Respiratory Tract Infection Treatment Market Poised to Witness High Growth Owing to Rising Prevalence of Respiratory Diseases

 
Respiratory Tract Infection Treatment Market

The respiratory tract infection treatment market consists of various drug classes such as antihistamines, decongestants, bronchodilators, corticosteroids, antibiotics, and other products that are used for treating common respiratory infections such as common cold, pneumonia, bronchitis, and influenza. These infections can either be bacterial or viral in nature and result in symptoms such as sore throat, cough, congestion, runny nose, and sneezing. Treatment options include both over-the-counter and prescription medications depending on the severity and type of infection.

The global respiratory tract infection treatment market is estimated to be valued at US$ 89.57 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Rising prevalence of respiratory diseases owing to growing pollution levels, changing environmental conditions, and aging population are key factors fueling the growth of the respiratory tract infection treatment market. According to WHO, around 65 million people suffer from chronic obstructive pulmonary disease worldwide. Moreover, increasing availability of generic drugs and new treatment options such as combination therapies are expected to drive market growth over the forecast period. One of the key drivers of the market is rising prevalence of respiratory diseases. Rising pollution levels and aging population have increased susceptibility to respiratory infections thereby driving demand for treatment and management options.

Additionally, increasing awareness about availability of medications and urge to seek timely treatment for infections is expected to present lucrative growth opportunities. However, lack of awareness about various novel treatment options in developing regions may hamper market growth to an extent over the forecast period.

SWOT Analysis

Strength: The respiratory tract infection treatment market has a large target patient population as respiratory tract infections are very common. The established supply chain and distribution network of key players ensures widespread availability of treatment options. The rising R&D investments by players has led to the development of novel drugs with improved efficacy.

Weakness: The high costs associated with drug development and regulatory approvals increase the pricing of novel treatment therapies. The presence of generic competition limits the prices and sales potential of patented drugs. Dependence on seasonal trends makes forecasting demand challenging for companies.

Opportunity: The growing geriatric population which is more susceptible to respiratory infections provides an opportunity to target this demography. Increasing awareness about new treatment options in developing countries will boost market growth. The ongoing COVID-19 pandemic has highlighted the need for new anti-infectives, presenting lucrative opportunities.

Threats: The threat of new emerging pathogens poses challenges in drug development. Stringent regulations can delay drug approvals. Patent expiries of major drugs will increase generic competition. Economic slowdowns can negatively impact the healthcare expenditures and market revenues.

Key Takeaways

The Global Respiratory Tract Infection Treatment Market is expected to witness high growth over the forecast period. It is projected to reach a value of USD 154.53 Mn by 2030 from USD 89.57 Mn in 2023, expanding at a CAGR of 7.5%.

Regional analysis: North America is expected to dominate the market owing to established healthcare infrastructure and presence of major players. Asia Pacific is expected to be the fastest growing market led by populace countries like India and China. Increasing geriatric population, growing per capita healthcare spend and evolving healthcare systems will drive the regional demand.

Key players: Key players operating in the respiratory tract infection treatment market are F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Abbott (U.S.), Hikma Pharmaceuticals PLC (U.K.), Allergan (Ireland), Eli Lilly and Company (U.S.), Aurobindo Pharma (India), Lupin (India), SHIONOGI & Co., Ltd. (Japan), AbbVie Inc. (U.S.).

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