COVID-19 Driving up Antiviral Drugs Market, E-Commerce & Digital Promotionwebdev
While the COVID-19 pandemic continues to “disrupt” the world of business in so many ways and across all industries, the pharmaceutical sector is no exception as attention turns to the rush to bring a cure to market and industry major players step up their digital marketing efforts in the race to win over customers.
Global antiviral drugs market moving at 3.7%
Increasing numbers of patients falling to viral infections, and the corresponding research and development efforts by “big pharma” to develop novel product solutions, are expected to speed the global antiviral drugs market at around 3.7% between now and 2027 towards a value of $74.7 billion, according to a report by Acumen Research and Consulting.
Meanwhile, surging Internet penetration and the uptake of smartphones are major factors hastening the demand for digital content production—particularly video content—as pharmaceutical company marketing teams endeavor to win the hearts, minds, and wallets of consumers over to their products.
E-commerce boosting demand for digital promotional videos
As full-service digital marketing partners such as 12Handz proliferate worldwide, promotional videos are expected to lead the market with the highest compound annual growth rate (CAGR) during the next few years, according to a report from Transparency Market Research. What’s more, the escalating trend towards e-commerce is also boosting demand for digital promotional videos to help companies engage and retain customers.
Players in the market are diversifying their portfolio of digital marketing services in order to satisfy an increasingly well-informed, sophisticated clientele by adopting new camera technologies such as 4K and paying attention to advanced video formats such as 3D animation. This desire for compelling corporate video content is seen as a vital trend expected to steer the video production services market ahead.
Pharmaceuticals market heading towards global value of $1700.97 billion by 2025
Globally, the pharmaceuticals market is expected to grow from a 2020 value of $1228 billion to $1250 billion this year, a nominal CAGR of 1.8%, according to “Pharmaceuticals Global Market Report 2021: COVID-19 Impact and Recovery to 2030”.
This growth is primarily attributable to pharmaceutical companies restructuring operations and recovering from COVID-19 impacts such as restrictive lockdowns, social distancing, remote working, and business shuttering.
Market majors such as Pfizer, F. Hoffmann-La Roche, Sanofi, Johnson & Johnson, and Merck & Co. are expected to lead a charge towards a global value of $1700.97 billion by 2025 at a CAGR of 8%.