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Increasing Strep Throat Transmission Fueling Growth In The Pharyngitis Treatment Market: Strengthening the Growth Trajectory of the Pharyngitis Treatment Market
Pharyngitis Treatment
What Is the Expected CAGR for the Pharyngitis Treatment Market Through 2025?
The market for pharyngitis treatment has seen consistent growth over the past few years. The predicted expansion is from $2.27 billion in 2024 to $2.37 billion in 2025, with a compound annual growth rate (CAGR) of 4.5%. Factors such as the frequent occurrence and rising incidence of flu, increased pharyngitis prevalence, heightened awareness of this condition, improved access to healthcare services, and higher disposable incomes have all contributed to this growth in the historic period.
What's the Projected Size of the Global Pharyngitis Treatment Market by 2029?
The market for pharyngitis treatment is projected to experience significant growth in the coming years, reaching $2.99 billion by 2029 with a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this growth during the forecast period include the adoption of rapid point-of-care tests, the demand for personalized medicine, the prevalence of antibiotic resistance, and the increased emphasis on hand hygiene. Additionally, the forecast period is expected to witness major trends such as progress in pharyngitis therapy research and development, the incorporation of digital health technologies, and the integration of telehealth.
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Top Growth Drivers in the Pharyngitis Treatment Industry: What's Accelerating the Market?
The anticipated rise in strep throat transmission is projected to fuel the expansion of the pharyngitis treatment market. A bacterial infection characterized by contagiousness, strep throat majorly impacts the throat and tonsils. Quick, comprehensive treatment of this malady using antibiotics lends to symptom alleviation, complication prevention, and lessens chances of passing the infection to others. As reported by the Centers for Disease Control and Prevention, a governmental agency of the US, in June 2022, there are an estimated 14,000 to 25,000 cases of invasive group A strep disease in the US each year. Moreover, strep ailments culminate to 5.2 million outpatient visits and trigger 2.8 million antibiotic prescriptions every year. Thus, the escalating spread of strep throat propels the pharyngitis treatment market's growth. Increasing influenza cases are also expected to boost the expansion of the pharyngitis treatment market. Commonly termed as the flu, influenza incites a contagious respiratory illness triggered by influenza viruses. Therapeutics for pharyngitis are chiefly employed to manage flu, and are effective in mitigating symptoms of inflammation or irritation, curbing allergies, and delaying complications like pneumonia and bronchitis. As stated by the European Centre for Disease Prevention and Control (ECDC), a governmental agency based in Sweden, in July 2023, during the 2022/2023 influenza season in the EU/EEA, positive influenza specimens touched 42% in the 51st week of 2022, subsequently maintaining approximate 28% between week 5 and 12 of 2023. Consequently, the burgeoning incidence is prompting the growth of the pharyngitis treatment market.
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What Trends Will Shape the Pharyngitis Treatment Market Through 2029 and Beyond?
In the pharyngitis treatment market, leading companies are concentrating their efforts on creating innovative products like oral monotherapy to improve patient adherence and deliver efficient and expedient treatment alternatives. Oral monotherapy implies the utilization of a single medication, taken orally, for the treatment of a specific condition or disease. It only requires the application of one therapeutic agent instead of a combination of different treatments to obtain the desired healing effect. For example, in December 2023, the first oral monotherapy for adults suffering from paroxysmal nocturnal hemoglobinuria (PNH), Fabhalta (iptacopan), was granted approval by the FDA. This approval was given to Novartis AG, a pharmaceutical company based in Switzerland. This groundbreaking achievement, recorded on [date], signifies substantial progress in providing a fresh treatment alternative that improves hemoglobin levels, rendering blood transfusions unnecessary.
What Are the Main Segments in the Pharyngitis Treatment Market?
The pharyngitis treatment market covered in this report is segmented -
1) By Drug Class: Beta Lactams, Macrolides, Cephalosporins, Fluoroquinolones, Tetracycline, Other Drug Classes
2) By Source of Infection: Viral, Bacterial
3) By Modes Of Delivery: Oral, Intravenous, Intramuscular, Other Modes Of Delivery
4) By End-Users: Hospitals, Homecare, Specialty Centers, Other End-Users
Subsegments:
1) By Beta Lactams: Penicillins, Amoxicillin, Ampicillin
2) By Macrolides: Erythromycin, Azithromycin, Clarithromycin
3) By Cephalosporins: Cefuroxime, Ceftriaxone, Cefdinir
4) By Fluoroquinolones: Ciprofloxacin, Levofloxacin, Moxifloxacin
5) By Tetracycline: Doxycycline, Minocycline, Tetracycline
6) By Other Drug Classes: Clindamycin, Sulfonamides, Carbapenems
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Which Top Companies are Driving Growth in the Pharyngitis Treatment Market?
Major companies operating in the pharyngitis treatment market are Pfizer Inc., GlaxoSmithKline PLC, Genentech Inc., Pliva Hrvatska D.o.o., Viatris Inc., Teva Pharmaceutical Industries Ltd., AbbVie Inc., Medtronic PLC, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Gilead Sciences Inc., Amgen Inc., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Fresenius Kabi AG, Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Cipla Limited, Hikma Pharmaceuticals PLC, Lupin Limited, Pliva Hrvatska D.o.o., LivaNova PLC, Genentech Inc.
Which Regions Will Dominate the Pharyngitis Treatment Market Through 2029?
North America was the largest region in the pharyngitis treatment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in pharyngitis treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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