Pneumonia Therapeutics Market Size, Share, Trends, Opportunities Analysis Forecast Report by 2026
According to Facts & Factors, the global pneumonia therapeutics market size in terms of revenue was worth around USD 14.99 Billion in 2019 and is expected to reach USD 25.67 Billion by 2026, growing at a CAGR of 8% from 2020 to 2026. The global pneumonia therapeutics market is projected to grow at a significant growth rate due to a number of driving factors.
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Pneumonia is a serious lung inflammation. Some people, particularly the elderly and those with respiratory issues, can die as a result of it. COVID-19, a novel coronavirus-caused illness, can spread to the lungs and cause pneumonia. The sickness caused by the new coronavirus was initially known as novel coronavirus-infected pneumonia (NCIP). In 2019, the World Health Organization dubbed it COVID-19, short for coronavirus disease. The ongoing COVID-19 pandemic has a beneficial impact on the pneumonia medicines industry’s demand patterns.
The growing number of instances is likely to drive the global market for pneumonia therapy forward. The global pneumonia therapeutics industry is predicted to provide enormous potential for producers, vendors, and customers worldwide. The rising prevalence of community-acquired pneumonia, particularly among younger people, is also a major driver driving market expansion. Furthermore, a consistent increase in funding opportunities for research and product development is likely to extend the possibility for growth in the coming years.
The worldwide pneumonia therapeutics market is divided into two sections: product type and geography. The global pneumonia therapeutics market is segmented by product type into medicines, vaccines, and oxygen therapy. There are two types of drugs: branded and generic. Aminopenicillins, Quinolones, Macrolides, B-lactamase inhibitors, Cephalosporins, Tetracyclines, Glycopeptide antibiotics, Carbapenems, and Others are examples of branded drugs. Quinolones, Macrolides, and Others are examples of generic drugs.
The global market has been divided into five regions: North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. During the projection period 2020-2026, North America is predicted to lead the global market in terms of revenue when compared to markets in other regions. This is due to rising COVID-19 occurrences, an ageing population, and increasing multidrug resistance in adults and children, all of which highlight the region’s need for new generation treatments. In the foreseeable future, Asia Pacific is expected to grow at a considerable CAGR. The Asia Pacific countries’ growth is due to the increasing prevalence of pneumococcal illness, unmet medical needs, increased antibiotic tolerance, and increased conditions leading to a compromised immune system.
Bayer AG, Lupin Pharmaceuticals, Inc., Abbott, Allergan, Pfizer, Inc., GlaxoSmithKline plc, Novartis AG, and Merck & Co., Inc. are among the key competitors in the pneumonia therapeutics market. To gain a competitive advantage in the worldwide pneumonia therapeutics market, key operational companies are pursuing mergers and acquisitions. Merck & Co., Inc., for example, is concentrating on the development of the V114 pneumococcal vaccine, which is now being studied in phase II trials.
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