Respiratory tract infections are extremely common ailments that occur in the respiratory tract organs including nose, sinuses, throat, and lungs. The rising prevalence of respiratory disorders such as sinusitis, pharyngitis, and pneumonia is driving significant demand for respiratory tract infection treatment drugs. Due to advancements in treatment options, demand for antibiotics, antivirals, and anti-inflammatory drugs has been on a rise.
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 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising incidence of respiratory tract infections is one of the key factors fueling the growth of the respiratory tract infection treatment market. As per the World Health Organization (WHO), approximately 291 million new cases of respiratory tract infections were reported in 2019 globally. Increasing air pollution levels, growing prevalence of respiratory disorders such as asthma and COPD, rising smoker population are some of the major factors contributing to the higher risk of respiratory tract infections. Furthermore, increasing research activities for developing novel treatment therapies is also boosting the respiratory tract infection treatment market growth. Various pharmaceutical companies are investing heavily in R&D for developing more targeted treatment options with lower side effects.
Segment Analysis
The Global Respiratory Tract Infection Treatment Market Demand is dominated by the antibiotics sub-segment. Antibiotics account for more than 60% share of the total market as they are still considered as the frontline therapy for respiratory tract infections. Antibiotics can effectively treat most respiratory tract infections caused by bacteria and help recover faster. Commonly used antibiotics for respiratory infections include penicillins, cephalosporins, macrolides and fluoroquinolones.
Key Takeaways
The global respiratory tract infection treatment market is expected to witness high growth over the forecast period of 2023 to 2030. 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 7.1% over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates the respiratory tract infection treatment market. This is attributed to the rising prevalence of respiratory diseases in the US and Canada. However, Asia Pacific is expected to witness the fastest growth over the coming years led by China and India.
Key players: Key players operating in the respiratory tract infection treatment market are Abbott Laboratories, AstraZeneca, Plc, Abbvie Inc., Boehringer Ingelheim GmbH, Cipla Pharmaceutical Company, GlaxoSmithKline plc, Pfizer Inc., Merck & Co., Novartis AG, F. Hoffman La Roche Ltd, Sanofi, and Teva Pharmaceutical Industries Ltd. Abbott Laboratories leads the market with its broad portfolio of antibiotics used for treating respiratory infections. A new trend observed in the market is the increasing focus of companies on developing vaccines and monoclonal antibodies for prevention and non-antibiotic treatment of respiratory infections.
Get more insights on this topic: https://www.trendingwebwire.com/respiratory-tract-infection-treatment-market-size-and-share-analysis-growth-trends-and-forecasts-2023-2030/
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the upper respiratory tract infection treatment market include Alcon, Inc., Merck & Co., Inc., Collegium Pharmaceutical, Inc., GlaxoSmithKline plc and Verona Pharma Plc, Pfizer Inc. Teva Pharmaceuticals, Hospira,Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Upper Respiratory Tract Infection Treatment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/upper-respiratory-tract-infection-treatment-market/download-sampleMarket Dynamics The continuous changes in climate and rising pollution around the globe is the primary factor for increasing cases of upper respiratory tract infection.
Availability of OTC of topical solution for upper respiratory tract infection is propelling the growth of the market.
In addition, growing awareness of people about their health and rising expenditure on personal hygiene will also propel the growth of the market.
Rising medical infrastructure and favorable reimbursement scenarios in developed regions are responsible for the strong growth of the market.
