The global pneumonia therapeutics market registered a revenue of nearly $1,661.6 million in 2019, and is anticipated to grow at 8.2% CAGR, surpassing $3,147.7 million by 2027.
The pneumonia therapeutics market is predicted to have a positive impact due to the pandemic. Increasing cases of pneumonia across the globe is predicted to drive the market in the forecast period. On the other hand, limited accessibility to the treatment is predicted to hinder the market in the forecast period.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|7.8%||8.2%||40||USD 1,783.1 Million||USD 1,817.1 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
Rising prevalence of pneumonia across the globe is predicted to drive the market in estimated period. Moreover, the government taking initiative for healthcare sector in order to facilitate advanced healthcare facilities is predicted to be the major driving factor for the market in the projected timeframe. In addition, increase in the geriatric population across the globe and rise in the research and development by most of the manufacturers across the globe is predicted to boost the pneumonia therapeutics market in the estimated timeframe.
Patients mostly fail to flag the symptoms of pneumonia and seek help in a much later stage of the disease. Moreover, despite the detection and knowledge of pneumonia, many healthcare institutions are not well equipped with instruments and medication to treat pneumonia. Lack of awareness and limited accessibility to treat the diseases is predicted to hinder the pneumonia therapeutics market growth in the forecast period. On the other hand, constant research and development by majority of the companies is predicted to create more investment opportunities in the market during the projected period.
The pneumonia therapeutics market is expected to witness a positive impact due to the pandemic. The novel coronavirus, much like pneumonia, affects the lungs adversely. Moreover, the medication for the coronavirus is not yet discovered. Medication used for treating pneumonia is being used to treat coronavirus patients. Increasing cases of coronavirus patients is predicted to drive the pneumonia therapeutics market during the pandemic. Moreover, increasing number of ongoing clinical trials for development of vaccines and drugs is predicted to drive the market in the forecast period.
Government initiatives and major companies investing more on developing vaccines for treating COVID-19 infected patients are predicted to be the major driving factor for the market in the estimated period. For instance, BioAegis therapeutics has recently received approval to proceed with phase 2 trial of its gelsolin COVID-19 Treatment. Gelsolin is a key component of the body’s immune system. BioAegis is in a unique position to deliver therapeutics that have the potential to disrupt the course of the cytokine storm created by COVID-19.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
Increasing cases of transmitted diseases is predicted to drive the market in the forecast period. Moreover, elderly population have a weak immune system and are prone to get pneumonia at and suffer from many other diseases such as diabetes and heart diseases. The incidence and prevalence of pneumonia in elderly population is four times higher than that of younger population. Increase in the elderly population is predicted to drive the pneumonia therapeutics market in the estimated timeframe.
Less awareness about the pneumonia therapeutics among the population is predicted to hinder the market growth in the estimated timeframe. Increasing research and development by majority of the company is predicted to create more investment opportunity in the forecast period. For instance, King of Prussia biopharma firm's pneumonia drug won European approval. The European commission on Tuesday granted marketing approval to Nabriva therapeutics' treatment for community-acquired pneumonia in adults.
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- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Pneumonia Therapeutics Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity