New York, USA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global pneumonia therapeutics market is estimated to generate a revenue of $3,147.7 million and grow at 8.2% CAGR during the 2020-2027 forecast period. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time market size has evidently increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $1,817.1 million in 2020, while its estimations were $1,783.1 million in the pre-pandemic scenario. Increasing cases of pneumonia across the globe along with government’s increasing initiatives to facilitate advanced healthcare facilities are the major factors anticipated to drive the growth of the global pneumonia therapeutics market during the forecast period. Moreover, rising geriatric population worldwide and R&D activities by key market players are also expected to boost the market development by 2027.
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Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global pneumonia therapeutics market is predicted to grow at a CAGR of 8.2% during the analysis timeframe, while it was anticipated to grow at 7.8% CAGR in the pre-pandemic scenario from 2020-2027. Most of the covid-19 cases across the world were treated with medications used for treating pneumonia because corona virus, just like pneumonia, affects the lungs adversely and the medication of covid-19 is not yet discovered. These factors are projected to bolster the market’s growth during the analysis timeframe.
Post Pandemic Insights
As per the report, the global pneumonia therapeutics market is estimated to prosper exponentially in the upcoming years mainly due to increasing cases of transmitted diseases and growing geriatric population with weak immune system. In addition, increasing research and development activities by key market players in the development of medications and therapeutic agents is also anticipated to bolster the market growth during the 2020-2027 timeframe. For instance, the King of Prussia biopharma firm’s pneumonia drug ‘Nabriva’ recently got marketing approval from the European government for the treatment of community-acquired pneumonia in adults.
Key Market Players
Some key pneumonia therapeutics market players include
- Bayer
- Cipla
- Abbott
- Mylan
- GlaxoSmithKline
- Novartis
- Lupin Pharmaceuticals
- Merck
- Sanofi
- Allergan
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in August 2021, Eagle Pharmaceuticals, a specialty pharmaceutical company, announced its collaboration with a Switzerland-based clinical-stage biotech company Combioxin, to get marketing approval of CAL02, a new antitoxin agent that treats severe pneumonia. The drug CAL02 can potentially neutralize virulence effectors and other bacterial toxins in the pneumonia-affected patients.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about Pneumonia Therapeutics Market:
Pneumonia Therapeutics: Symptoms, Risks, and Treatment Procedures
