LONDON--(BUSINESS WIRE)--The global upper respiratory tract infection treatment market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising demand for over-the-counter drugs. The market has witnessed a rising demand for over-the-counter drugs for the treatment of upper respiratory tract infections. Patients with common cold and cough often avoid consulting a healthcare professional as the infection can be self-medicated with over-the-counter drugs. Although, these drugs have increased the practice of self-medication among individuals, thereby driving market growth positively over the forecast period.
As per Technavio, the emergence of biologics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global upper respiratory tract infection treatment market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global upper respiratory tract infection treatment market: Emergence of biologics
Biologics target specific immune cells within a disease process, further increasing drug efficacy and reducing complications. The emergence of biologics to treat upper respiratory tract infections will accelerate market growth. For instance, researchers have found that a biologic therapy known as omalizumab is the most promising therapy for chronic rhinosinusitis. Omalizumab is a recombinant humanized monoclonal antibody that binds to the free-circulating immunoglobulin E. According to researchers, omalizumab may offer therapeutic improvements for both allergic and nonallergic variants of chronic rhinosinusitis with nasal polyposis. Thus, with such advances, the market for upper respiratory tract infection treatment is expected to witness a positive outlook during the forecast period.
“Apart from the emergence of biologics, the market has witnessed an increase in R&D on the drugs to treat upper respiratory tract infections. Developing new drugs to treat upper respiratory tract infections has become necessary due to antibiotic resistance. The company has invested $29.5 million to move its drug for chronic rhinosinusitis, known as LYR-201, into Phase II clinical trials. Thus, such efforts from vendors are expected to boost market growth, during the forecast period,” says a senior analyst at Technavio.
Global upper respiratory tract infection treatment market: Segmentation analysis
This market research report segments the global upper respiratory tract infection treatment market by type (antibiotics, NSA IDs and nasal decongestants, others) and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW respectively. However, during the forecast period, the European region is expected to register the highest incremental growth due to the increase in the prevalence of upper respiratory tract infections.
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Five Forces Analysis
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- Vendors covered
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- Competitive scenario
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