Pneumonia Therapeutics Market size worth around $2.8 Bn By 2026

Pneumonia Therapeutics Market size is poised to surpass USD 2.8 Bn by 2026; according to a new research report by Global Market Insights Inc.
 

Pneumonia is caused due to fungi, bacteria, and viruses. People suffering from cold and flu are highly susceptible to pneumonia. Pneumonia can be treated by an antibiotic, antiviral or antifungal drugs depending upon the causative agent. The rising need for pneumonia therapeutics drugs will boost industry demand across the globe.
 

Increasing government initiatives to prevent pneumonia will drive the market growth

Increasing government initiatives for the treatment and prevention of pneumonia will boost the pneumonia therapeutics market growth. UNICEF and WHO developed the Integrated Global Action Plan for pneumonia as well as diarrhea (GAPPD). This initiative was aimed to accelerate pneumonia control as well as prevent, protect, and treat pneumonia among children. Moreover, this plan focuses on reducing deaths occurring from pneumonia to less than 3 children per 1000 individuals by 2025. Additionally, this integrated program aims to increase the availability of pneumonia therapeutics in developing countries. Thus, rising initiatives by regulatory bodies for pneumonia control will accelerate the demand for pneumonia therapeutics in developing nations.
 

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Increasing incidence of fungal pneumonia will aid the segmental progression

The antifungal drugs segment will witness around 5.5% CAGR over 2020 to 2026. Fungal pneumonia majorly occurs in immunocompromised individuals. Patients with fungal pneumonia are treated with antifungal drugs such as fluconazole, voriconazole, etc. to reduce the spread of infection. Thus, the antifungal drugs segment will experience moderate growth over the years owing to the increasing population of immunosuppressant patients throughout the globe.
 

Browse key industry insights spread across 180 pages with 176 market data tables & 14 figures & charts from the report, “Pneumonia Therapeutics Market Size By Drug Class (Antibacterial Drugs {Quinolones, Macrolide}, Antiviral Drugs, Antifungal Drugs), By Age Group (Pediatric, Adult, Geriatric), By Infection Type (Hospital-acquired Pneumonia (HAP), Community-acquired Pneumonia (CAP), Ventilator-associated Pneumonia (VAP), By Distribution Channel, (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/pneumonia-therapeutics-market
 

Increasing risk of pneumonia among adults will offer a significant market boost

Adult segment held around 60% pneumonia therapeutics market share in 2019. Individuals between age-group 16 to 65 are prone to develop pneumonia due to changing lifestyles. Factors such as alcoholism, smoking, and growing stress among others lead to immunosuppression resulting in increased chances of catching pneumonia. Also, severe pneumonia may cause life-threatening conditions among such individuals, thereby increasing the consumption of pneumonia therapeutics in adults. This is anticipated to boost the segmental growth over the forecast period.
 

Upsurge in number of surgeries requiring ventilators is expected to propel the market growth

The ventilator-associated pneumonia segment was valued over USD 52 million in 2019. Ventilator support is majorly given to patients in healthcare facilities during or after any surgery. Ventilator-associated pneumonia occurs in patients with more than 48 hours of intubation and mechanical ventilation support. In addition, the increasing number of surgeries that require ventilators will favour segmental growth. Furthermore, VAP affected patients require intensive care and long-term dosage of pneumonia therapeutics, thereby propelling the overall market growth.
 

Rising preference towards retail pharmacies will propel the market growth

The pneumonia therapeutics market from retail pharmacies distribution channel will experience over 7.5% CAGR during 2020 to 2026. Neighbourhood retail pharmacies are quick to access that makes it a patient’s first preference. Furthermore, increasing advantages of retail pharmacies such as easier medication pick-up and avoiding delays in therapies will boost segmental growth.
 

Rising initiatives for the prevention of pneumonia in Europe will accelerate the market demand

Europe captured more than 20% market share in 2019. The regional growth is majorly due to increasing incidence of pneumococcal disease leading to weak immune system among the population base. Moreover, recent outbreak of COVID-19, will boost the need for pneumonia therapeutic drugs in this region to some extent. Moreover, key market leaders operating in this industry are investing in R&D activities along with novel product development that eventually favors the regional market growth.  
 

Adoption of strategies by key players will boost the overall business growth

Key market participants operating in pneumonia therapeutics industry share are Allergan, Abbott Laboratories, Cipla, Mylan, GlaxoSmithKline, Bayer, Novartis, Sanofi, Pfizer, Merck, Lupin Pharmaceuticals and AstraZeneca. These market players are engaged in inorganic and organic business strategies such as acquisitions and collaborations to gain significant revenue shares in the pneumonia therapeutics business. Additionally, the pneumonia therapeutics market players are also aiming on expanding their product portfolio and services to strengthen their position in the market as well as increase their customer base in the industry.