Pune, New York, USA, November 24 2020 (Wiredrelease) Research Dive :Despite of pandemic, the generic medicine market is predicted to grow immensely in the forecast period. Increasing healthcare cost is predicted to be the major driving factor for the market in the forecast period. Oncology therapeutic application will be most lucrative in the estimated period. Vaccine segment is predicted to have the highest market share. North America region is predicted grow enormously in the projected time frame.
Generic medicine market is predicted to grow enormously in terms of revenue in the forecast period. Increasing cases of chronic diseases such as cancer, tuberculosis, diabetes, cardiovascular diseases and many other among the population is predicted to be the major driving factor for the global generic medicine market in the forecast period. Moreover,the treatment cost of these diseases in the healthcare is very high, with the help of generic medicines the treatment cost will be very less which is predicted to boost the global generic medicine market in the forecast period.At present majority of the companies are focusing on treating corona patients with the help of generic drugs which is predicted to be boost the market in the forecast period. For instance, Cipla to sell generic version of Remdesivir for 4,000 to Covid-19 patients. Cipla has developed a generic version of Remdesivir, which would be the lowest-priced COVID drug around the world. Adverse effected associated with the drugs on patients is predicted to hinder the market in the forecast period. In addition, the misconception about the drugs among the population is predicted to hamper the market in the forecast period. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global social commerce market.
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Our report includes:
Investment Opportunity Analysis
Pre- Post-COVID Market Scenario
Supply Side Demand Side Impact
According to a study conducted by Research Dive, the generic medicine market is expected to register a revenue of $462.1 billion by 2027.
The global market is classified on the basis of type and application. The report offers the complete information about drivers, opportunities, restraints, segmental analysis and major players of the global market.
Factors Affecting the Market Growth
As per our analyst, increasing healthcare cost is predicted to be the major driving factor for the global generic medicine market in the forecast period. Moreover, the misconception about the drugs among the population is predicted to be the biggest restraints for the market in the estimated period.
Vaccine Segment is Predicted to be the Most Lucrative Segment
On the basis of product, the generic medicine market is further classified into blood factors, cytokines, immunoglobulin, insulin, monoclonal antibodies, peptide antibiotics, peptide hormones, vaccines and others. Vaccines segment is predicted to grow enormously in the forecast period. Manufacturing of vaccines are comparatively low as the manufacturing cost is low the price of vaccines will be affordable which is predicted to drive
Ontario coronavirus models reveal cases growth is much ‘slower’ than anticipated; Alberta changing testing guidelines for children
For more on today’s top stories and the spread of the novel coronavirus across the country, please refer to our live updates below throughout the day, as well as our COVID-19 news hub.
Ontario premier’s constituency closed after COVID-19 outbreak
A statement from the office of Ontario Premier Doug Ford confirms that his constituency office in Etobicoke North has been closed after COVID-19 cases were detected.
“Toronto Public Health has confirmed cases of COVID-19 among staff members of Premier Ford’s constituency office,” the statement reads. “The Premier has not visited the office in the past two weeks and has had no exposure.”
The Etobicoke office is expected to be closed “for the foreseeable future” to allow for deep cleaning of the space.
This comes as Ontario reported 896 new COVID-19 cases on Friday, including 314 cases in Toronto, 173 in Peel, 115 in York Region and 92 in Ottawa.
The province confirmed nine more COVID-19 deaths, bringing the total to 3,127.
A total of 41,008 tests were completed in the last day, with 41,063 tests under investigation.
There are currently 314 people with COVID-19 in Ontario hospitals, including 75 in ICU.
Across the province, 78 long-term care homes have an active outbreak with 421 active cases in residents and 280 staff cases.
Ontario reported 61 new school-related COVID-19 cases, including 40 student cases, four staff cases and 17 cases that haven’t been identified.
Quebec reports more than 950 new cases, 18 new confirmed deaths
Quebec reported 952 new COVID-19 cases on Friday, including 195 cases in Montreal, 151 in Montérégie and 109 in Lanaudière.
The province also confirmed 18 new deaths with four of them occurring in the last 24 hours.
There are currently 515 people with COVID-19 in Quebec hospital, including 81 people in intensive care.
Check out our COVID-19 in Canada topic page for latest news, tips, health updates, cases and more.
“This will not be a Democratic vaccine or Republican vaccine.”
