Pneumonia Therapeutics Market: Upcoming Trends, Research Developments and Analysis Report to 2026
Pneumonia is a severe inflammation of the lungs. It can be fatal in some people, particularly the elderly and those with respiratory disorders. COVID-19, a disease caused by a novel coronavirus, can spread to the lungs, causing pneumonia. The disease associated with the new coronavirus was originally referred to as novel coronavirus-infected pneumonia (NCIP). It was renamed COVID-19 by the World Health Organization, short for coronavirus disease in 2019. The ongoing COVID-19 pandemic has a positive impact on the demand patterns in the pneumonia therapeutics industry.
According to the research report, the global pneumonia therapeutics market in 2019 was approximately USD 14.99 Billion. The market is expected to grow at a CAGR of 8.00% and is anticipated to reach around USD 25.67 Billion by 2026.
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Increasing numbers of cases are expected to boost the growth of the global market for pneumonia therapy. The global pneumonia therapeutics industry is expected to offer huge opportunities to producers, vendors, and customers around the globe. The growing prevalence of community-acquired pneumonia, particularly among younger individuals, is also a key factor contributing to market growth. Additionally, a Consistent increase in funding opportunities for research for the development of new products is expected to broaden the scope for growth over the coming years.
The global pneumonia therapeutics market is segmented on the basis of product type and region. On the basis of product type, the global pneumonia therapeutics market is divided into drugs, vaccines, and oxygen therapy. The drugs category is further divided into branded and generics. The branded drug category includes Aminopenicillins, Quinolones, Macrolides, B-lactamase inhibitors, Cephalosporins, Tetracyclines, Glycopeptide antibiotics, Carbapenems, and Others. The generic drug category includes Quinolones, Macrolides, and Others.
Based upon the region the global market has been categorized as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is expected to dominate in the global market in terms of revenue as compared to that of markets in other regions during the forecast period 2020-2026. This is attributed to growing incidences of COVID -19, growth in the geriatric population, increasing multidrug resistance in adults & children that reiterates the need for the development of advanced generation therapeutics in the region. Asia Pacific is anticipated to grow at a significant CAGR in the near future. The growth in the Asia Pacific countries is owing to the increasing occurrence of pneumococcal disease, unmet medical needs, increased antimicrobial tolerance, and increased conditions leading to a compromised immune system in the countries of the Asia Pacific.
Key players operating in the pneumonia therapeutics market not restricted to include Bayer AG, Lupin Pharmaceuticals, Inc., Abbott, Allergan, Pfizer, Inc., GlaxoSmithKline plc, Novartis AG, and Merck & Co., Inc. Key operating players in the global pneumonia therapeutics market are aiming towards the mergers and acquisitions in order to get the competitive edge in the market. For instance, Merck & Co., Inc. is focusing on the development of the V114 pneumococcal vaccine currently under investigation in phase II trials.
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