The Global Respiratory Tract Infection Treatment Market, by Drug Class (Antibiotics, Non-Steroidal Anti-Inflammatory Drug (NSAIDS), Cough Suppressant, Nasal Decongestant, and Others), by Disease Indication (Upper Respiratory Tract Infection and Lower Respiratory Tract Infection), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 35.64 Bn in 2017, and is projected to exhibit a CAGR of 6.5% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.
Respiratory tract infection treatment market is expected to exhibit exponential growth over the forecast period due to rising pollution which in turn increasing the cases of respiratory tract infection. According to a National Center for Biotechnology Information (NCBI), 2013 in the U.S., 25% people are suffering from upper respiratory tract infection due to pollution and it is the most common reason for patients to visit the doctors.
Various research organizations are developing novel lung therapies for the treatment of critically ill patients with acute respiratory distress syndrome (ARDS). For instance, scientists at Draper Laboratory are using unique manufacturing techniques and chip technology to precisely mimic blood vessels in the lungs, to treat patients with lung failure.
Moreover, asthma is one of the prime conditions leading to respiratory diseases, which are characterized by recurring attacks of panting and wheezing. The severity and frequency of asthma varies according to individual.
According to the Center for Disease Control and Prevention (CDC), in 2015, 25 million people (1 in 13) in the U.S. were suffering from asthma. Furthermore, 6.2 million people below the age of 18 years suffered from asthma.
Browse 25 Market Data Tables and 22 Figures spread through 157 Pages and in-depth TOC on "Respiratory Tract Infection Treatment Market, by Drug Class (Antibiotics, Non-Steroidal Anti-Inflammatory Drug (NSAIDS), Cough Suppressant, Nasal Decongestant, and Others), by Disease Indication (Upper Respiratory Tract Infection and Lower Respiratory Tract Infection), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"
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Strategies of vendors to implement new schemes and reimbursement rate for respiratory diseases attract the patients to undergo treatment, thereby propelling the respiratory tract infection treatment market growth.
As per the data from GlaxoSmithKline (GSK) Australia, Trelegy Ellipta (single inhaler triple therapy for COPD) will be reimbursed by the Pharmaceutical Benefits Scheme (PBS) for suitable adults in Australia suffering from moderate to severe chronic obstructive pulmonary diseases (COPD) from June 1, 2018.
Increasing approval of new drugs by the Food and Drug Administration (FDA) is also expected to propel the overall market growth during the forecast period. For instance, in November 2017, US FDA approved Fasenra (Benralizumab) manufacture by AstraZeneca, a respiratory biologic for the patients with severe asthma aged 12 years and older, and with an eosinophilic phenotype.
Furthermore, in November 2017, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) are looking forward to recommend the marketing authorization of Benralizumab. Benralizumab is also under regulatory review in Japan and several other countries.
Key Takeaways of the Respiratory Tract Infection Treatment Market:
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