Influenza Treatment Market Size, Share & Trends Analysis Report By Treatment (Peramivir, Zanamivir, Baloxavir Marboxil, Oseltamivir Phosphate), By Route Of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030
Influenza Treatment Market Growth & Trends
The global influenza treatment market is expected to reach USD 6.44 billion by 2030, expanding at a CAGR of 1.18% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth of the market is attributed to the rising prevalence of influenza aided by the rising need for efficient therapeutics to treat the condition. Furthermore, key players are constantly focusing on developing novel therapeutics to meet the rising demand for precise medication with constant initiative by the FDA for approval of influenza treatment drugs. As a result of which, the constant demand for treatment globally is fueling the growth of the overall market.
Additionally, the rising prevalence of seasonal flu and respiratory diseases has boosted the demand for novel therapeutics. According to CDC, it is estimated that the burden of flu in the U.S. had resulted in 9 million -41 million illnesses, 140,000 – 710,000 hospitalizations, and 12,000 – 52,000 deaths yearly between 2010 and 2020. Similarly, according to preliminary results around 9 million individuals had symptomatic illnesses, and approximately 4 million medical visits, 100,000 hospitalizations, and 5 thousand deaths were reported from 2021 to 2022.
The market growth is expected to be driven by the increasing approval and upcoming commercialization of innovative medications for viral infections. For instance, in August 2022, Roche announced the U.S. FDA approval for Xofluza (baloxavir marboxil), used for the treatment of acute influenza in children aged 5 to 12 years who have been symptomatic for 48 hours. Additionally, prominent players in the industry have introduced several novel medicines for viral infections within the span of 2 to 3 years propelling the need for the development of novel medication by other small players operating in the market in order to generate significant revenue share.
Moreover, the COVID-19 pandemic has significantly boosted the growth of the market. During the pandemic, the demand for broad-spectrum antiviral drugs to combat the novel coronavirus has surged due to the need to manage the disease effectively. Medications like Remdesivir, favipiravir, oseltamivir, and various combination therapies have become widely prescribed for treating COVID-19. Additionally, governments are allocating greater funding to pharmaceutical companies to expedite the development of novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government announced an investment of over USD 3 billion to accelerate the discovery, manufacturing, and development of antiviral medicines. As the incidence of the disease continues to rise and research and development efforts intensify, the demand for antiviral drugs is expected to increase in the next 2 to 3 years.
Furthermore, the key participants are engaged in various strategies such as product launches, partnerships & collaborations, and mergers & acquisitions, to expand their global footprints and maintain their competitive position in the influenza treatment market. For instance, in November 2020, Shionogi’s XOFLUZA (Baloxavir Marboxil) received FDA approval for the prevention of influenza. Similarly, in February 2021, FDA expanded the approval of Rapivab which is a peramivir injection, a product of BioCryst Pharmaceuticals. The product is extensively used for treating acute uncomplicated influenza in 6 months of age & older patients who have been symptomatic for 2 days.
Influenza Treatment Market Report Highlights
- Based on treatment, the oseltamivir phosphate segment held the largest revenue share in 2023 in the market owing to the rising prevalence of influenza leading to increasing prescription of oseltamivir phosphate
- Based on route of administration, the oral segment dominated the market with a revenue share in 2023 attributed to the increased adoption of oral drug products due to their ease of administration
- On the basis of distribution channel, the hospital pharmacy segment dominated the market in 2023 due to the rising hospitalization and use of hospital pharmacies for medication
- North America held the largest share in 2023 owing to the presence of well-established players, the rising prevalence of seasonal flu, and an increased hospitalization due to the condition
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