The new report by Expert Market Research titled, ‘Global Pneumonia Treatment Market Trends, Price, Share, Size, Report and Forecast 2023-2028’, gives an in-depth analysis of the global pneumonia treatment market, assessing the market based on its segments like drugs, vaccines, oxygen therapy and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2020): USD 15.8 Billion
• Forecast CAGR (2023-2028): 7.8%
• Forecast Market Value (2026): USD 24.8 Billion
According to WHO estimates from 2019, pneumonia kills 15% of all children under the age of five years old in the world. This is due to children’s immune systems being weakened by malnutrition and undernutrition. Pre-existing illnesses, as well as environmental variables including air pollution and passive smoking, are also significant risk factors.
Furthermore, as the population ages, more people are becoming susceptible to pneumococcal infections. In this context, countries around the world and international organisations are launching steps to curb the spread of pneumonia and reduce the hazards associated with it. For example, the Global Action Plan for Pneumonia and Diarrhoea (GAPPD), a WHO and UNICEF programme, aims to prevent, protect, and cure children in conjunction with Bangladesh, Uganda, India, and Kenya. Other worldwide organisations include the Gates Foundation, which uses public-private funding systems to promote drug accessibility and research and development.
Pneumonia Treatment Industry Definition and Major Segments
Pneumonia is a respiratory infection that causes the air sacs in one or both lungs to become inflamed. The fluids in these air sacs, called alveoli, inflame them, making breathing unpleasant and limiting oxygen intake. Coughing, fever, and chills are some of the symptoms. Viruses, bacteria, and fungus all play a role in the development of pneumonia.
Furthermore, bacterial pneumonia can be spread through coughing and sneezing droplets in the air. It can also be transmitted through the bloodstream. Furthermore, the disease’s severity can range from minor to life-threatening. Pneumonia infection, on the other hand, can be avoided with immunisation, proper nutrition, and addressing environmental variables.
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Based on Product, the market covers:
• Oxygen therapy
The major regional markets include:
• North America
• Latin America
• Middle East and Africa
Pneumonia Treatment Market Trends
The vaccines category is expected to account for a significant market share in the pneumonia treatment industry, based on product. This rise can be attributed to the high expense of drug treatments as well as the rise in antibiotic resistance. Furthermore, research show that pneumococcal vaccinations such as Pneumococcal conjugate vaccine (PCV13) and Pneumococcal polysaccharide vaccine (PPSV23) are effective in preventing pneumonia in children under the age of two and individuals over the age of 65.
North America is estimated to account for a substantial portion of the pneumonia treatment market during the forecast period. This rise can be attributed to a growing awareness of pneumonia in the region. Furthermore, governments are aggressively investing in healthcare infrastructure to reduce pneumonia-related mortality risks, owing to the region’s growing geriatric population, which is more susceptible to such diseases. Moreover, resistance to existing drugs has been reported in people of all ages, necessitating more research and development in pneumonia treatment options in order to find an effective cure for the disease, such as vaccines that can work for many types of pneumonia. These factors are expected to have a significant impact on the industry’s development.
Key Market Players
The major players in the market are Pfizer Inc, Bayer AG, Abbott Laboratories, Novartis AG, GlaxoSmithKline Plc, Lupin Pharmaceuticals, Inc, among others.
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