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Respiratory Tract Infection Treatment is Estimated to Witness High Growth Owing to Opportunity of Growing Prevalence of Respiratory Diseases

Respiratory Tract Infection Treatment is Estimated to Witness High Growth Owing to Opportunity of Growing Prevalence of Respiratory Diseases

Respiratory tract infections affect the airways and lungs, causing diseases such as pneumonia, bronchiolitis and the common cold. The respiratory tract infection treatment market comprises drugs for antibiotics, NSAIDs, cough suppressants and nasal decongestants that provide relief from symptoms. These medications are available in various dosage forms including tablets, capsules, syrups and nasal sprays for adults and children. With rising pollution levels and aging population globally, the incidence of respiratory diseases has increased significantly in recent years.

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 Opportunity

The growing prevalence of respiratory diseases owing to factors such as increasing pollution levels and aging population presents a major opportunity for the respiratory tract infection treatment market. As per the American Lung Association, over 25 million Americans suffer from asthma, and nearly 14.8 million had at least one asthma attack in 2016. Moreover, around 6,00,000 Americans die from respiratory diseases annually. The increasing pollution has resulted in higher incidence of lung cancer, COPD and other chronic respiratory illnesses. The rising geriatric population is also more prone to respiratory infections. With limited treatment options, there is a need for development of novel drugs with improved efficacy and safety. This presents lucrative growth prospects for manufacturers in the respiratory tract infection treatment market.

Porter's Analysis

Threat of new entrants: Low threat as there are high R&D costs, patents and economy of scale advantages protecting existing players.

Bargaining power of buyers: Moderate power due to availability of alternative treatment options but limited substitutions for critical therapies.

Bargaining power of suppliers: High power given complexity of research activities and therapies requiring specialized suppliers.

Threat of new substitutes: Medium threat due to ongoing R&D leading to new emerging therapies but existing drugs still dominate market share.

Competitive rivalry: Intense rivalry exists among top players due to fragmented market presence and focus on specialty therapeutic areas.

SWOT Analysis

Strengths: Strong R&D pipelines, advanced technologies, diverse product portfolios and financial resources of major players.

Weaknesses: High dependence on seasonal diseases, stringent regulations.

Opportunities: Rising instances of respiratory infections globally, growing healthcare infrastructure in developing regions.

Threats: Patent cliffs of major drugs, price control policies, increasing generic competition.

Key Takeaways

The Global Respiratory Tract Infection Treatment Market is expected to witness high growth over the forecast period 2023 to 2030. The market size for 2023 is estimated to be USD 89.57 Mn.

Regional analysis showcases North America currently dominating over 40% share due to developed healthcare infrastructure and increased per capita healthcare expenditure. Asia Pacific is poised to grow at fastest CAGR due to rising access to healthcare facilities and growing patient pool afflicted with respiratory ailments.

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.).

For more insights, Read- https://www.insightprobing.com/respiratory-tract-infection-treatment-market-demand-share-analysis/

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