The global pneumonia therapeutics market is expected to reach USD 22.9 billion by 2025, according to a new report by Grand View Research, Inc. This market is anticipated to grow at an unprecedented rate owing to the increasing prevalence of pneumococcal disease globally. The increasing demand for pneumonia therapeutics is a result of unmet clinical needs in emerging as well as developed regions. Increasing focus of healthcare organizations on raising awareness and issuing guidelines for efficient management of pneumococcal disease is predicted to broaden the scope for growth over the coming years.For instance, Infectious Diseases Society of America/American Thoracic Society has issued guidelines on the management of community-acquired pneumonia. According to a white paper released by American Academy of Family Physicians, adherence to these guidelines has resulted in positive patient outcomes during the treatment of community-acquired bacterial pneumonia in patients.
Moreover, growing R&D activities in life sciences are anticipated to create positive impact on the market over the coming years. Consequentially, increase in number of products, currently being reviewed under clinical trials, is anticipated to fuel the overall growth.In the present scenario, there are 12 drugs under investigation in phase III trials, 4 drugs under phase II, and 3 drugs under phase I trial. The aforementioned factors exemplify the consistent efforts being made by the market players. For instance, Omadacycline, a tetracycline under phase III clinical trial, developed by Paratek Pharmaceuticals is being investigated for use in the treatment of ventilator-associated and community-acquired bacterial pneumonia.
U.S. pneumonia therapeutics market by product, 2014 – 2025 (USD Million)
Browse full research report on Pneumonia Therapeutics Market
Further key findings from the report suggest:
- Vaccines accounted for the largest share in the product segment in 2016. This can be attributed to their high efficacy and growing inclination of patients toward preventive measures
- They are also expected to grow at a lucrative rate owing to the recommendation by WHO for their inclusion in national immunization programs
- Drugs are expected to witness moderate growth rate throughout the forecast period. This is believed to be a result of the infiltration of generic drugs that are more cost-efficient.
- North America accounted fora substantial share in the market owing toincreasing number of supportive government initiatives and high awareness levels amongst the end-users
- Asia Pacific is expected to witness exponential CAGR during the forecast period owing to its high disease burden and continual infrastructural upgradation of research & manufacturing facilities in the region
- High competition has been observed in the market, where major players adopt strategies such as new product development, collaborations,and strategic agreements to gain market share
For more information: http://www.grandviewresearch.com