Influenza, commonly known as “flu,” is a respiratory disorder caused by an influenza virus. It is an infectious disorder which is of three types: type A, type B, and type C.
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The common symptoms of the disorder are cough, cold, fever, and sore throat, which can be mild or severe. The disease is spread easily from person to person by sneezing, coughing, or touching surfaces, and is generally diagnosed on the basis of symptoms.
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The treatment for influenza aims to prevent such complications and to ease the symptoms until the infection is cured. Initiation of antiviral treatment is recommended for hospitalized patients as early as possible.
Annual vaccination for influenza is the best way to prevent its infection, as vaccination can be done well before the exposure to the influenza virus, and can provide immunity throughout the season of influenza. The complications of influenza result in more than 200,000 patients in the U.S.
to be hospitalized every year.
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Rise in prevalence of influenza infections and government participation in prevention and treatment of infectious diseases in developing countries are major factors driving the growth of the influenza medication market. However, high cost of antiviral medications is expected to restrain the global market during the forecast period.
The global influenza medication market can be segmented on the basis of therapeutics, distribution channel, and region. Based on the therapeutics, the global influenza medication market is segmented into typical influenza medications (antivirals), light influenza medications (antibiotics), and pneumonia influenza medications.
The typical influenza medications segment accounted for a high market share of influenza medications in 2016, which is attributed to its effectiveness. Antivirals include major three FDA approved drugs, which are zanamivir, oseltamivir, and peramivir.
According to CDC, antiviral medications are approximately 70% to 90% effective in the prevention of influenza and are considered to be useful adjuncts to influenza vaccination. Rise in prevalence of influenza in developing countries and shift of population toward preventive health care are expected to drive the market growth of the typical influenza medications segment during the forecast period.
However, the light influenza medications segment is anticipated to expand at a significant CAGR during the forecast period due to the rising tendency of population for self-medication in developing countries.
Based on distribution channel, the global market is divided into hospitals, clinics, pharmacies, and others. The hospitals segment dominated the influenza medication market in 2016 due to positive reimbursement policies for manufacturers and rise in incidence of hospitalization for pneumonia type of influenza infections.
However, the pharmacies segment is anticipated to lead the market in terms of revenue during the forecast period, owing to the FDA approval of OTC products and rise in per capita income of the population.
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Geographically, the global influenza medication market is divided into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held a large market share in terms of revenue in 2016 owing to the establishment of R&D units by key players in developed countries.
Rise in prevalence of influenza infections such as H1N1 and government participation in prevention and control of such infectious diseases are anticipated to boost the North America market during the forecast period. However, Asia Pacific is expected to witness a high growth rate during the forecast period, which is attributed to the rising concern about the prevention of infectious diseases in highly populated countries such as India and China.
Major players operating in the global influenza medication market include Bristol-Myers Squibb, Eli Lilly and Company, AstraZeneca, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Novartis AG, Pfizer Inc., Bayer AG, Sanofi, Celgene Corporation, and others.
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