April 12, 2024
Respiratory Tract Infection Treatment Market

Respiratory Tract Infection Treatment market to Witness Steady Growth Owing to Rising Pollution Levels

The respiratory tract infection treatment market consists of drugs and medicines that help in treating various respiratory tract infections (RTIs) such as pneumonia, bronchitis, tuberculosis, and other infections affecting the upper and lower respiratory systems. Common RTI treatment options include antibiotics, cough syrups, analgesics, chest rubs, nasal drops and sprays, inhalers, and respiratory physiotherapy. Respiratory tract infections pose a serious health risk and are among the top causes of death globally. Rising pollution levels have increased the risk of respiratory illnesses significantly.

The global respiratory tract infection treatment market is estimated to be valued at US$ 103.19 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the respiratory tract infection treatment market are Abbott Laboratories, AstraZeneca, Plc, Abbvie Inc., Boehringer Ingelheim GmbH, Cipla Pharmaceutical Company, GlaxoSmithKline plc, Pfizer Inc., Merck & Co., Novartis AG, F. Hoffman La Roche Ltd, Sanofi, and Teva Pharmaceutical Industries Ltd.

The key opportunities in the market include rising awareness about prevention and treatment of respiratory illnesses, growing focus on development of combination therapies, and increasing penetration in developing regions.

North America dominated the global market owing to the high prevalence of chronic respiratory diseases. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to the expanding healthcare infrastructure, rising healthcare spending, and growing geriatric population in countries such as China and India.

Market drivers

The increasing pollution levels around the world have led to a significant rise in respiratory diseases. Pollutionexposed individuals are at higher risk of contracting RTIs such as pneumonia and bronchitis. According to the World Health Organization, 9 out of 10 people worldwide breathe air containing high levels of pollutants. Rising pollution is a major driver of the Respiratory Tract Infection Treatment Market Demand.

PEST Analysis

Political: Governments are increasing healthcare spending to provide better treatment options for respiratory tract infections. Some countries are also working on introducing generic drugs to make treatment more affordable.

Economic: Greater penetration of health insurance is enhancing access to Respiratory tract infection treatment drugs and services. Rising incomes are positively impacting demand. However, changing regulatory policies can impact revenues of pharmaceutical companies.

Social: Growing public awareness is encouraging people to seek timely medical help for respiratory issues. The risk of COVID-19 infections has also boosted focus on respiratory health. However, social stigma still discourages some from openly discussing respiratory illnesses.

Technological: Companies are investing in R&D to develop innovative drugs with higher efficacy, less side effects and new drug delivery mechanisms. There is also progress in diagnostic technologies to enable early detection. Advancements in mobile healthcare are expanding access in rural areas.

The market in terms of value is concentrated majorly in developed countries like the United States, Germany, the United Kingdom and Japan. This is because of higher healthcare spending and widespread health insurance in these nations.

The Asia Pacific region excluding Japan is emerging as the fastest growing market for respiratory tract infection treatment. Factors pushing growth include rising affordability, growing medical tourism industry and increasing sales of generic drugs in countries like India, China and South Korea.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it