Wilmington, Delaware, United States, March 13, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Severe Acute Respiratory Syndrome Treatment Market is projected to record CAGR of -14.5% from 2022 to 2031, as per the market outlook report by Transparency Market Research (TMR).
Presently, severe acute respiratory syndrome (SARS) does not have a specific treatment. Hence, treatment for this disease includes supportive measures, such as fever and other symptoms management, secondary infections prevention, and maintaining sufficient oxygen levels to the patient. As per market trend analysis in the TMR report, the antibiotics segment accounted for significant share of the global industry in 2021. Healthcare professionals across the globe have limited the use of antibiotics in the treatment of SARS caused due to SARS-CoV-2 during the coronavirus pandemic, as antibiotics are ineffective against SARS. Hence, primary treatments for SARS-CoV-2 include antiviral drugs, such as favipiravir and remdesivir, together with the supportive care. Nevertheless, usage of antibiotics can be recommended for COVID-19 in case of secondary bacterial infections.
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Severe Acute Respiratory Syndrome Treatment Market: Key Findings
- SARS-CoV-2 refers to a virus responsible for COVID-19, a respiratory disease. Surge in cases of coronavirus has led to rise in need for vaccines and treatments for prevention and treatment of the disease. Research institutions and pharmaceutical companies are collaborating in order to develop effective treatment solutions for SARS-CoV-2, such as monoclonal antibodies, vaccines, and antiviral drugs. As per the TMR research report, the SARS-CoV-2 segment held leading share of the global market in 2021.
- Government authorities and private organizations across the globe have financially supported R&D activities as well as manufacture of medications intended for the treatment of SARS. Moreover, the World Health Organization (WHO) is actively involved in coordination of international efforts focused on restricting the SARS spread as well as funding research on its treatment. The organization has developed a global research network in 2003, focused on speeding up SARS treatment and vaccine development. These factors are anticipated to drive market development in the next few years.
- Several research institutions, government agencies, and pharmaceutical companies are focusing on R&D and manufacturing of treatment solutions for SARS. Hence, these players are entering into partnership and collaboration agreements. These efforts are likely to fuel market growth during the forecast period.
- As per TMR study, the hospital pharmacies segment is projected to account for substantial share of the global industry during the forecast period. This can be ascribed to rise in hospitalization of SARS patients, as this condition requires treatment with antiviral drugs, which are administered using intravenous (IV) infusion in hospitals.
Severe Acute Respiratory Syndrome Treatment Market: Growth Drivers
- Rise in prevalence of SARS across the globe is fueling demand for advanced treatment solutions for the disease
- Increase in funding by government as well as private organizations for R&D activities focused on the development of novel treatments for SARS are propelling industry growth
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Regional Analysis
- North America held significant share of the global market in 2021. This is ascribed to rise in R&D activities in order to develop novel antiviral medications and vaccines that can help in the prevention of SARS. According to the SARS treatment market trends analysis in the TMR research report, North America is projected to dominate the global market during the forecast period.
Severe Acute Respiratory Syndrome Treatment Market: Competition Landscape
- Companies are entering into partnership agreements with other players in order to develop novel treatment solutions
- These enterprises are also adopting strategies, such as product launch, merger, and acquisition, in order to increase their market share
Severe Acute Respiratory Syndrome Treatment Market: Key Players
- Eli Lilly and Company
- AstraZeneca plc
- Gilead Sciences, Inc.
- F. Hoffmann-La Roche Ltd.
- Merck
- GSK
- Regeneron Pharmaceuticals, Inc.
- Pfizer
- CN Bio
- Swedish Orphan Biovitrum
- AbbVie
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Severe Acute Respiratory Syndrome Treatment Market Segmentation
Drug Class
- Antibiotics
- Antivirals
- Corticosteroids
- Monoclonal Antibodies
- Others
Indication
- SARS-COV
- SARS-COV-2
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Others
Regions Covered
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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