Global Pharyngitis Market to Projected to Grow to US$ 2.08 Billion by 2034, Reports Fact.MR

Growing traction for novel therapeutics set to drive demand for pharyngitis treatment solutions, asserts Fact.MR in its recently updated market study.

ROCKVILLE PIKE SUITE, MD, USA, August 7, 2024 /EINPresswire.com/ -- Increasing awareness related to the rising cases of viral infections among people is complementing global pharyngitis market growth, which is estimated to reach US$ 1.45 billion in 2024. As per the updated research study by Fat.MR, the market is forecasted to climb to a value of US$ 2.08 billion by the end of 2034.

In recent years, there has been an increase in the cases of pharyngitis around the world, which is generating demand for related treatment products. Several clinical trials are being conducted to identify the more suitable formulation effective to treat sore throat, which is estimated to widen opportunities for market players. Growing focus on patients receiving medication according to clinical requirements and their individual needs is forecasted to work as one of the prominent market growth drivers. Moreover, growing R&D activities for the development of more effective antibiotics with minimal side effects are set to widen opportunities for market players.

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Key Takeaway from Market Study

Worldwide demand for pharyngitis treatment is estimated at US$ 1.45 billion in 2024.

The global pharyngitis market is forecasted to reach US$ 2.08 billion by the end of 2034.

The market has been projected to advance at a CAGR of 3.7% from 2024 to 2034.

North America is expected to account for 35.9% share of global market revenue by the end of 2034.

Demand for pharyngitis treatment solutions in South Korea is calculated to increase at 4.4% CAGR from 2024 to 2034.

Retail pharmacies & drug stores are approximated to account for 58.5% share of global sales of pharyngitis treatment products.

“Growing incidence of pharyngitis, increasing awareness related to viral infections, and rising demand for antiviral drugs are set to contribute to market growth,” says a Fact.MR analyst.

Oral Drug Delivery Mode Gaining Prominence among Healthcare Providers and Patients

Worldwide demand for pharyngitis treatment products offered through oral mode is projected to increase at a CAGR of 3.6% and reach a value of US$ 879.7 billion by the end of 2034. This drug administration route is preferred due to its high patient compliance and convenience. In addition, the cost-effectiveness of pharyngitis treatment products consumed through oral delivery mode is also driving their demand across regions.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the pharyngitis market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on drug class (beta lactams, macrolides, cephalosporins, fluoroquinolones, tetracycline), mode of delivery (oral, intravenous, intramuscular), and distribution channel (hospital pharmacies, retail pharmacies & drug stores, online pharmacies), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

Key Market Players –

Pfizer Inc. | Novartis AG | GlaxoSmithKline PLC | Zambon Group SpA | BioStar Pharmaceuticals Inc.

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Revenue in the global parenteral drug market, according to an updated Fact.MR report, is projected to reach US$ 595.63 billion in 2024. Worldwide sales of parenteral drugs have been forecasted to rise at a CAGR of 5.5% and climb to US$ 1,020.17 billion by 2034-end.

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