Influenza Treatment Market Size to Reach $1.2 Billion, by 2026 At 4.5% CAGR
Pune, Maharashtra, India, February 16 2021 (Wiredrelease) Allied Analytics –:Influenza drugs are defined as the medicines which are employed for the treatment of patients suffering from influenza. Influenza is a viral infection caused by influenza viruses such as type A, type and type B. Furthermore, the virus is more serious in some group of people such as pregnant women, older people, young children, and people suffering from chronic diseases. Moreover, the infection manifests a wide range of clinical symptoms such as headache, muscle aches, high fever, and vomiting. In addition, severe cases of influenza can also lead to fatalities. Therefore, treatment of the condition is necessary and requires use of anti-viral drugs such as Peramivir, Zanamivir, Oseltamivir Phosphate, and Baloxavir Marboxil.
According to a new report published by Allied Market Research, titled, “Influenza Treatment Market by Product Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018–2026,” the global influenza treatment market size was valued at $862 million in 2018, and is expected to reach $1.2 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
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Rise in incidences of influenza across the globe is the major factor that contributes to the growth of the influenza treatment market. Furthermore, other factors such as surge in healthcare expenditure and rise in R&D investments related to ant-viral drugs boost the influenza treatment market growth. For instance, in 2018, F. Hoffmann-La Roche AG launched Xofluza (Baloxavir Marboxil) for the treatment of influenza. Furthermore, Xofluza is the first new flu medicine with a novel proposed mechanism of action. Therefore, this leads to availability of better treatment option for the patients. However, adoption of influenza vaccines hampers the growth of the influenza treatment market. Conversely, high growth potential exhibited by developing economies due to surge in awareness related to early detection and treatment of influenza is expected to offer lucrative opportunities for the market during the forecast period.
The influenza treatment market size is studied on the basis of product type, distribution channel, and region to provide a detailed assessment. On the basis of product type, it is segmented into Peramivir, Zanamivir, Oseltamivir Phosphate, Baloxavir Marboxil, and others. By distribution channel, it is bifurcated into retail pharmacy, hospital pharmacy, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
By product, the market is classified into is segmented into Peramivir, Zanamivir, Oseltamivir Phosphate, Baloxavir Marboxil, and others. The others segment acquired the largest share of the influenza treatment market in 2018. Furthermore, the segment is also anticipated to exhibit fastest growth during the forecast period. The growth of this segment is attributable to surge in prevalence of influenza virus infection across the globe. Furthermore, rise in awareness related to early diagnosis of the infection for better treatment is another major reason that contributes to the growth of the market.
By distribution channel, the influenza treatment market is divided into retail pharmacy, hospital pharmacy, and others. The retail pharmacy segment occupied the largest market share in 2018, owing to factors such as rise in number of retail pharmacies across the globe. In addition, other factors such as rise in awareness related to use of influenza drugs is another major factor that contributes to the growth of the market. The other factors which boost the growth of the market include surge in the number of retail pharmacies across the globe which lead to easy availability of influenza drugs. On the contrary, the others segment is expected to witness the fastest growth rate during the forecast period due to surge in use of internet across the globe, which allows consumers to buy drugs online.
By region, North America accounted for the major influenza treatment market share in 2018, and is expected to continue this trend, owing to easy availability of influenza treatment. Moreover, surge in incidences of influenza infection is another major reason that contributes to the growth of this market. However, Asia-Pacific is estimated to register the fastest growth rate during the forecast period, owing to increase in awareness regarding the use of influenza drugs for the treatment of infection. The constantly evolving life science industry in Asia-Pacific drives the growth of the market in developing economies such as India, China, and Malaysia. . As the constant development leads to surge in awareness related to the use of influenza treatment.
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KEY FINDINGS OF THE STUDY
Oseltamivir phosphate occupied more than two-fifth share of the global influenza treatment market in 2018.
The others segment in distribution channel pharmacy segment is anticipated to grow with the highest CAGR throughout the forecast period.
The others segment in product type accounted for more than two-fifth share of the market in 2018.
Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.
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