Respiratory Virus Infection Drugs Market: Introduction
According to the report, the global respiratory virus infection drugs market was valued over US$ 38.6 Bn in 2019 and is projected to expand at a CAGR of ~7% from 2020 to 2030. The viral respiratory infection affects the upper and lower respiratory tract. The respiratory virus infection is commonly caused by respiratory syncytial viruses, rhinoviruses, parainfluenza viruses, and influenza viruses. The global respiratory virus infection drugs market is driven by investments by key players to develop advanced therapeutics. Moreover, increase in acceptance of combination therapy to boost success rate of respiratory treatment presents significant opportunities to market players. These factors drive the global market.
North America dominated the global respiratory virus infection drugs market in 2019. The trend is anticipated to continue during the forecast period. Strategies adopted by key players, such as product approvals & launch and mergers & acquisitions, well-established healthcare infrastructure, and early adoption of advanced therapeutics boost the growth of the respiratory virus infection drugs treatment market in the region. Asia Pacific is likely to be a highly lucrative market for respiratory virus infection drugs. The market in the region is expected to expand at a high CAGR during the forecast period. China and Japan are likely to create significant opportunities due to the presence of leading players. Japan and China are the largest pharmaceutical markets, which can be attributed to increase in number of product approvals, presence of R&D facilities, and increased focus on managed care, especially among the geriatric population.
Increase in Number of Patients with Respiratory Illnesses to Drive Respiratory Virus Infection Drugs Market
The burden of respiratory illnesses is increasing across the world. According to the World Health Organization, 290,000 to 650,000 people succumb to flu-related complications globally every year. According to the Centers for Disease Control and Prevention (CDC), influenza has resulted in 9 million to 45 million illnesses in the U.S. annually since 2010. During this period, there were between 140,000 and 810,000 hospitalizations and between 12,000 and 61,000 deaths every year. In the U.S., there were 500,000 hospitalizations during influenza season 2016–2017, which increased to nearly 810,000 in season 2017–2018.
Antibiotics to Dominate Respiratory Virus Infection Drugs Market
In terms of drug type, the global respiratory virus infection drugs market has been classified into antibiotics, non-steroidal anti-inflammatory drugs (NSAIDS), cough suppressants, nasal decongestants, and others. Macrolides are a group of antibiotics considered promising treatment option for respiratory viral infections. This is likely to augment the segment.
Respiratory Syncytial Virus (RSV) Infection to Hold Major Share of Respiratory Virus Infection Drugs Market
Based on infection type, the global respiratory virus infection drugs market has been divided into respiratory syncytial virus (RSV) infection, influenza virus infection, parainfluenza virus infection, adenovirus infection, rhinovirus infection, and others. Adults with asthma, congestive heart failure, and COPD are at higher risk of suffering from respiratory syncytial virus infection. Hence, increase in the number of patients with these risk factors is projected to propel the segment.
Oral to be Preferred Route of Administration
In terms of route of administration, the global respiratory virus infection drugs market has been bifurcated into oral and parenteral. The preference of oral route due to better patient compliance, ease of administration, and versatility to accommodate various types of drug is anticipated to boost the growth of segment.
Prescription-based Drugs to Account for Major Market Share
Based on mode of purchase, the global respiratory virus infection drugs market has been categorized into prescription-based drugs and over-the-counter drugs. Increase in awareness about the usage of antibiotics and standard guidelines for prescription antibiotics fuel the growth of the segment.
Hospital Pharmacies to Dominate Respiratory Virus Infection Drugs Market
In terms of distribution channel, the global respiratory virus infection drugs market has been segregated into hospital pharmacies, drug stores, retail pharmacies, clinics, and others. Introduction of newer prescription products and availability of different dosage forms at hospital pharmacies are likely to drive the segment.
North America to be Major Market for Respiratory Virus Infection Drugs
In terms of region, the global respiratory virus infection drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global respiratory virus infection drugs market in 2019, followed by Europe. North America accounted for a major share of the global respiratory virus infection drugs market in 2019. Presence of key players and focus on research & development are key factors projected to propel the respiratory virus infection drugs market in the region. The respiratory virus infection drugs market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. The increase in investment by key players is expected to augment the respiratory virus infection drugs market in the region.
The global respiratory virus infection drugs market is fragmented in terms of number of players. Key players in the global respiratory virus infection drugs market include 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., and Orion Corporation.
Global Respiratory Virus Infection Drugs Market: Segmentation
- Respiratory Virus Infection Drugs Market, by Drug Type
- Non-Steroidal Anti-Inflammatory Drugs (NSAIDS)
- Cough Suppressants
- Nasal Decongestants
- Respiratory Virus Infection Drugs Market, by Infection Type
- Respiratory Syncytial Virus (RSV) Infection
- Influenza Virus Infection
- Parainfluenza Virus Infection
- Adenovirus Infection
- Rhinovirus Infection
- Respiratory Virus Infection Drugs Market, by Route of Administration
- Respiratory Virus Infection Drugs Market, by Mode of Purchase
- Prescription-based Drugs
- Over-the-counter Drugs
- Respiratory Virus Infection Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
- Respiratory Virus Infection Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- North America
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