August 21, 2020
According to the research report titled ‘Pneumonia Therapeutics Market Size By Drug Class, By Age Group, By Infection Type, By Distribution Channel, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, global pneumonia therapeutics market is expected to record substantial growth over 2020-2026.
Rising number of community-acquired as well as ventilator associated cases of pneumonia and increasing clinical trials for development of drug molecules & vaccines are key factors propelling the growth of global pneumonia therapeutics market.
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For the record, pneumonia is a lung infection caused by bacteria, viruses or fungi and is generally treated with antibiotics. Although the disease can occur in infants and adults, it is can be fatal among individuals with impaired immune systems.
Additionally, medications of the infection vary depending on the general health of the individual as well as the type of pneumonia diagnosed. Therefore, the wide variety spectrum of medicines is further bolstering the expansion of global pneumonia therapeutics market.
Based on drug class, the antibacterial drug segment is expected to record a CAGR of 8% over 2020-2026, primarily due to introduction of modern therapeutics and rising cases of bacterial pneumonia.
With regards to age group, the report states that the pediatric segment accounted for USD 336 million in the year 2019 and is poised to accumulate similar returns in the subsequent years. Increasing occurrence of pneumonia among geriatric population is responsible for the growth of the segment.
Moving on to infection type, industry experts claim that the HAP (hospital-acquired pneumonia) segment is projected to register a 7.5% CAGR over through 2026, owing to prolonged duration of hospital stay and increasing prevalence of hospital-acquired pneumonia among critically ill patients.
Elaborating on the distribution channel, the online pharmacies segment is anticipated to account for 16% of the market share by 2026, primarily due to promotional discounts offered by the pharmacies along with increasing accessibility of the drugs.
As per the regional analysis of the report, Europe pneumonia therapeutics market accounted for around USD 375 million in the year 2019 and is predicted to expand continuously throughout the forecast duration. Increased pervasiveness of pneumonia and improving healthcare infrastructure are fostering the expansion of the regional market.
Key participants of global pneumonia therapeutics market are Sanofi S.A., Pfizer Inc., Novartis AG, Mylan N.V., Merck & Co., Inc., Lupin Pharmaceuticals, Inc., GlaxoSmithKline PLC, Cipla Ltd., Bayer AG, AstraZeneca PLC, Allergan, Inc., and Abbott Laboratories among others.