Pneumonia Therapeutics Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Spain, Germany, France, Italy, Japan, China, India, Korea, Australia, Saudi Arabia, UAE, South Africa, Brazil, Chile), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI2029
Pneumonia Therapeutics Market size is mainly driven by surging incidence of pneumococcal disease, growing number of ongoing clinical trials for the development of drug molecules as well as vaccines and growing funding opportunities in R&D of neoteric products. For instance, Bill & Melinda Gates Foundation is envisioned with an aim to address the problem of neonatal pneumococcal disease and promotes the development of new vaccines.
Increasing cognizance of CAP across various regions, escalating bacterial resistance of streptococcus bacteria, and HIV associated pneumonia are few paramount factors driving the pneumonia therapeutics market. According to the national statistics UK, in 2013, five percent of deaths in England and Wales were occurred due to pneumonia and influenza. Lack of new drugs and improper diagnosis of pneumonia conditions are hampering the business growth.
Growing number of drug compositions in the pipeline of major players such as Merck & Co.’s product MK-1986 which is in phase III of clinical trials should fuel business size. Moreover, soaring number of clinical trials to aggrandize the target patient base coupled with the current drug portfolio are few factors boosting the industry growth.
La Caixa Banking Foundation and UNICEF in collaboration with Cannes, designs a pneumonia awareness campaign, with an aim to raise awareness regarding the fight against disease. The epidemic is the sole leading cause of infectious deaths among children across the globe and accounts for up to 16 percent of total under-five mortality. These organizations are investing ponderously to find multifarious therapeutics as well as support the R&D activities by the major industry players.
The vaccines segment captured a preponderant share owing to increased demand for vaccines, attributable to the exorbitant costs of therapies coupled with the deficient insurance coverage. Elevated rate of morbidity and mortality concerning pneumococcal infection and upsurge in number of resistant strains have fairly contributed to the usage of prevention therapy. The segment is envisaged to witness robust growth, due to the sale of generic drugs. Cost-effectiveness of generics and patent expiries of branded drugs coupled with the growing pressure of regulatory bodies are adding to the growth prospects for the pneumonia therapeutics market.
Oxygen therapy segment will also show moderate growth be indebted to the soaring number of random controlled trials. Additionally, the clinical urgency to make use of systems for efficient management which reduce complications, inexorably propels the demand for oxygen therapy.
North America pneumonia therapeutic market reported the largest revenue in 2016, owing to escalating geriatric population, growing multidrug resistance in children and adults and several government initiatives envisioned with an aim to prevent and treat pneumonia are few preeminent factors impelling the business growth. For instance, the Integrated Global Action Plan for pneumonia and diarrhoea by the World Health Organization and UNICEF specifically aims at reducing preventable deaths.
Asia Pacific pneumonia therapeutics market is envisaged to show heightened growth due to surge in the cases of antimicrobial resistance and growing trend of pneumococcal disease. Introduction to vaccination programs to restrain the eminent ubiquity of pneumonia will further widen the growth prospects. For example, Government of India has included pneumococcal vaccines in the Universal Immunization Program.
Key industry players include Pfizer, GlaxoSmithKline and Merck & Co. Companies are focusing upon strategic alliances and innovative product launch to expand their business portfolio as main strategies. In January 2017, Merck & Co. received the FDA approval of KEYTRUDA in Combination along with Chemotherapy for First-Line Treatment of Metastatic Non-Squamous Non-Small Cell Lung Cancer.
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