The global Respiratory tract infections Treatment market to gain traction due to immunity declines
Respiratory tract infections majorly include conditions like pneumonia, bronchitis and the common cold characterized by inflammation of the nasal passages, sinuses, pharynx, larynx, or lower respiratory tract. A significant rise in respiratory tract infections has been witnessed in recent times owing to factors like sedentary lifestyles, rising air pollution and declining immunity. The increasing healthcare costs associated with the treatment of respiratory tract infections has given rise to demand for effective drugs.
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 key trends:
The accelerating cases of respiratory tract infections have also led to a growth in the adoption of innovative therapeutic drugs and improved diagnostics for faster detection and management of respiratory diseases. Leading drug manufacturers are increasingly investing in R&D activities focused on developing novel drug formulations with newer mechanisms of action and minimal side effects. For instance, combination therapies targeting multiple sites of infections are gaining traction. Biologics also hold potential given their high specificity and efficacy. Further, the market has witnessed rising adoption of single-use devices and disposables to minimize hospital-acquired infections during respiratory treatments aided by their affordability.
Segment Analysis
The global respiratory tract infection treatment market is dominated by the antibiotics segment. Antibiotics have been used for treating respiratory tract infections for decades and are the first line of treatment recommended by healthcare professionals for various infections like pneumonia, sinusitis, and bronchitis. This segment accounts for over 50% of the market owing to effective treatments offered by broad-spectrum antibiotics for both bacterial and viral infections. The anti-inflammatory drugs segment is expected to witness high growth during the forecast period due to increasing usage of corticosteroids to reduce inflammation in respiratory tract infections.
Key Takeaways
The Global Respiratory Tract Infection Treatment Market is expected to witness high growth during the forecast period. 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.
Regional analysis: North America currently dominates the global market due to high prevalence of respiratory infections and availability of developed healthcare infrastructure. However, Asia Pacific is expected to grow at the fastest pace owing to increasing healthcare spending, large patient population and rising awareness regarding treatment.
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.). Key players are focusing on launching innovative drug formulations and combinations to increase market share.
For more insights, Read- https://perfectinsights.blogspot.com/2023/12/respiratory-tract-infection-treatment.html
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