Pneumonia Therapeutics Market Forecasted to Grow at a CAGR of 7.3% by 2031, Reaching a Total Worth of USD 5.7 billion | Transparency Market Research, Inc.
Transparency Market Research
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Transparency Market Research
Telemedicine and digital health will increase demand for pneumonia therapeutics.
Wilmington, Delaware, United States, Feb. 19, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The pneumonia therapeutics market was valued at US$ 3.0 billion in 2022. A CAGR of 7.3% is projected from 2023 to 2031, reaching over US$ 5.7 billion by 2031. Pneumonia treatment may become more individualized and focused in the future. Advances in genomics and precision medicine may lead to the creation of personalized treatments for an individual's genetic makeup, improving therapeutic efficacy while reducing side effects.
Ongoing research into new and improved pneumonia vaccinations may shape future treatment paradigms. Vaccination techniques that target a larger spectrum of pneumonia-causing bacteria and improve vaccine accessibility may help to reduce the disease's overall impact. The advent of antibiotic resistance presents a serious issue in treating bacterial pneumonia. Future pneumonia therapies may need to address this issue by developing new antibiotics or alternate therapy options.
Combining digital health technologies and telemedicine could help monitor and manage pneumonia. Remote patient monitoring, teleconsultations, and data-driven healthcare solutions may help early diagnose and manage pneumonia. International efforts to improve healthcare infrastructure, particularly in developing countries, may impact pneumonia incidence and treatment. Global health activities will most likely focus on ensuring access to affordable and effective treatments and preventive measures such as immunizations.
Global Pneumonia Therapeutics Market: Key Players Several key players dominate the pneumonia therapeutics market. New medicines are developed by leading companies in this sector. Major companies have collaborated, merged, and acquired each other. In addition, related companies have formed alliances and partnerships.
Key Players Profiled in TMR’s Report
AstraZeneca
Novartis AG
AbbVie Inc.
Teva Pharmaceutical Industries Ltd.
Pfizer Inc.
Sanofi
Lupin Pharmaceuticals Inc.
Innoviva, Inc.
Wockhardt Ltd.
Sumitomo Pharma Co. Ltd.
Other Players
Key Findings of the Market Report
Bacterial pneumonia has become a significant market segment for pneumonia therapeutics.
Antibiotics have been the standard treatment for bacterial pneumonia, the most common type, for decades.
The oral route of administration is expected to drive the market for pneumonia therapeutics
A major market share is expected to come from North America between 2023 and 2031.
Global Pneumonia Therapeutics Market: Growth Drivers
Advances in medical science and technology are critical in defining the landscape of pneumonia treatment. Ongoing research contributes to the development of novel medications and therapies, resulting in more effective and tailored pneumonia treatments. This ongoing evolution of treatment choices improves patient outcomes and drives growth in the pneumonia therapeutics industry.
The rising prevalence of pneumonia and other respiratory illnesses is a major driver. Pneumonia remains a prominent cause of morbidity and mortality worldwide, with a high incidence rate, particularly among the elderly and those with weakened immune systems. The increased incidence of respiratory infections feeds demand for pneumonia medicines, which is driving market expansion as pharmaceutical companies focus on treating this public health issue.
The expanding global aging population is a major driver of the pneumonia treatment industry. Age-related factors make elderly people more vulnerable to pneumonia because of reduced immune systems and other age-related variables.
As the world population ages, the prevalence of pneumonia is predicted to climb, driving up the need for treatments. Demographic shifts create significant market opportunities for pharmaceutical companies to develop and commercialize pneumonia treatments tailored to the special demands of the ageing population.
Global Pneumonia Therapeutics Market: Regional Landscape
Pneumonia therapeutics are expected to be dominated by North America. The region's strong healthcare infrastructure and high healthcare spending play an important impact.
North America invests considerably in healthcare research and development, particularly in the United States and Canada. This funding commitment promotes innovation in pneumonia therapeutics, resulting in the development of new medications and treatment modalities that drive market expansion.
Increased awareness and diagnosis of pneumonia contribute to market growth. Efforts in public health awareness campaigns and advances in testing technologies result in earlier and more accurate identification of pneumonia cases. Healthcare practitioners can deliver timely and effective therapy, increasing demand for pneumonia treatments in the region.
A rise in lifestyle-related risk factors, such as smoking and environmental pollution, adds to the spread of pneumonia. North America's lifestyle patterns, which include high smoking rates and exposure to environmental toxins, make the population more susceptible to respiratory diseases. This increased risk causes a constant demand for pneumonia treatments, encompassing both preventive and therapy approaches.
Key Developments
In May 2023, the U.S. Food and Drug Administration approved XACDURO by Innoviva Specialty Therapeutics, a subsidiary of Innoviva, Inc. These medications were approved for use by adults 18 and older as a package for intravenous administration.
They are intended to treat bacterial pneumonia contracted from hospitals or ventilators (HABP/VABP) resulting from susceptible strains of Acinetobacter baumannii-calcoaceticus.
Global Pneumonia Therapeutics Market: Segmentation Type
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