increase in healthcare expenditure worldwide & surge in R&D investments for discovery of new drugs have propelled the growth of the influenza treatment market.
PORTLAND, OR, UNITED STATES, September 29, 2021 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Influenza Treatment Market by Product Type (Peramivir, Zanamivir, Oseltamivir Phosphate, Baloxavir Marboxil, and Others) and Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Others), Global Opportunity Analysis and Industry Forecast, 2019–2026”. According to the report, the global influenza treatment industry was pegged at $861.5 million in 2018, and is projected to hit $1.22 billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026.
Major drivers for the market growth
Increase in incidences of influenza across the globe, rise in healthcare expenditure worldwide, and rise in R&D investments for discovery of new drugs have boosted the growth of the global influenza treatment market. However, presence of substitutes for the treatment of influenza hamper the market growth. On the contrary, high growth potential in developing countries is expected to create lucrative opportunities in the near future.
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Oseltamivir Phosphate segment dominated the market
Based on type, the oseltamivir phosphate segment held the largest share in 2018, accounting for more than two-fifths of the global influenza treatment market. Oseltamivir is recommended by CDC and the American Academy of Pediatrics (AAP) for early treatment of flu in people of any age, which prpells the growth of the segment. However, the baloxavir marboxil segment is projected to manifest the highest CAGR of 4.6% during the forecast period. Baloxavir marboxil drug is effective against strains of influenza A that are resistant to oseltamivir. Thus, this makes it a preferred choice in treatment if influenza, hence boosting the growth of the segment.
The retail pharmacy segment to manifest CAGR through 2026
Based on distribution channel, the retail pharmacy segment is projected to register the highest CAGR of 4.7% during the forecast period. In addition, the same segment held the largest share in 2018, accounting for nearly half of the global influenza treatment market. This is owing to the strong presence of retail pharmacies around the globe and convenience offered by them. The research also analyzes segments including hospital pharmacy and others.
North America held the lion’s share
The market across North America held the largest share in 2018, contributing to around one-third of the market. This is owing to surge in prevalence of influenza infection in the region. However, the global influenza treatment market across Asia-Pacific is estimated to portray the fastest CAGR of 5.6% during the forecast period. This is due to surge in the awareness towards early diagnosis of the medical condition for better treatment surge in the awareness towards early diagnosis of the medical condition for better treatment.
Major market players
BioCryst Pharmaceuticals, Inc.
Daiichi Sankyo Company Limited
F. Hoffmann-La Roche AG
Natco Pharma Limited
Teva Pharmaceutical Industries Limited
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