Flu which is also known as influenza is a typical viral infection. The most ordinary symptoms of flu are abnormal body temperature, chills, muscular pain, sore head, flow nose, cough, and others. The flu primarily affects the respiratory tractor the person. Moreover, the presence of the treatment and new drugs under development are likely to boost the overall growth of the market. Nevertheless, growing obstacles in research and development, patent termination of approved medicines, and afloat of non-specific type may hinder the growth of the flu treatment market.
Flu Treatment Market is anticipated to exceed USD 1537.8 million by 2030 from USD 860.2 million in 2019 at a CAGR of 6.19% throughout the forecast period, i.e., 2020-30. The Flu Treatment market is estimated to grow on the back of the following reasons. The main drivers of the Flu Treatment market are technological developments, unfulfilled medical demands throughout the yearly influenza outbreaks, growing occurrence of influenza cases, and rising government expenditure towards research & development of new drugs globally, which are likely to boost the market growth. Additionally, owing to the continuous transmission of Covid-19 disease, all across the globe that is resulting in a tremendous amount of deaths worldwide, continuous improvements in existing technology and collaborations between private organizations and government authorities for the treatment of such pandemic for flu is further supporting the growth of global flu treatment market.
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Global Flu Treatment Market: Segments
Type A segment to lead the market during the forecast period, i.e., 2020-2030
Based on type, Global flu treatment market is classified into type A, type B, and type C. The type A segment produced noteworthy amount of revenue as the worldwide pandemic Covid-19 comes under type A and is expected to further grow in future. Type a transfigurations are reviewed to be the key flu outbreaks that happen after every few years.
Antiviral drug segment to register highest CAGR in coming years
Based on the medication, Global flu treatment market is segmented into antiviral drugs, antihistamines, analgesics, and others. The antiviral drugs segment captured a market share of XX% in 2019 and is projected to generate the largest revenue during the forecast period. When the coronavirus vaccine would be invented it would lead to a prompt surge in its demand and because of the coronavirus cases prevailing all across the globe, the antiviral drugs would be procured huge demand.
A parenteral segment to drive the flu treatment market
On the basis of the route of administration, Global flu treatment market is divided into oral and parenteral. Between both these segments, the parenteral segment captured maximum market share in 2019 and is anticipated to show the highest CAGR in the forecast period as the Covid-19 is mainly attacking the respiratory system causing great harm to the patients and is quite hazardous. In order to overcome the present situation instantly, the drugs are needed to be introduced in the intestine to obtain fast outcomes.
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Hospital Pharmacies to steer over the market growth
Global flu treatment market, on the basis of distribution channels, is segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment is anticipated to demonstrate the highest CAGR during the forecast period due to the global pandemic Covid-19 critically affecting a large proportion of the population. Thus, it is likely to fuel the growth of the flu treatment market.
Hospitals are propelling the flu treatment market
Based on the end-users, the global flu treatment market is categorized into hospitals, specialty clinics, homecare, and others. Amongst these segments, the specialty clinics held a major market share in 2019 but the hospital segment is predicted to witness the highest CAGR during the forecast period, i.e., 2020-30. As a large number of Covid-19 patients are in isolation wards in the hospitals or are being taken care of by the hospital staff, hence to cure the patients they will be admitted to the hospitals, propelling the global flu treatment market.
Global Flu Treatment Market: Drivers and Restraints
Drivers: Increased Government Expenditure towards Research & Development
Rising demand for healthcare facilities during the global pandemic, exponentially multiplying the number of Covid-19 cases all across the globe and soaring expenditure and subsidies given by public institutions towards research and development of the Covid-19 vaccine are some major factors boosting the growth of global flu treatment market. Additionally, the World Health Organization has persuaded all advanced and emerging economies to develop a drug or vaccine that could cure the patients of Covid-19 resulting in rapid growth in global flu treatment market.
Restraints: Poor Healthcare Facilities
One of the major restraints of the flu treatment market is an absence or inadequate healthcare facilities in less developed and emerging economies. However, lack of knowledge regarding the detection of symptoms of flu due to poor infrastructural facilities in emerging economies also hampers the growth of the flu treatment market.
Global Flu Treatment Market: Region
North America to grow at the highest CAGR during the forecast period
Global Flu Treatment market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and Middle-East & Africa. Geographically, North America is likely to dominate the market due to the region registering the maximum number of Covid-19 cases. Rising investments in research and innovation of vaccines and drugs and the situation of major players in the region are likely to boost overall growth. In addition, the key players are engaged in the launch of new drugs which are in pipeline will propel the market.
Asia-Pacific is expected to show the highest CAGR and account for the major market share during the forecast period due to increasing disposable income, the growing emphasis on healthcare, and the presence of influenza cases. Europe is considered to hold a significant share in the future due to the concentration of global players on new technology.
Global Flu Treatment market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand and Rest of Asia-Pacific
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa and Rest of Middle East and Africa
- F. Hoffmann-La Roche Ltd
- Company overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Eli Lilly and Company
- GlaxoSmithKline Plc.
- Merck & Co. Inc.
- Novartis AG
- Sun Pharmaceutical Industries Ltd
- Natco Pharma Ltd.
- Bayer AG
- Pfizer Inc.
The Global Flu Treatment Market Report also contains an analysis on:
- Flu Treatment Market by segment:
- By Type
- Type A
- Type B
- Type C
- By Medication
- Anti-viral Drugs
- By Route of Administration
- By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- By End-User
- Specialty Clinics
- By Region
- North America
- Latin America
- Middle East and Africa
- By Type
- Flu Treatment Market Size
- Flu Treatment Market Dynamics
- Supply and Demand
- Current Issues/trends/challenges
- Competition and Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
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Ankur Gupta, Head Marketing & Communications