Pharyngitis Therapeutics Market Dynamics
According to the study published in 2016, by the Centers for Disease Control and Prevention (CDC) and Pew Charitable Trusts, doctors are often prescribing the wrong antibiotics, which concluded that only 52% of the 44 million antibiotic prescribed for sinus infections, middle ear infections, and pharyngitis are the first-line drugs. Furthermore, in 2017, the World Health Organization (WHO) released a report suggesting that there is a serious lack of new antibiotics in development, underscoring that antibiotic resistance is a global health emergency set to undermine the decades of progress in modern medicine.
Therefore, manufactures are increasingly focusing on research and development for new discovery of antibiotics or any other therapeutic drugs to treat pharyngitis. For instance, Innovative Med Concepts, Inc. is in the process of developing a promising treatment for pharyngitis i.e the company’s second novel product NRP-1—a proprietary throat spray—is designed to treat viral pharyngitis, which is expected to serve the large unmet medical needs and cause of most cases of pharyngitis. NRP-1 will also provide the required relief for cancer patients undergoing head and neck radiation plagued with disabling oral mucositis/pharyngitis. This spray delivers medication, which then adheres to the posterior pharynx despite repeated swallows and saliva.
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North America accounted for the largest share in the global pharyngitis therapeutics market, followed by Europe market in 2016. This is attributed to increasing prevalence of pharyngitis in North America. According to data published in American Family Physician Journal in 2009, pharyngitis is diagnosed in 11 million people in outpatient settings, each year in the U.S.
Furthermore, several pharmaceutical and biotechnological companies are focusing on expanding in the Asia Pacific region, to maximize their R&D efforts, as the Asia Pacific region provides low capital investment in research and development due to lower operational cost and highly efficient technicians. Increasing government investment in research and development is also expected to foster growth of the pharyngitis therapeutics market in Asia Pacific. As Group A Streptococcus is the most common disease caused in settings of poverty, where transmission of an organism is possible due to the poor living conditions. Hence Asia Pacific region provides a high opportunity for drug manufacturers in pharyngitis therapeutics market.
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