by Respiratory tract infections affect the lungs and other air passages. Common respiratory tract infections include pneumonia, bronchitis, and the common cold. Treatment of respiratory tract infections involves the use of antibiotics, antitussives, antihistamines, and bronchodilators to relieve symptoms.
The global Respiratory Tract Infection Treatment Market is estimated to be valued at US$ 89.57 Mn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing product innovations is a major trend propelling the growth of the Respiratory Tract Infection Treatment Market. Key players in the market are increasingly focusing on developing novel drug delivery systems and combination therapies to improve treatment outcomes for respiratory tract infections. For instance, in 2021, AstraZeneca received FDA approval for a new inhaled formulation of roflumilast for chronic obstructive pulmonary disease (COPD). This novel drug delivery approach helps deliver higher concentrations of the drug directly to the lungs. Similarly, Cipla received FDA approval for a fixed dose combination tablet of azithromycin and aerius syrup for acute infection treatment. Such combination therapies help lower healthcare costs and improve patient compliance by reducing dosage frequency. Product pipeline enrichment and clinical trial approvals are expected to further augment the respiratory tract infection treatment market during the forecast period.
SWOT Analysis
Strength: The respiratory tract infection treatment market has strong presence of key players with wide product portfolio. Advancement in treatment technologies is also a strength for the market.
Weakness: High cost of treatment and lack of awareness in low and middle income countries are some weaknesses.
Opportunity: Increasing healthcare expenditure and research funding provide growth opportunities. Rising cases of respiratory infections due to changing environments also present opportunities.
Threats: Expiration of drug patents and entry of generic drugs pose threat. Stringent regulations for product approval can also threaten market growth.
Key Takeaways
The Global Respiratory Tract Infection Treatment Market is expected to witness high growth during the forecast period of 2023-2030. The market size for 2023 was USD 89.57 Mn and is anticipated to grow at a CAGR of 7.5% during the forecast period.
Regional analysis
North America region currently dominates the market with the largest share. This can be attributed to developed healthcare infrastructure and supportive reimbursement policies. Asia Pacific region is expected to witness fastest growth owing to rising healthcare expenditure, large patient pool and growing awareness about treatment options.
Key players
Key players operating in the respiratory tract infection treatment market are F. Hoffmann-La Roche Ltd. (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Johnson & Johnson Private Limited (U.S.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Abbott (U.S.), Hikma Pharmaceuticals PLC (U.K.), Allergan (Ireland), Eli Lilly and Company (U.S.), Aurobindo Pharma (India), Lupin (India), SHIONOGI & Co., Ltd. (Japan), AbbVie Inc. (U.S.).
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
