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iCrowdNewswire Sep 2, 2020 2:00 PM ET

Pneumonia Therapeutics Market to witness Significant Growth and Reach Worth 2.8 Billion by 2026

Pneumonia Therapeutics Market to witness Significant Growth and Reach Worth 2.8 Billion by 2026

iCrowd Newswire - Sep 2, 2020

The Global PneumoniaTherapeutics Market worth is expected to reach USD 2.84 billion by 2026 from USD 1.7 billion in 2019 at a CAGR of 7.60% during the projection period. The worldwide pneumonia therapeutics market is advancing due to the harmful effects of air pollution and rising geriatric populace across the world. Besides, numerous environmental wastes, including chemicals, catalyze the development of fungi, viruses, and bacteria leading to pneumonia. Moreover, the extensive R & D activities for new drugs and diagnostics by the major companies and critical unmet need for pneumonia remedies propel the market for pneumonia therapeutics.

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Pneumonia is a seditious disorder that disturbs the air sacs or alveoli in the lungs and may add lead to fever, dry cough, chest pain, breathing trouble, etc. It is usually caused by germs and bacteria and mostly disturbs the person already affected by cold and flu. It can be detected with the help of blood tests, X-rays, physical examinations, etc. Vaccination helps avoid pneumonia, whereas patients with critical situations, patients need to be hospitalized and help with oxygen therapy. Generally, antibiotics like quinolones, macrolides, etc. are used for treating pneumonia.

Global Pneumonia Therapeutics Market is segmented on Drug Class (Antibacterial, Antiviral, and Antifungal), Age Group (Pediatric, Adult, and Geriatric), Infection Type (Hospital-acquired Pneumonia [HAP], Community-acquired Pneumonia [CAP], and Ventilator-associated Pneumonia [VAP]), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies).

In Drug Class, the Antiviral drugs segment is anticipated to witness substantial CAGR during the forecast period due to increasing viral pneumonia which spreads from the fluid present in the air dews after distinct coughs or sneezes. Various remedial options, including Oseltamivir and Acyclovir, are available to give the antiviral treatment and diminish the severity of flu viruses into the body. These options are expected to induce market growth because of widespread common flu.

The rising air pollution combined and environmental wastes proliferate pneumonia-causing bacteria, fungi and virus, leading to more occurrence of the disease. Apart from that, the geriatric population, which already accounts for 20% market share, is also increasing. Also, the geriatric population base has more chances of getting affected by flu and other lung-related disorders that sometimes grow into pneumonia.

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The markets in North America and Europe hold the dominant share and, are expected to maintain it with significant CAGR due to a well-developed healthcare system, increasing occurrences of community-acquired pneumonia, and the presence of major players in the region. The pharma companies in this region have a strong market presence in various locations.

Asia Pacific Pneumonia Therapeutics segment secured a substantial revenue share of 34% in 2019 and is expected to witness the highest CAGR during the forthcoming period on account of increasing government spending and expansion of operations by global market players in this region.

“The leading players” operating in the market are Global Pneumonia Therapeutics Market are Abbott Laboratories, Allergan, AstraZeneca, Bayer, Cipla, GlaxoSmithKline, Lupin Pharmaceuticals, Merck, Mylan, Novartis, Pfizer, Sanofi, and other prominent players.

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Keywords:    Pneumonia Therapeutics Market

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