Market Size of Pneumonia Treatment Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Pneumonia Treatment Market Analysis
The pneumonia treatment market is expected to register a CAGR of 8.2% during the forecast period.
The COVID-19 pandemic has had an impact on the pneumonia treatment market as patients suffering from COVID-19 are highly susceptible to pneumonia, causing a sharp surge in the number of cases of viral pneumonia. As per the NIH updated in September 2022, Hospitalized patients with COVID-19 may acquire common nosocomial infections, such as hospital-acquired pneumonia (including ventilator-associated pneumonia). Moreover, as per the study published in July 2021 by the British medical journal, The COVID-19 pandemic led to an unprecedented surge in hospitalized patients with viral pneumonia. Early diagnosis and treatment of these infections are important for improving outcomes in these patients. Thus, COVID-19 impacted the pneumonia treatment market, owing to the growth in demand for COVID-19-associated pneumonia and the surge in the incidence of pneumonia cases during the commenced period. However, even after the pandemic, the market is expected to see a surge due to an increase in lung injuries in many people with COVID-19. For instance, as per the study published In March 2022, By the Radiological Society of North America, Long-term CT abnormalities were common 1 year after COVID-19 pneumonia.
The major contributing factors to the market growth are the increasing prevalence of pneumonia and increasing product approvals related to the treatment of pneumonia. For instance, as per the UNICEF data updated in August 2021, globally, there are over 1,400 cases of pneumonia per 100,000 children, or 1 case per 71 children every year, with the greatest incidence occurring in South Asia (2,500 cases per 100,000 children) and West and Central Africa (1,620 cases per 100,000 children). Thus, with the increasing cases of pneumonia, the demand for its treatment is also expected to increase, which is further expected to boost the growth of the market over the forecast period.
Moreover, an increasing number of ongoing clinical trials for the development of drug molecules and various approvals by the key players will have a significant impact on the market progression. Currently, different companies operating in the pneumonia therapeutics market, including Merck and GSK, are putting enormous efforts into research and development activities. For instance, in February 2020, Food and Drug Administration accepted the review supplemental new drug application for Recarbrio for the treatment of adults with ventilator-associated and hospital-acquired bacterial pneumonia. In June 2021, the US FDA approved PREVNAR 20, Pfizer's pneumococcal 20-valent conjugate vaccine for adults ages 18 years or older, for the prevention of invasive disease and pneumonia caused by the 20 Streptococcus pneumonia (pneumococcus) serotypes in the vaccine. Thus, such developments are expected to boost the growth of the pneumonia treatment market over the forecast period.
However, low treatment rates in developing economies are expected to hinder the growth of the market over the forecast period.
