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Influenza Treatment Market Report 2024 - Influenza Treatment Market Share And Size By 2033
Influenza Treatment Market
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According to The Business Research Company's, The influenza treatment market size has grown steadily in recent years. It will grow from $6.34 billion in 2023 to $6.60 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to a growth in number of annual influenza cases, increased government funding for influenza research and preparedness programs, public awareness campaigns promoting vaccination, the establishment of global influenza surveillance systems, and growth in healthcare facilities.
The influenza treatment market size is expected to see steady growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to the introduction of new antiviral drugs and treatment modalities, expanding vaccination programs, continued expansion and improvement of healthcare infrastructure, increasing elderly population, and development of new treatments. Major trends in the forecast period include progress toward developing universal vaccines, innovations in vaccine delivery systems, integration of AI and big data, advances in personalized medicine, and increased collaborations between pharmaceutical companies.
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Market Drivers and Trends:
The increasing number of autonomous automobiles is expected to propel the growth of the EV smart HVAC system market in the coming years. An autonomous automobile, additionally referred to as a self-driving car or a driverless vehicle, is a vehicle that can operate without human involvement, perceive its surroundings, and carry out vital activities without human intervention. The number of autonomous automobiles is increasing due to market demand for safer and more efficient transportation and regulatory initiatives promoting autonomous vehicle deployment. Smart HVAC systems in autonomous electric vehicles optimize passenger comfort and energy efficiency through automated temperature and airflow adjustments based on environmental conditions and passenger preferences. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there were projected to be 3.5 million autonomous vehicles or self-driving cars on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the increasing number of autonomous automobiles drives the EV smart HVAC system market.
Major companies operating in the influenza treatment market are focusing on expanding their product portfolio by adding innovative solutions, such as single-dose oral medicine for influenza treatment, to enhance patient compliance, improve treatment outcomes, and capture a larger market share. A single-dose oral medicine refers to a medication designed to treat influenza (flu) with just one oral dose, simplifying the treatment regimen. For instance, in August 2022, Genentech Inc., a US-based biotechnology company, announced the U.S. Food and Drug Administration (FDA) approval for Xofluza (Baloxavir Marboxil). Xofluza is the first and only single-dose oral medicine that offers a convenient and efficient solution for managing acute uncomplicated influenza in children aged five to less than 12 years who have been symptomatic for no more than 48 hours and other respiratory viruses.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Bristol-Myers Squibb Company, AstraZeneca plc, Novartis AG, GlaxoSmithKline Plc , Takeda Pharmaceutical Company, Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Fujifilm Holdings Corporation, Viatris Inc., Teva Pharmaceutical Industries Ltd., Janssen Pharmaceuticals Inc., Regeneron Pharmaceuticals Inc., Daiichi Sankyo Company Limited., Chugai Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Limited, Cipla Ltd, Dr. Reddy's Laboratories Ltd., Lupin Limited, NATCO Pharma Limited, BioCryst Pharmaceuticals Inc., NanoViricides Inc.
Influenza Treatment Market 2024 Key Insights:
• The influenza treatment market size is expected to see steady growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%.
• Rising Prevalence Of Contagious Respiratory Illnesses Drives Influenza Treatment Market Growth
• Companies Expand Influenza Treatment Options With Single-Dose Oral Medicines
• North America was the largest region in the influenza treatment market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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