Wilmington, Delaware, United States, June 02, 2023 (GLOBE NEWSWIRE) -- The global respiratory virus infection drugs market is projected to flourish at a CAGR of nearly 7% from 2022 to 2030. As per the report published by TMR, the global respiratory virus infection drugs market is expected to exceed a value of US$ 82.8 billion by 2030. The market was valued at over US$ 38.6 billion in 2019.
The market size is expected to continue expanding with the ongoing focus on respiratory health and the need for antiviral therapies. Respiratory viral infections are caused by viruses that primarily affect the respiratory system, including the common cold, influenza, respiratory syncytial virus (RSV), and COVID-19.
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The increasing prevalence of respiratory viral infection across the globe and increasing demand for higher therapeutics are expected to propel the respiratory viral infections drug market during the forecast period. Increasing focus on personalized medicine and advances in molecular diagnostics and genomic profiling are expected to boost the respiratory virus infection drugs market
Key Takeaways from the Market Report
- As of 2023, the respiratory virus infection drugs market is forecast to reach US$ 50.9 billion
- Based on infection type, the respiratory syncytial virus (RSV) infection segment is expected to account for the highest market share in 2031.
- Based on distribution channel, the hospital pharmacies segment remains the most favored medical setting in the market
- North America is projected to be the lucrative market for respiratory virus infection drugs market
Respiratory Virus Infection Drugs Market: Prominent Drivers and Trends
- The increasing healthcare expenditure and growing technological advancement in healthcare settings and increased awareness to drive the market growth during the forecast period
- The global respiratory virus infection drugs market has witnessed substantial growth due to the increasing prevalence of respiratory viral infections and the demand for effective treatment options.
- Increasing demand for combination therapy as the number of patients with combination therapy has increased, this offers an opportunity for market expansion.
- Technological innovation and an increase in research & development activities and advancements in the formulation of high therapeutics treatment products accelerate the growth of the market during the forecast period
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Respiratory Virus Infection Drugs Market: Regional Analysis
- North America is expected to lead the respiratory virus infection drugs market due to the presence of major pharmaceutical companies, advanced healthcare infrastructure, and robust research and development activities. The United States is a key market in this region, contributing to a significant share of the market due to the high prevalence of respiratory infections. In recent years, there has been an increased focus on developing antiviral drugs and vaccines for respiratory viruses, particularly during the COVID-19 pandemic.
- Asia Pacific is expected to witness significant growth in the respiratory virus infection drugs market due to factors such as a large population, increasing awareness about respiratory health, and improving healthcare infrastructure. Countries like China, Japan, India, and South Korea have substantial market potential. In recent years, there has been a rising focus on research and development activities related to respiratory virus infections, particularly with the emergence of novel viruses like SARS-CoV-2.
Competitive Landscape
Transparency Market Research has profiled the following players in its global respiratory virus infection drugs market report:
- GlaxoSmithKline Plc.
- Merck & Co., Inc.
- AstraZeneca
- Boehringer Ingelheim International GmbH
- F. Hoffmann-La Roche Ltd.
- Teva Pharmaceutical Industries Ltd.
- Sanofi
- Cipla, Inc.
- CHIESI Farmaceutici S.p.A.
- Orion Corporation
The key respiratory virus infection drugs market players are engaged in regulatory approvals, the launch of new products, and new and strategic collaborations. Some specific developments are as follows:
- AstraZeneca is a global pharmaceutical company that has been actively involved in respiratory research and development. They have worked on the development of antiviral drugs and vaccines for various respiratory viruses, including influenza.
- GSK is a major pharmaceutical company with a focus on respiratory diseases. They have been involved in the development of vaccines and antiviral drugs for respiratory viruses such as influenza and respiratory syncytial virus (RSV).
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Respiratory Virus Infection Drugs Market: Key Segments
Drug Type
- Antibiotics
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
- Cough Suppressants
- Nasal Decongestants
- Others
Infection Type
- Respiratory Syncytial Virus (RSV) Infection
- Influenza Virus Infection
- Parainfluenza Virus Infection
- Adenovirus Infection
- Rhinovirus Infection
- Others
Route of Administration
- Oral
- Parenteral
Mode of Purchase
- Prescription-based Drugs
- Over-the-counter Drugs
Distribution Channel
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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