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Coronavirus Infection Market Trends with Forecast Up to 2024
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These viruses cause a range of serious infections in humans from common cold to severe respiratory problems. Coronavirus is spread through droplets, i.e., by coughing or sneezing and there is a limited possibility that this large family of virus can also be spread by close contacts with an ability to pass from person to person. Sore throat, coughing, fever, respiratory infection and difficulty in breathing are some of the most common symptoms of coronavirus infection.
Major driving factors for the growth of coronary infection market are increase in the rate of communicable diseases, disposable income in emerging countries, increasing number of hospitals, and rising health hygiene of individuals across geographies. Technological advancement and innovation about respiratory infection treatment has also triggered the growth of the coronary infection market. On the other hand, huge amount of capital involved in the market would most likely impede the growth of this market.
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Geographically, North America holds a leading position in the coronary infection market followed by Europe. The prime driving factors for the growth of this market in these regions are increasing awareness among people regarding infectious viruses such as SARS-CoV, shift to sophisticated treatment tools, and constantly increasing segment of the population who acquire coronavirus infection.
According to the World Health Organization (WHO), around 1.1 million people in the United States were hospitalized with pneumonia and 50,000 people died from this disease. Asia-Pacific is one of the fastest growing regions and is the most lucrative market as this region is expected to show a rapid growth in the near future.
Major factors that will boost the growth of the coronavirus infection market in Asia-Pacific are high population density in countries like China and India where there is high prevalence of contagious diseases, improved healthcare infrastructure, and demand for novel drug therapeutics related to coronavirus infected diseases.
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Some of the top major players operating in the coronavirus market are Inovio Pharmaceuticals, Inc., Novavax, Inc., Protein Potential, LLC, AlphaVax, Inc., Synairgen plc, NanoViricides, Inc., GGeneCure, LLC and many others.
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