Market Dynamics:
One of the major drivers fueling growth of this market is increased funding and initiatives by governments and healthcare organizations for development of effective treatment drugs. For instance, National Institute of Allergy and Infectious Diseases (NIAID), a part of National Institutes of Health (NIH), is funding many research studies for testing potential treatments for COVID-19. Further, rising initiatives for large scale production of approved drugs is also contributing towards market growth.

However, high costs associated with drug development and stringent regulations for approval are some of the factors expected to hinder the market growth. Nonetheless, ongoing clinical trials and R&D for development of new drug formulations are expected to create lucrative growth opportunities for market players over the forecast period.

Key Takeaways

The Global Coronavirus Treatment Drugs Market Size is expected to witness high growth, exhibiting a CAGR of 17.5% over the forecast period, due to increasing research funding and accelerated clinical trials for COVID-19 drugs.

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