The pneumonia therapeutics market is predicted to have a positive impact in 2020. Increasing cases of pneumococcal disease is predicted to drive the market in the forecast period. Pneumonia is mostly caused due to the infection in the lungs. At present the symptoms of coronavirus are most similar to that of pneumonia due to which most of the companies are focusing more on their research and development activities to launch new products to treat both the deadly diseases. For instance, in July 2020 NABRIVA received European approval for XENLETA (lefamulin) for treatment of community-acquired pneumonia (CAP). XENLETA is the first new antibiotic approved for patients with CAP in Europe. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global market.
According to a study conducted by Research Dive, the global pneumonia therapeutics market is expected to register a revenue of $3,147.7 million till 2027, growing at a rate of 8.2% CAGR during, 2020-2027. The global market is classified on the basis of drug class, age group, and infection type and distribution channel. The report provides detailed information about drivers, opportunities, restraints, segmental analysis and competitive players of the market.
Factors Affecting the Market Growth
As per our analyst, increasing cases of pneumonia across the globe is predicted to be the major driving factor for the market in the projection period. Moreover, lack of awareness among the population about the pneumonia treatment is predicted to hinder the market growth in the forecast period.
Antiviral Drugs is Predicted to Have the Highest Market Share
On the basis of drug class, the pneumonia therapeutics market is further segmented into antifungal drugs, antiviral drugs and antibacterial drugs. Antiviral drugs is predicted to generate a revenue of $1,621.1 by 2027 with a CAGR of 8.6% in the projected timeframe. Pneumonia is a critical lung disorder which occurs mainly due to flu, several antiviral drugs helps to minimize the seriousness of the flu and helps in getting recover at a faster rate as compared to others medications due to which antiviral drugs segment is predicted to boost the overall market in the projected time frame.
Geriatric Segment is Predicted to Have Highest Growth Rate
On the basis of age group, the pneumonia therapeutics market is further segmented into geriatric, adult, and pediatric. Geriatric segment is predicted to generate a revenue of $1,215.0 by 2027 with a CAGR of 8.7% in the projected timeframe. Geriatric population has a weak immune system. There are high chances of being affected by pneumonia among the geriatric population due to which it is predicted to boost the segment in the forecast period.
Community-Acquired Pneumonia is Predicted to Grow Enormously
On the basis of infection type, the pneumonia therapeutics market is further segmented into ventilator-associated pneumonia (VAP), community-acquired pneumonia (CAP) and hospital-acquired pneumonia (HAP). Community-acquired pneumonia segment is predicted to generate a revenue of $1,935.8 by 2027 with a CAGR of 8.5% in the projected timeframe. Community-acquired pneumonia generally occurs where people live in crowded places. Growing cases of community-acquired pneumonia especially in younger generation is predicted to boost the segment market in the forecast period.
Retail Pharmacies is Predicted to be the Most Lucrative Segment
On the basis of distribution channel, the pneumonia therapeutics market is further segmented into retail pharmacies, online pharmacies, and hospital pharmacies. Retail Pharmacies is predicted to generate a revenue of $1,284.2 by 2027 with a CAGR of 9.1% in the projected timeframe. The retail pharmacies segment is predicted to experience a boost due to the presence of large amount of brick and mortar store which gives a better advantage of accessibility, lower costs due to economies of scale and better services.
Regional Breakdown of the Market
On the basis of region, the pneumonia therapeutics market is further segmented into North America, Europe, Asia-Pacific and LAMEA. North America region market is predicted to generate a revenue of $1,023.0 by 2027 with a CAGR of 7.2% in the projected timeframe. Increasing geriatric population and presence of large number of pharmaceutical companies is predicted to drive the region market in the estimated time. Moreover, increasing research and development by majority of the companies is predicted to boost the region market in the forecast period
Top 9 Prominent players operating in the Global Pneumonia Therapeutics Market include:
2. Novartis Lupin Pharmaceuticals
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