Research Nester published a report titled “Pharyngitis Treatment Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global pharyngitis treatment market in terms of market segmentation by treatment, route of administration, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global pharyngitis treatment market was valued at USD 2.1 Bn. in 2022 and the total Pharyngitis Treatment revenue is expected to grow at 4.4% CAGR over the forecast period, i.e., 2022-2030. The market is segmented on the basis of route of administration into oral, intravenous, and others, out of which, the oral segment is estimated to garner the largest share in the market throughout the forecast period. this can be attributed to the ease of consumption of orally taken drugs. Moreover, no expert is required for it, which makes if easy and accessible. On the basis of end-user, the market is segmented into pharmacy, hospitals, and others, out of which, the pharmacy segment is estimated to garner significant share during the forecast period on the back of the easy accessibility of pharmacies, along with affordable prices of over-the-counter drugs.
The global pharyngitis treatment market is anticipated to grow on the back of rising prevalence of pharyngitis causing diseases, such as, measles, whooping cough, and chickenpox, among others. Moreover, the increasing vaccination drive for measles, and other diseases is estimated to further impact the market growth. According to a report by World Health Organization (WHO), in 2018, around 86% of the global children population had received measles vaccines. Pharyngitis is caused by bacterial infection in pharynx, which is located at the back of throat. This causes swelling and pain in throat, difficulty in swallowing and speaking, and fever. The growing demand for treatment to relieve these symptoms, is also estimated to boost the market growth.
Regionally, the global pharyngitis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is estimated to gain the largest market share over the forecast period, owing to the advanced healthcare sector, and high expenditure on public health in the region. According to another report by WHO, in 2018, the per capita healthcare expenditure of North America was USD 10,050.279. Moreover, increasing investment in medical R&D activities my major pharmaceutical companies in the region, is estimated to boost the market growth. The market in the Asia Pacific region is projected to witness the highest CAGR over the forecast period, owing to the increasing cases of pharyngitis backed lack of health awareness among the public. Moreover, improving healthcare sector is estimated to boost the market growth.
Growing Prevalence of Measles to boost the Market Growth
As per other report by WHO, more than 140 000 deaths were caused by measles, globally, in 2018. This rate is declining, owing to the increasing reach of vaccines. WHO stated that almost 23.2 million deaths were prevented between 2000-2018, by taking measles vaccines.
Measles and chickenpox are highly infectious diseases, that can spread fast in a short time span. The bacterial infection, that causes these diseases, is the main cause for pharyngitis. The growing prevalence of pharyngitis causing diseases, is estimated to boost the market growth. Moreover, the aftereffects of vaccines for measles, also includes pharyngitis, which is further estimated to boost the market growth.
However, lack of awareness is expected to operate as key restraint to the growth of global pharyngitis treatment market over the forecast period.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
This report also provides the existing competitive scenario of some of the key players of the global pharyngitis treatment market which includes company profiling of Teva Pharmaceutical Industries Ltd., Viatris Inc. (Mylan), Adamas Pharmaceuticals, Inc., GlaxoSmithKline plc., Abbott Laboratories, AbbVie Inc., Amgen Inc., Sanofi-aventis Groupe, Pfizer Inc., and Purdue Pharma L.P. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global pharyngitis treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.