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The global pneumonia treatment industry is being driven by the heightened prevalence of pneumonia infections among young children worldwide. In addition, the rapidly ageing population, which is more susceptible to such infectious diseases, is leading to increased morbidity and mortality rates. As a result, vaccinations such as pneumococcal vaccines are increasingly being administered in the treatment and prevention of illnesses for patients with severe pneumonia cases. Moreover, governments are increasingly collaborating with international organisations to raise awareness about pneumonia among the masses, while ensuring the supply of required medicines in the affected areas. Furthermore, the world is witnessing a significant increase in pneumonia cases caused by COVID-19 with heightened mortality rates.
The rising emphasis of the leading players in the development of vaccines and antibiotics by utilising advanced clinical solutions is expected to positively impact the industry growth in the forecast period. In June 2021, Pfizer Inc (NYSE: PFE) announced the reception of US FDA approval for their PREVNAR 20™ vaccine, which aims to prevent invasive diseases and pneumonia in adults of 18 years and above. In addition, another leading pharmaceutical manufacturer, GlaxoSmithKline (NYSE: GSK), in February 2021, announced their plans to conduct experimental tests of rheumatoid arthritis drug on patients suffering from pneumonia caused by COVID-19 with a special focus on the elderly, as an earlier study that tested the impact of otilimab medicine on elderly COVID patients showed a positive result. These developments are expected to positively impact the growth of the pneumonia treatment industry in the forecast period.
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The major players in the global pneumonia treatment market are Pfizer Inc., Bayer AG, Abbott Laboratories, Novartis AG, GlaxoSmithKline Plc, and Lupin Pharmaceuticals Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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