New Jersey, NJ, Sept. 04, 2019 (GLOBE NEWSWIRE) -- Growing geriatric population around the world, growing incidence of pneumococcal disease and increasing levels of pollution are driving the global pneumonia therapeutics market. Global pneumonia therapeutics market is expected to reach USD 26.37 Billion by 2026, at a CAGR of 8.39% from 2019 to 2026, according to the new report published by Fior Markets.
Pneumonia is an inflammatory medical condition which affects the air sacs or alveoli in the lungs. Common symptoms of pneumonia include dry cough, chest pain, fever, breathing trouble, etc. Pneumonia is generally caused by germs, fungi, viruses, and bacteria. People suffering from cold and flu are highly susceptible to contract pneumonia. It can prove to be the life-threatening condition for infants, young children, and elderly people. Pneumonia can easily be diagnosed with the use of blood tests, X-rays, physical examinations, etc. Generally, antibiotics like quinolones, macrolides, etc. are the first line of treatment, whereas patients with the severe condition, need to be hospitalized and treated with oxygen therapy. According to the World Health Organization, the annual incidence of pneumonia is approximately 150.7 million cases, out of which 7% to 13% require intensive treatment. Thus the constant rise in funding for the development of newer preventive vaccines and treatment drugs are anticipated to fuel the global pneumonia therapeutics market.
Even though the factors such as global increase in geriatric population, improvement diagnostic technologies as well as increasing levels of pollution are driving the global pneumonia therapeutics market. The use wide spectrum antibiotics leading to the development of drug resistant pneumonia strains is anticipated to restrain the growth of the market over the forecast period.
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Key players in the global pneumonia therapeutics market are Bayer AG, GlaxoSmithKline PLC, Sanofi, Merck & Co. Inc., Novartis AG, Eli Lilly and Company, AstraZeneca, Merck & Co., Pfizer Inc., Baxter International Inc., Allergan, and Lupin Pharmaceuticals Inc., and among others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- For instance in 2018, Pfizer Inc. announced that it's 20-Valent Pneumococcal Conjugate Vaccine has been granted with US FDA's breakthrough therapy designation. This new vaccines is effective for the prevention of invasive disease and pneumonia caused by Streptococcus pneumoniae serotypes in adults aged 18 years and older.
- India accounts 20% of global pneumonia deaths under the age of five. Thus, to abate these preventable pediatric deaths, India in 2017, launched the anti-pneumonia vaccine as part of the government's Universal Immunisation Programme (UIP). The vaccine programme aims to protect nearly 270 lakh newborns against 12 preventable diseases every year.
Preventive vaccines segment had a market value of USD 7.42 billion in 2018
The therapeutics segment is divided into drugs, preventive vaccines, and oxygen therapy. The growing prevalence of drug resistant pneumonia strains and high mortality rate & morbidity associated with pneumococcal infection are driving the demand for preventive vaccinations. Thus the preventive vaccination segment emerged as the leader with USD 7.42 billion revenue in 2018. The growing demand for the generic drugs is anticipated to propel the drugs segment to grow at a healthy pace over the forecast period.
The hospital pharmacy segment had a market value of USD 6.02 billion in 2018
Distribution channel is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. Improvement in the standard of the healthcare facilities in the Asia Pacific region coupled with increase in number of patients undergoing curative treatment for pneumonia, led hospital pharmacy segment to dominate the global pneumonia therapeutics market with USD 6.02 billion revenue in 2018. While the online pharmacy segment is anticipated to grow at a robust pace over the forecast period.
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Regional Segment Analysis of the Pneumonia Therapeutics Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region emerged as the largest market for the pneumonia therapeutics with market share of 38.92% in 2018. Presence of huge elderly population, well developed healthcare facilities as well as major pharmaceuticals and vaccines manufacturers are anticipated to prove the primary driving factors for the North America region to grow at an increased CAGR of 10.37% over the forecast period. Asia Pacific region is projected to attain a significant share of global pneumonia therapeutics market over the forecast period. Increasing levels of pollution, launch of preventive vaccination programs coupled with improvement in the standards healthcare facilities are anticipated to drive this increased growth.
About the report:
The global Pneumonia Therapeutics market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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