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.).

Comments

Post a Comment

Popular posts from this blog

Precast Concrete Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable Construction Practices

Image
Precast Concrete Market Market Overview: The Precast Concrete Market is witnessing significant growth due to the increasing demand for sustainable construction practices. Precast concrete products are prefabricated in controlled factory conditions, offering several advantages such as improved quality control, reduced construction time, and increased durability. These products are widely used in residential, commercial, and infrastructure projects due to their ability to enhance construction efficiency and productivity. With the growing need for energy-efficient and environmentally friendly buildings, the demand for precast concrete products is expected to rise. Market Key Trends: One key trend in the Precast Concrete Market is the adoption of advanced technology in manufacturing processes. The use of computer-aided design (CAD) and building information modeling (BIM) is enabling manufacturers to produce complex and customized precast concrete products with high precision. Additional
Read more

Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Growth driven by increased adoption of targeted therapies

Image
Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Market Overview: Relapsed Or Refractory Diffuse Large B Cell Lymphoma (R/R DLBCL) is an aggressive fast-growing type of non-Hodgkin's lymphoma (NHL) cancer that generally affects immune system cells called B cells. DLBCL can occur at any age but is most common in older adults. Novel targeted therapies like chimeric antigen receptor (CAR) T-cell therapies, bispecific antibodies and antibody-drug conjugates are revolutionizing the treatment of R/R DLBCL. These advanced therapies are offering new hope to patients by increasing survival rates. Market key trends: One of the key trends in the R/R DLBCL market is the increasing adoption of CAR T-cell therapies. CAR T-cell therapy is an innovative new approach to treating R/R DLBCL through the use of genetically engineered T-cells. Drugs like Kymriah and Yescarta have proven highly effective in treating certain patients with relapsed or refractory forms of large B-cell lymphoma.
Read more

The global Biopharmaceuticals Market connected with therapeutic biologics

Image
Biopharmaceuticals Market Market Overview: The biopharmaceuticals market comprises medicines produced using biotechnology methods like genetic engineering and includes vaccines, blood components, recombinant therapeutic proteins/antibodies, and monoclonal antibodies. Biopharmaceuticals are often used for treating serious medical conditions like cancer, autoimmune diseases, and other chronic disorders. These drugs provide targeted treatment options and have lesser side effects than traditional small-molecule drugs. The market is witnessing high demand due to increasing prevalence of chronic diseases and growing geriatric population globally. Market key trends: One of the key trends gaining traction in The Biopharmaceuticals Market Demand is the increasing adoption of biosimilars. Biosimilars are quasi-generic versions of original biologics and provide more affordable treatment options when the patents of biologics expire. Regulatory agencies in various regions are also approving bios
Read more