LONDON, Dec. 27, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s severe acute respiratory-syndrome treatment global market report 2024, the Severe Acute Respiratory-Syndrome (SARS) treatment market has witnessed remarkable growth in recent years, with the market size expanding from $2.99 billion in 2023 to $3.45 billion in 2024, marking a compound annual growth rate (CAGR) of 15.3%. This surge can be attributed to global responses to outbreaks, antiviral drug developments, vaccine advancements, and heightened public health preparedness. The Severe Acute Respiratory-Syndrome treatment market is poised for continued growth, projecting a robust ascent to $6.12 billion by 2028 at a CAGR of 15.4%.
Segments Driving Growth: Broad-Spectrum Antivirals, Emerging Therapeutics, and Vaccine Advancements
In the historic period, the industry witnessed significant growth driven by global outbreak responses, antiviral drug development, vaccine advancements, and public health preparedness. Looking forward, the forecast period will be shaped by broad-spectrum antivirals, emerging therapeutics, and vaccine advancements, coupled with a renewed focus on pandemic preparedness.
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Main Regions and Rapid Growth Projections
In 2023, North America dominated the Severe Acute Respiratory-Syndrome treatment market, asserting its position as the largest region. However, the forecast anticipates Western Europe to emerge as the fastest-growing region in the coming years, reflecting the global nature of this market.
Trends Influencing the Forecast Period: RNA-Targeted Therapies, AI in Drug Discovery, Global Collaborations
The forecast period is marked by transformative trends, including the adoption of RNA-targeted therapies, the integration of artificial intelligence in drug discovery, global collaborations, and a heightened focus on public health education. These trends are expected to shape the trajectory of the market and contribute to its unprecedented growth.
Respiratory Diseases Incidence Driving Market Growth
The escalating incidence of respiratory diseases is a pivotal factor propelling the Severe Acute Respiratory-Syndrome treatment market. These treatments play a crucial role in alleviating symptoms, preventing respiratory failure, reducing inflammation, and maintaining oxygen levels. The rise in respiratory disease-related deaths, as reported by the Australian Institute of Health and Welfare, underscores the urgency and importance of the market's continued expansion.
Key Players and Innovative Techniques
Major players in the Severe Acute Respiratory-Syndrome treatment market include Pfizer Inc., F. Hoffmann-La Roche Ltd., AbbVie Inc., and others. These industry leaders are actively engaged in developing innovative techniques, such as multiplexed real-time PCR, to maintain their competitive edge. For instance, TransGen Biotech Co. Ltd.'s launch of the Trans-SARS-CoV-2 assay highlights the industry's commitment to advancing diagnostic capabilities.
Segmentation Overview
The Severe Acute Respiratory-Syndrome treatment market is segmented based on drug class, route of administration, indication, and distribution channels:
- Drug Class: Antibiotics, Antiviral, Corticosteroids, Monoclonal Antibodies, Other Drug Classes
- Route of Administration: Oral, Intravenous
- Indication: Severe Acute Respiratory Syndrome COVID-19 (SARS-CoV), Severe Acute Respiratory Syndrome COVID-19 2 (SARS-CoV-2)
- Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
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This comprehensive Severe Acute Respiratory-Syndrome treatment market report equips industry players with valuable insights into market dynamics, emerging trends, and growth drivers. Companies can leverage this information to make informed decisions, identify lucrative opportunities, and stay ahead in the competitive landscape. From innovative techniques to market segmentation insights, the Severe Acute Respiratory-Syndrome treatment market report serves as a strategic tool for businesses aiming to capitalize on the unparalleled growth prospects within the Severe Acute Respiratory-Syndrome treatment market.
Severe Acute Respiratory-Syndrome Treatment Global Market Report 2024 by The Business Research Company provides insights on the severe acute respiratory-syndrome treatment market size, severe acute respiratory-syndrome treatment market segments, severe acute respiratory-syndrome treatment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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