Global Influenza Treatment Market Size, Share, Forecast Report, 2020-2027
The global influenza treatment market size accounted for $861.50 million in 2018, and is expected to reach $1,225.20 million by 2026, registering a CAGR of 4.5% from 2019 to 2026.
Influenza is commonly known as flu and is a contagious respiratory infection, which is caused by influenza viruses. Furthermore, the virus is classified into Type A, B, C, and D. The most common types of influenza virus responsible for seasonal flu each year are Type A and B. Moreover, these viruses attack respiratory system of an individual and are transmitted to other individual by direct contact or inhalation of virus laden aerosols. The major symptoms of the disease include sore throat, fatigue, muscle ache, vomiting, and diarrhea. In addition, it can worsen long-term medical conditions like congestive heart failure, asthma, or diabetes which, in turn, can lead to serious complications. Therefore, influenza infections are treated in time using various types of anti-viral drugs such as Peramivir and Zanamivir.
The major factor that contribute to the growth of the influenza treatment market include rise in incidences of influenza across the globe. Furthermore, other factors such as surge in healthcare expenditure, and rise in R&D investments related to anti-viral drugs further boost the influenza treatment market growth. For instance, in 2018, F. Hoffmann-La Roche AG launched Xofluza (Baloxavir Marboxil) for the treatment of influenza. Furthermore, Xofluza is the first new flu medicine with a novel proposed mechanism of action. Therefore, this leads to availability of better treatment option for the patients. However, adoption of influenza vaccines hampers the growth of the influenza treatment market. Conversely, high growth potential exhibited by developing economies such as India and China having a large population base and notable epidemiology of influenza infection is expected to offer lucrative opportunities for the market during the forecast period.
INFLUENZA TREATMENT MARKET SEGMENTATION
The influenza treatment market size is studied on the basis of product type, distribution channel, and region to provide a detailed assessment. On the basis of product type, it is segmented into Peramivir, Zanamivir, Oseltamivir Phosphate, Baloxavir Marboxil, and others. By distribution channel, it is bifurcated into retail pharmacy, hospital pharmacy, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
Segment Review
By product, the market is classified into is segmented into Peramivir, Zanamivir, Oseltamivir Phosphate, Baloxavir Marboxil, and others. The others segment acquired the largest share of the influenza treatment market in 2018. Furthermore, the segment is also anticipated to exhibit fastest growth during the forecast period. The growth of this segment is attributable to surge in prevalence of influenza virus infection across the globe. Furthermore, rise in awareness related to early diagnosis of the infection for better treatment is another major reason that contributes to the growth of the market.
By distribution channel, the influenza treatment market is divided into retail pharmacy, hospital pharmacy, and others. The retail pharmacy segment occupied the largest market share in 2018, owing to factors such as rise in number of retail pharmacies across the globe. In addition, other factors such as rise in awareness related to use of influenza drugs is another major factor that contributes to the growth of the market. The other factors which boost the growth of the market include surge in the number of retail pharmacies across the globe which lead to easy availability of influenza drugs. On the contrary, the others segment is expected to witness the fastest growth rate during the forecast period due to surge in use of internet across the globe, which allows consumers to buy drugs online.
By region, North America accounted for the major influenza treatment market share in 2018, and is expected to continue this trend, owing to easy availability of influenza treatment. Moreover, surge in incidences of influenza infection is another major reason that contributes to the growth of this market. Moreover, surge in the awareness towards early diagnosis of the medical condition for better treatment is another major factor that contributes to the growth of the market. However, Asia-Pacific is estimated to register the fastest growth rate during the forecast period, owing to increase in awareness regarding the use of influenza drugs for the treatment of infection. Moreover, increase in healthcare expenditure and surge in awards related to use of influenza treatment is another major factor that boosts the growth of the influenza treatment market. In addition, presence of key players in these regions also fuels the growth of the influenza treatment in Asia-Pacific. In addition, the constantly evolving life science industry in Asia-Pacific drives the growth of the market in developing economies such as India, China, and Malaysia.
The global influenza treatment market is highly competitive and prominent players in the market have adopted various strategies to garner maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include AstraZeneca Plc, BioCryst Pharmaceuticals, Inc., Daiichi Sankyo Company, Limited, F. Hoffmann-La Roche AG, GlaxoSmithKline Plc, Mylan N.V, Natco Pharma Limited, Novartis AG, Sanofi, and Teva Pharmaceutical Industries Limited.
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