Global Upper Respiratory Tract Disease Treatment Market 2023-2030

Global Upper Respiratory Tract Disease Treatment Market 2023-2030

Global Upper Respiratory Tract Disease Treatment Market Size, Share & Trends Analysis Report by Category (OTC and Prescription), by treatment (topical treatment, cough suppressant, nasal decongestant and other), and by drug class (NSAID, antibiotics and others), Forecast Period (2023-2030)

The global upper respiratory tract disease treatment market is anticipated to grow at a CAGR of 3.6% during the forecast period (2023-2030). upper respiratory tract infection (URTI) is an illness, which is the result of an acute infection involving a person’s upper respiratory tract like the nose, sinuses, pharynx, or larynx. The infection commonly includes nasal obstruction, sore throat, tonsillitis, pharyngitis, laryngitis, otitis media, and the common cold. This can be treated using various drugs, targeting disease-causing pathogens like bacteria and viruses. Increasing number of Adults with asthma, congestive heart failure, and COPD are at higher risk of suffering from respiratory syncytial virus infection lead to the growth of the market. According to a study of plos computing biology US, URTD caused by a variety of bacteria and viruses, and the infection can vary from a mild cold to life-threatening pneumonia. Being one of the most common diseases, the global burden of URTI in 2019 is estimated to be 17.2 billion. Although a majority of individuals contracting URTIs present mild symptoms, the estimated economic burden of non-influenza related viral URTIs in the United States alone is estimated to be 22.5 billion USD and an estimated $2 billion is spent on over-the-counter treatments for URTIs.

Segmental Outlook

The global upper respiratory tract disease treatment market is segmented on the category, treatment, and drug class. Based on the category, the market is sub-segmented into OTC and Prescription. Based on the treatment, the market is sub-segmented into topical treatment, cough suppressant, nasal decongestant and other. Further, on the basis of drug class, the market is sub-segmented into NSAID, antibiotics and others. Among the category, the OTC sub-segment is anticipated to hold a considerable share of the market owing to its easy availability without any prescription and it is effective in treating

Inflectional or bacterial diseases. Also increase in the home visits by physicians due to upper respiratory tract infections and escalating demand for over the counter medicines to treat these infections.

The Antibiotic Sub-Segment is Anticipated to Hold a Considerable Share of the Global Upper Respiratory Tract Disease Treatment Market

Among the drug class, the antibiotic sub-segment is expected to hold a considerable share of the global upper respiratory tract disease market. The segmental growth is attributed to the growing cases of upper respiratory tract disease and lack of availability and affordability of doctors and proper medical prescription in many countries such as Africa, Sri Lanka, and Pakistan. Which lead to increase in demand for antibiotics owing to its easy availability of antibiotics to treat upper respiratory tract infections and their symptoms will drive the upper respiratory tract infection treatment market.

Regional Outlook

The global Upper Respiratory Tract Disease Treatment market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia pacific is anticipated to hold a prominent share of the market across the globe, owing to rise in demand due to increasing case of bacterial and viral diseases in the countries like china, India and Indonesia.

The North America Region is Expected to Grow at a Significant CAGR in the Global Upper Respiratory Tract Disease Treatment Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to increasing prevalence of upper respiratory tract infections in the region due to sudden climate changes and increasing consumption of cigarette. Owing to Increase in demand for Cough suppressants, nasal decongestants, and nasal washes. According to a report of national library of medicine US, in September 2022, chronic diseases associated with cigarette smoking include respiratory and cardiovascular diseases, cancers, and diabetes. An estimated 16 million US adults live with a smoking-related disease. Cigarette smoking can increase the risk of chronic disease and subsequent complications and can lead to overall reduced quality of life.

Hence, there is considerable shift of the country towards the adoption of the Upper Respiratory Tract Disease Treatment market solutions. The growing awareness regarding the treatment and the rising disposable income, especially in emerging economies, are expected to drive the industry growth.

Market Players Outlook

The major companies serving the upper respiratory tract disease treatment market include AbbVie Inc., GlaxoSmithKline plc, Johnson & Johnson Pvt. Ltd., Merck & Co., Inc., Novartis AG, Takeda Pharmaceutical Company Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, Pfizer Inc. and ReViral Ltd. announced that the two companies have entered into a binding agreement under which Pfizer will acquire ReViral. ReViral is a clinical-stage biopharmaceutical company with a focus on finding, developing, and commercializing novel antiviral therapeutics that target respiratory syncytial virus (RSV).

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global upper respiratory tract disease treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.