Global Pneumonia Therapeutics Market is expected to grow at a CAGR of 8.39% during the forecast period from 2019-2026
A new research report published by Fior Markets with the title Pneumonia Therapeutics Market by Therapeutics (Drugs, Preventive Vaccines, Oxygen Therapy), Distribution Channel, Regions, and Global Forecast 2019-2026.
As per the report, the global pneumonia therapeutics market is expected to grow from USD 13.84 Billion in 2018 to USD 26.37 Billion by 2026, at a CAGR of 8.39% during the forecast period from 2019-2026. The North America region emerged as the largest market for the pneumonia therapeutics with a 38.92% share of market revenue in 2018.
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Major players in the global pneumonia therapeutics market are Bayer AG, GlaxoSmithKline PLC, Sanofi, Merck & Co. Inc., Novartis AG, Eli Lilly and Company, AstraZeneca, Merck & Co., Pfizer Inc., Baxter International Inc., Allergan, Lupin Pharmaceuticals Inc., and among others. Major pharmaceutical firms are heavily investing on the development of novel preventative vaccines. For instance in 2018, Pfizer Inc. announced that it’s 20-Valent Pneumococcal Conjugate Vaccine has been granted with US FDA’s breakthrough therapy designation. This new vaccines is effective for the prevention of invasive disease and pneumonia caused by Streptococcus pneumoniae serotypes in adults aged 18 years and older.
The therapeutics segment is divided into drugs, preventive vaccines, and oxygen therapy. The growing prevalence of drug resistant pneumonia strains and high mortality rate & morbidity associated with pneumococcal infection are driving the demand for preventive vaccinations. Thus the preventive vaccination segment emerged as the leader with a 53.62% share of market revenue in 2018. The growing demand for the generic drugs is anticipated to propel the drugs segment to grow at a healthy pace over the forecast period. Distribution channel is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Improvement in the standard of the healthcare facilities in the Asia Pacific region coupled with increase in number of patients undergoing curative treatment for pneumonia, led hospital pharmacy segment to dominate the global pneumonia therapeutics market with a 43.51% share of market revenue in 2018. While the online pharmacy segment is anticipated to grow at a robust pace over the forecast period.
Even though the factors such as global increase in geriatric population, improvement diagnostic technologies as well as increasing levels of pollution are driving the global pneumonia therapeutics market. The use wide spectrum antibiotics leading to the development of drug resistant pneumonia strains is anticipated to restrain the growth of the market over the forecast period.
About the report:
The global pneumonia therapeutics market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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