Pfizer executives said in a third-quarter investor presentation on Tuesday they have not seen the first interim efficacy data yet. The Data Monitoring Committee, an independent group of experts monitoring the clinical studies and the data collection, “has not conducted any interim efficacy analyses to date,” according to Pfizer.
The slight delay from an earlier prediction of data by the end of October means results will likely not be known by Election Day, despite claims by President Donald Trump for months that a vaccine is “weeks away.”
The Data Monitoring Committee has thresholds for review that are triggered when a certain number of trial volunteers become sick with COVID-19. The first interim analysis is scheduled to happen when 32 people develop COVID-19, according to Pfizer’s extensive clinical trial protocol.
Bourla said, however, the company is still on track for a November application for authorization, if the vaccine shows to be effective and, just as importantly, safe.
Pfizer CEO Albert Bourla had previously said the company “may know whether or not our vaccine is effective by the end of October.”
Once there are 32 volunteers infected with COVID-19, Pfizer will analyze how many of them received the vaccine and how many received a placebo. If more than 76.9% of the grouping is in the placebo group, Pfizer will consider the vaccine efficacious.
Once an independent review board releases information on the trials, the company will need a week to review it internally, Bourla said.
Pfizer plans to release the interim data if it is negative (worse than 11.8%) or positive (better than 76.9%) for efficacy. If the data is somewhere in between, Pfizer will wait for more conclusive results, Bourla said.
“In case of a conclusive readout, positive or negative, we will inform the public as soon as we complete the necessary administrative work, which we estimate to be completed within one week from the time we know,” he explained to investors, adding that the company “reached the last mile here and we expect these things will start coming soon, so let’s all have patience.”
He said he is “cautiously optimistic” the vaccine will work based on earlier studies.
Pfizer said it expects efficacy and safety data will be available in November, and if it is, it will apply for emergency use authorization.
More than 42,000 participants have been enrolled and nearly 36,000 have received a second dose of the vaccine. Expanding the number of participants has allowed trials to include additional populations, among them children between 12 and 18 and people with preexisting conditions.
COVID-19 infections and hospitalizations are increasing again with no sign of stopping, sparking fears that the fall and winter wave experts had warned about all year is already here.
Over the past week, according to The New York Times COVID-19 tracker, the U.S. has confirmed an average of 54,000 new cases per day, a 25 percent increase compared to two weeks ago. The surge cannot solely be explained by an increase in testing.
Nineteen states, including North Dakota, Wisconsin, Nebraska, Kansas and Indiana, are seeing record-high case numbers in their areas, according to the tracker.
States that have seemingly gained control of the pandemic in recent months, such as Florida, New York, New Jersey, Arizona and others, are also seeing increases.
“We’ve been talking about the fall surge for a long time now. I think that is the beginning of that reality,” Scott Gottlieb, Trump’s former Food and Drug commissioner, told CNBC on Friday.
Gottlieb added that Europe, which is seeing a daily average of 100,000 new COVID-19 cases — higher than at any other time during the pandemic — is probably about two or three weeks ahead of the U.S.
“I think we’re in for a difficult fall and winter,” Gottlieb said.
Hospitalizations are also beginning to increase, with Wisconsin building a field hospital on the state park fairground.
Deaths remain flat at about 700 per day in the U.S., but that number typically lags behind hospitalizations, which lag behind case increases, meaning the U.S. could see more fatalities reported in the coming weeks.
The silver lining, Gottlieb said, is the death rate will likely be “substantially less” than it was in the spring and summer outbreaks because of improved therapies and techniques that have saved people’s lives.
Experts generally say there have been two “surges” of COVID-19 in the U.S.
The first surge hit the northeast in the spring, and the second hit the south over the summer, peaking at about 73,000 cases per day in July — the highest levels so far recorded in the pandemic in the U.S. Afterward, new cases steadily dropped, before beginning a climb upwards in September. Now the U.S. is poised to surpass the previous daily high in new cases, experts say.
“We’re actually almost already back at the peak that we saw nationally in the summer,” said Michael Mina, assistant professor of epidemiology at the Harvard T.H. Chain School of Public Health.
“We’re almost back at that same level and I don’t believe that we’re anywhere close to that rise abating. … We’re seeing [cases] go up and in Europe and in many of those places, cases really did get down fairly low numbers first and now they’re skyrocketing again in many places. We’re seeing it in the US, and we’re seeing in other places as well and so we’re pretty much there and I think we have a long winter ahead.”
Experts have warned for months of a surge in cases in the colder months that would likely rival the