5 Key Takeaways from Fact.MR’s Report on Pharyngitis Market for Forecast Period 2017 - 2026
Published : 28 Dec 2017 Industry: Healthcare
Pharyngitis also known as pharynx is inflammation of the back of the throat resulting in a sore throat. It may be bacterial or viral, the most common bacteria that infect human throat is Group A Streptococcus. Various market players are working on developing rapid diagnostic testing solutions for the fast detection of infection to provide treatment at an early stage. According to the medical professionals, around 50% of a sore throat or pharyngitis is caused by viral infection, while around 15-20% is caused by bacterial infection. Hence, throat lozenges are also being prescribed for people suffering from pharyngitis and it also offers temporary relief from cough and cold, which the most common cause of sore throat. As per Randomized Controlled Trial (RCT) published recently in Canadian Medical Association Journal, found that probiotics and xylitol chewing gum have no effect on a sore throat or pharyngitis symptoms. Hence, drug manufacturers are conducting research to develop new drugs to fight sore throat without causing any side-effects.
As per the report compiled by Fact.MR, the global pharyngitis market is expected to witness sluggish growth. The market is likely to register 3.4% CAGR during the forecast period 2017-2026. The global pharyngitis market is also estimated to reach US$ 1,679.0 million revenue by the end of 2026. Pharyngitis is the most common problem among people. It is mostly caused due to other illness such as flu, cold, or mononucleosis it results in sore throat. Most of the health providers diagnose pharyngitis with the help of rapid strep test. Medicines are given by doctor only after determining whether the infection is viral or bacterial. Hence, manufacturers of drugs are conducting research to develop more effective drugs to treat pharyngitis. Below are few insights on how the global pharyngitis market will perform in the coming years.
5 Forecast Highlights on Global Pharyngitis Market
- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global pharyngitis market during the forecast period. Group A Streptococcus is a most common disease caused in settings of poverty, where transmission of an organism is possible due to the poor living condition. Hence, APEJ presents an opportunity for drug manufacturers. Moreover, the presence of key drug manufacturers in the region is also resulting in the growth of the market.
- North America is also expected to witness growth in the coming years. As the cigarette smoking is very common among young adults and is significantly associated with sore throat. Moreover, there has been an increase in the cases of acute pharyngitis diagnosed in children in the U.S.
- Beta lactams is expected to be one of the highly preferred drug class in the global pharyngitis market. By the end of 2026, beta lactams is estimated to reach close to US$ 500 million revenue.
- Retail pharmacies and drug stores are expected to witness the highest growth during the forecast period 2017-2026. Retail pharmacies and drug stores are estimated to exceed US$ 600 million revenue towards the end of 2026.
- Oral drug delivery is expected to be the most preferred drug administration route as it is convenient and also costs the least. Accounting for more than half of the revenue share, oral drug delivery is estimated to exceed US$ 1,200 million revenue by the end of 2026.
The report has also profiled leading players in the global market for pharyngitis, which will remain active through 2026. These include companies such as GlaxoSmithKline PLC, Pfizer Inc., Novartis AG, Zambon Group SpA, and BioStar Pharmaceuticals, Inc.