The outbreak of COVID-19 has had a positive impact on the global pneumonia therapeutics market, owing to the rise in the prevalence of numerous respiratory diseases, sedentary lifestyle among people along with increasing geriatric population. The leading players of the market are focusing on developing strategies to revive the market growth in the post-pandemic market.
New York, USA, Aug. 03, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global pneumonia therapeutics market is expected to generate a revenue of $3,147.7 million by 2027, exponentially growing at a CAGR of 8.2% during the forecast period (2020-2027). The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Influencing the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the market has recorded a CAGR of 8.2% in the past few months, while it was anticipated to be 7.8% in the pre-COVID scenario. Increasing prevalence of various respiratory diseases and multiple initiatives taken by the government of various nations are expected to drive the growth of the pneumonia therapeutics market during the forecast period.
Factors Influencing the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size of the market has significantly increased compared to the pre-COVID estimations. The real-time market size reached a revenue of $1,817.1 million, while its estimations were $1,783.1 million during the pre-COVID scenario. Therefore, the market is expected to boom further in the upcoming years due the lack of equipment, instrument and medication required for the treatment of pneumonia among hospitals, enabling them to spend more on pneumonia therapeutics. In addition, substantial rise in the geriatric population around the world is further expected to drive the growth of the market during the forecast period.
Increasing number of COVID-19 cases among various nations and persistent clinical trials on the development of better and more effective vaccines are expected to accelerate the growth of the market. Moreover, persistent research and development done by key players of the market in order to devise effective equipment and treatment is expected to create vital investment opportunities in the future.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/357
Key Players of the Pneumonia Therapeutics Market
The major players of the market are -
Novartis Lupin Pharmaceutical
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, and business expansions.
For instance, in March 2021, Nabriva Therapeutics plc, a biopharmaceutical company, devised an agreement with Hercules Capital, a specialty finance company, in order to develop modern anti-infective agents to treat serious infections.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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