market are increase in the rate of communicable diseases, disposable income in emerging countries, increasing number of hospitals, and rising health hygiene of individuals across geographies. Technological advancement and innovation about respiratory infection treatment has also triggered the growth of the coronary infection market. On the other hand, huge amount of capital involved in the market would most likely impede the growth of this market.
Global Coronavirus Infection Market: Regional Outlook
Geographically, North America holds a leading position in the coronary infection market followed by Europe. The prime driving factors for the growth of this market in these regions are increasing awareness among people regarding infectious viruses such as SARS-CoV, shift to sophisticated treatment tools, and constantly increasing segment of the population who acquire coronavirus infection. According to the World Health Organization (WHO), around 1.1 million people in the United States were hospitalized with pneumonia and 50,000 people died from this disease. Asia-Pacific is one of the fastest growing regions and is the most lucrative market as this region is expected to show a rapid growth in the near future. Major factors that will boost the growth of the coronavirus infection market in Asia-Pacific are high population density in countries like China and India where there is high prevalence of contagious diseases, improved healthcare infrastructure, and demand for novel drug therapeutics related to coronavirus infected diseases.
Global Coronavirus Infection Market: Companies Covered under the Report
Some of the top major players operating in the coronavirus market are Inovio Pharmaceuticals, Inc., Novavax, Inc., Protein Potential, LLC, AlphaVax, Inc., Synairgen plc, NanoViricides, Inc., GGeneCure, LLC and many others.
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