LONDON–(BUSINESS WIRE)–May 15, 2020–
The global upper respiratory tract infection treatment market size is expected to grow by USD 1.79 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%.
Technavio has announced its latest market research report titled Global Upper Respiratory Tract Infection Treatment Market 2020-2024 (Graphic: Business Wire)
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Market estimates include pre- and post-COVID-19 impact on the upper respiratory tract infection treatment market –
As the impact of COVID-19 spreads, the global upper respiratory tract infection treatment market is expected to have neutral growth. Consumers are not expected to increase or decrease their consumption neither stock more supplies. However, if the containment efforts go beyond Q2 2020, market outlook may change.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The market is driven by the rising demand for over-the-counter drugs. In addition, the emergence of biologics is anticipated to boost the growth of the upper respiratory tract infection treatment market.
Over-the-counter drugs can be directly purchased from the pharmacy as they do not require a written prescription from a health professional. Cough suppressants, nasal decongestants, and nasal washes are easily available from the pharmacy as over-the-counter drugs. In addition, the increasing availability of over-the-counter drugs for the treatment of upper respiratory tract infection will also promote the practice of self-medication among individuals. The rising demand for over-the-counter drugs is, hence, a significant factor that will fuel upper respiratory tract infection treatment market growth during the forecast period.
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Major Five Upper Respiratory Tract Infection Treatment Companies:
AstraZeneca Plc focuses on the research and development of novel therapies for the treatment of various oncology, cardiovascular, and respiratory indications. The company’s key offerings include SYMBICORT, which is used to control and prevent the symptoms of asthma in adults and children at least 6 years old.
CSL Ltd. has business operations under two segments, such as CSL Behrin and Seqirus. The company’s key offerings include Influenza Virus Vaccine, which is an inactivated influenza virus vaccine indicated for active immunization of persons against viral infections of the respiratory tract.
GlaxoSmithKline Plc operates its business through various segments, such as pharmaceuticals, consumer healthcare, and vaccines. The company’s key offerings include Augmentin, which is a combination drug consisting of amoxicillin and clavulanate potassium for the treatment of bacterial infections.
Merck & Co. Inc. has business operations under various segments, such as pharmaceuticals and animal health. The company’s key offerings include Gefapixant, which is a small molecule antagonist of the P2X3 purinoreceptor and is used to treat chronic cough.
Novartis AG operates its business through two segments, such as innovative medicines, and Sandoz. The company offers Anti-Infectives, which include generic antibiotics, high-quality pharmaceutical intermediates, active pharmaceutical ingredients and finished dosage forms.
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Upper Respiratory Tract Infection Treatment Type Outlook (Revenue, USD billion, 2020-2024)
- Antibiotics
- NSAIDs and nasal decongestants
- Others
Upper Respiratory Tract Infection Treatment Regional Outlook (Revenue, USD billion, 2020-2024)
- North America
- Europe
- Asia
- ROW
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INDUSTRY KEYWORD: HEALTH INFECTIOUS DISEASES
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 05/15/2020 02:00 PM/DISC: 05/15/2020 02:01 PM
Copyright Business Wire 2020.
