Pneumonia is referred to as inflammatory, diseased condition of the lungs, which affects the alveoli of the lungs. Symptoms of pneumonia include chest pain, dry cough, trouble in breathing, and fever. Acquired pneumonia and health care-associated pneumonia are two types of pneumonia. Pneumonia affects over 450 million people across the globe and results in four million deaths every year. The global pneumonia therapeutics market is projected to expand at a significant pace during the forecast period, due to increase in the number of cases of pneumonia and advancement in treatments. Moreover, growing awareness about pneumonia treatment among patients, rising demand for treatment, increasing incidence of pneumonia, and improvement in diagnosis methods are promoting the growth of the global pneumonia therapeutics market.
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Currently, the pneumonia therapeutics market is witnessing extensive research and development activities and a significant number of new product launches. This encourages manufacturers to cater to the increasing demand from customers. The global pneumonia therapeutics market is consolidated, with the top players such as Sanofi, Eli Lilly, AstraZeneca, Merck & Co. Novartis, GlaxoSmithCline, Pfizer, and Baxter International Inc. accounting for a major share of the market. Most of the companies are taking considerable research efforts toward development of novel drugs and diagnostic techniques and offering substantial support in terms of funding. This has fueled the market. Furthermore, significant unmet needs for curative treatment of pneumonia are likely to drive the market. The pneumonia therapeutics market in developing economies in Asia is likely to expand, as the prevalence of pneumonia is higher in these countries. Pneumonia-related fatalities in children are mostly preventable through proper education and awareness and timely treatment. Thus, rising awareness about treating pneumonia in children could be a growth opportunity for manufacturers of pneumonia drugs. Rapid urbanization, risen levels of air pollution, changes in lifestyle, and increased smoking population have resulted in high occurrence of asthma and pneumonia in people staying in urban areas, thereby fueling the global pneumonia therapeutics market.
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The global pneumonia therapeutics market can be segmented based on therapeutics, distribution channel, and region. Based on therapeutics, the market has been classified into prevention vaccines and treatment drugs. Usually, treatment drugs include antibiotics such as penicillin, cephalosporins, fluoroquinolones, tetracyclines, amoxicillin, vancomycin, and clavulanic acid. Penicillin was widely used to treat pneumonia caused by the bacterium Pneumococcal pneumonia. However, wide use of a broad spectrum of antibiotics has resulted in significant drug resistance. Penicillin is still used, but only after confirming the sensitivity of the bacterium toward this antibiotic. Vaccination is also preferred to prevent viral and certain bacterial pneumonias, both in adults and children. The Center for Disease Control and Prevention (CDC) recommends that every adult be vaccinated once a year. Based on distribution channel, the pneumonia therapeutics market can be divided into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment holds a major market share and is likely to sustain its leading position throughout the forecast period.
Based on geography, the global pneumonia therapeutics market has been segmented into five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominates the global market and the trend is expected to continue during the forecast period. This is attributable to rising awareness about pneumonia and costly pneumonia management. Asia Pacific is expected to hold the second-largest share of the global pneumonia therapeutics market during the forecast period, due to high incidence of pneumonia in countries such as China and India. China is estimated to account for a leading share of the pneumonia therapeutics market in Asia Pacific from 2017 to 2025, owing to factors such as improvement in the diagnosis rate, rapidly aging population, and high levels of pollution.
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The number of players operating in the global pneumonia therapeutics market is limited; however, several companies are interested to invest in the market, due to increasing demand for pneumonia therapeutic products. Major players operating in the global pneumonia therapeutics market include GlaxoSmithKline plc., Merck & Co. Inc., and Novartis AG., Sanofi, and Eli Lilly and Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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