Influenza Treatment Market Size To Reach $ 1.2 Billion, By 2026
Rising healthcare spending leads to easy availability of influenza drugs, which is fueling the growth of the influenza treatment market
PORTLAND, OR, UNITED STATES, August 19, 2021 /EINPresswire.com/ – According to a new report released by Allied Market Research titled “Influenza Treatment Market by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018-2026”, the market size global influenza treatment was valued at $ 862 million in 2018, and is expected to reach $ 1.2 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
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Influenza drugs are defined as drugs used to treat patients with influenza. Influenza is a viral infection caused by influenza viruses such as type A, type and type B. In addition, the virus is more severe in certain groups of people such as pregnant women, the elderly, young children and people with chronic illnesses. In addition, the infection manifests a wide range of clinical symptoms such as headache, muscle pain, high fever, and vomiting. In addition, severe cases of the flu can also lead to death. Therefore, treatment of the disease is necessary and requires the use of antiviral drugs such as peramivir, zanamivir, oseltamivir phosphate, and baloxavir marboxil.
The increasing incidence of influenza across the world is the major factor which is helping in the growth of the influenza treatment market. In addition, other factors such as increasing healthcare expenditure and increasing R&D investment related to antiviral drugs are driving the growth of the influenza treatment market. For example, in 2018 F. Hoffmann-La Roche AG launched Xofluza (Baloxavir Marboxil) for the treatment of influenza. In addition, Xofluza is the first new influenza drug with a proposed new mechanism of action. Hence, this leads to the availability of a better treatment option for the patients. However, the adoption of influenza vaccines is hampering the growth of the influenza treatment market. Conversely, the high growth potential presented by developing economies due to the awareness related to early detection and treatment of influenza is expected to provide lucrative opportunities for the market during the forecast period.
The influenza treatment market size is studied on the basis of product type, distribution channel, and region to provide detailed assessment. Based on the type of product, it is segmented into peramivir, Zana mivir, oseltamivir phosphate, baloxavir marboxil and others. By distribution channel, it is divided into retail pharmacy, hospital pharmacy and others. By region, it is analyzed in North America (United States, Canada and Mexico), in Europe (Germany, France, United Kingdom, Italy and the rest of Europe), in Asia-Pacific (China, Japan, India and rest of Asia). -Pacific) and LAMEA (Brazil, South Africa and rest of LAMEA).
By product, the market is categorized into is segmented into peramivir, zanamivir, oseltamivir phosphate, baloxavir marboxil, and others. The Others segment gained the largest share of the influenza treatment market in 2018. Besides, the segment is also expected to show the fastest growth during the forecast period. The growth of this segment is attributable to the increasing prevalence of influenza virus infection around the world. Moreover, the awareness of early diagnosis of infection for better treatment is another major reason which is contributing to the growth of the market.
By distribution channel, the influenza treatment market is divided into retail pharmacy, hospital pharmacy, and others. The retail pharmacies segment occupied the largest market share in 2018, due to factors such as the increase in the number of retail pharmacies across the world. Besides, other factors such as awareness related to the use of influenza drugs is another major factor which is helping in the growth of the market. Other factors driving the growth of the market include the increase in the number of retail pharmacies across the world, which facilitates the availability of influenza drugs. On the contrary, the Others segment is expected to experience the fastest growth rate during the forecast period owing to the increase in internet usage across the world, which allows consumers to purchase drugs online.
By region, North America accounted for the major influenza treatment market share in 2018 and is expected to continue this trend, due to the easy availability of influenza treatment. In addition, the soaring incidences of influenza infection is another major reason that is contributing to the growth of this market. However, Asia-Pacific is expected to register the fastest growth rate during the forecast period, due to increased awareness of the use of influenza drugs for the treatment of infections. The ever changing life science industry in Asia Pacific is driving market growth in developing economies such as India, China and Malaysia. . As the constant development leads to an increase in awareness related to the use of influenza treatment.
MAIN FINDINGS OF THE STUDY
• Oseltamivir phosphate occupied more than two-fifths of the global influenza treatment market in 2018.
• The segment of others in the pharmacy segment of the distribution channel is expected to grow with the highest CAGR throughout the forecast period.
• The Others segment by product type represented more than two-fifths of the market in 2018.
• Asia-Pacific is expected to experience the highest growth during the analysis period, followed by LAMEA.
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