Global Pneumonia Therapeutics Market to witness Significant Growth and Reach Worth USD 2.84 Billion by 2026
According to BlueWeave Consulting, the Global Pneumonia Therapeutics Market worth is expected to reach USD 2.84 billion by 2026 from USD 1.7 billion in 2019 at a CAGR of 7.60% during the projection period.
The worldwide pneumonia therapeutics market is advancing due to the harmful effects of air pollution and rising geriatric populace across the world. Besides, numerous environmental wastes, including chemicals, catalyse the development of fungi, viruses, and bacteria leading to pneumonia. Moreover, the extensive R&D activities for new drugs and diagnostics by major companies and critical unmet need for pneumonia remedies propel the market for pneumonia therapeutics. However, the lack of consciousness among the population about proper drugs and diagnostics and use of traditional treatment for pneumonia may restrain the market growth.
Pneumonia is a seditious disorder that disturbs the air sacs or alveoli in the lungs and may add lead to fever, dry cough, chest pain, breathing trouble, etc. It is usually caused by germs and bacteria and mostly disturbs the person already affected by cold and flu. It can be detected with the help of blood tests, X-rays, physical examinations, etc. Vaccination helps to avoid pneumonia, whereas patients with critical situations, patients need to be hospitalized and help with oxygen therapy. Generally, antibiotics like quinolones, macrolides, etc. are used for treating pneumonia.
Global Pneumonia Therapeutics Market is segmented on Drug Class (Antibacterial, Antiviral, and Antifungal), Age Group (Paediatric, Adult, and Geriatric), Infection Type (Hospital-acquired Pneumonia [HAP], Community-acquired Pneumonia [CAP], and Ventilator-associated Pneumonia [VAP]), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies).
“Antiviral Drug Segment is expected to Register Significant Market Share and Growth.”
In Drug Class, the Antiviral drugs segment is anticipated to witness substantial CAGR during the forecast period due to increasing viral pneumonia which spreads from the fluid present in the air dews after distinct coughs or sneezes. Various remedial options, including Oseltamivir and Acyclovir, are available to give the antiviral treatment and diminish the severity of flu viruses into the body. These options are expected to induce market growth because of widespread common flu.
“The Key Drivers of the Pneumonia Therapeutic are the Surging Cases of Pneumonia across the Globe, Favourable Government Initiatives and Substantial R&D Outlay.“
The rising air pollution combined and environmental wastes proliferate pneumonia-causing bacteria, fungi and virus, leading to more occurrence of the disease. Apart from that, the geriatric population, which already accounts for 20% market share, is also increasing. Also, the geriatric population base has more chances of getting affected by flu and other lung-related disorders that sometimes grow into pneumonia.
Furthermore, several governments in emerging economies are committed to controlling the prevalence of the disease by outlining pneumonia-linked programs inducing further market development.
The market is buzzing with new product launches as a result of robust R&D activities by the market players. The companies are substantially investing in research and development activity to further growth. All these factors are expected to contribute to the substantial development of the market collectively during the projection period.
"Western World dominates the Global Pneumonia Therapeutics Market."
The markets in North America and Europe hold the dominant share and, are expected to maintain it with significant CAGR due to well-developed healthcare system, increasing occurrences of community-acquired pneumonia, and presence of major players in the region. The pharma companies in this region have a strong market presence in various locations.
Asia Pacific Pneumonia Therapeutics segment secured a substantial revenue share of 34% in 2019 and is expected to witness the highest CAGR during the forthcoming period on account of increasing government spending and expansion of operations by global market players in this region.
“The leading players” operating in the market are Global Pneumonia Therapeutics Market are Abbott Laboratories, Allergan, AstraZeneca, Bayer, Cipla, GlaxoSmithKline, Lupin Pharmaceuticals, Merck, Mylan, Novartis, Pfizer, Sanofi and other prominent players.