Tamiflu (Oseltamivir Phosphate) Market Fueled by Rising Influenza Cases Worldwide
Tamiflu (Oseltamivir Phosphate) Market Fueled by Rising Influenza Cases Worldwide
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The global Tamiflu (Oseltamivir Phosphate) market is witnessing substantial growth attributable to the increasing prevalence of influenza across the world. Tamiflu (Oseltamivir Phosphate) is an oral antiviral medication used for treating and preventing influenza virus infections, commonly known as flu. As a neuraminidase inhibitor, it works by interfering with the ability of influenza viruses to be spread and infect other cells in the body. The rising awareness regarding the benefits of timely treatment of flu and the launch of generic versions of Oseltamivir Phosphate are propelling the demand for Tamiflu globally.
Global Tamiflu (oseltamivir phosphate) market is estimated to be valued at US$ 889.2 million in 2022 and is expected to exhibit a CAGR of 1.2% during the forecast period (2022-2030).
Key Takeaways
Key players operating in the Tamiflu (Oseltamivir Phosphate) market are Clue, Fitbit, Inc., Withings, Google Inc., Glow, Inc., Apple Inc., and Flo Health, Inc., among others. Clue is a popular fertility tracking app, while Fitbit and Withings provide fitness trackers and smartwatches that can monitor key health indicators. Google Inc. offers health tracking via Google Fit. Key opportunities in the global market include the development of generic versions of Tamiflu to increase affordability and accessibility in low and middle-income countries severely impacted by influenza outbreaks. Major players are actively expanding their presence across geographies through collaborations with regional pharmaceutical distributors. For instance, Roche entered into agreements with several Asian companies for the supply and distribution of Tamiflu tablets and suspension for pediatric use.
The Tamiflu (Oseltamivir Phosphate) Market Trends threat of new influenza strains emerging and mutating necessitates continuous surveillance worldwide. Therefore, key players are investing in R&D to develop novel antiviral drugs with improved efficacy. Governments and global health organizations are also focused on strengthening influenza vaccination programs, which will indirectly support market growth over the forecast period.
Market drivers: The increasing incidence of influenza disease owing to factors like lack of adequate sanitation, poor healthcare access, and emergence of new viral strains is a major market driver. According to WHO estimates, the global flu epidemic results in about 3-5 million cases of severe illness and 290,000-650,000 influenza-related deaths annually. This widespread prevalence of the flu virus increases the demand for effective treatment options like Tamiflu.
Market restraints: High medicine costs, particularly in low and middle-income countries, act as a significant restraint. At present, the wholesale acquisition cost of a standard course (75 mg twice daily for 5 days) of brand-name Tamiflu is approximately US$200. Substandard quality generics further undermine appropriate treatment and disease control. Stringent regulations involving the clinical trials and approval process for new drugs also discourage small manufacturers from entering the market.
Segment Analysis
The global Tamiflu market can be segmented on the basis of distribution channel and end use. Based on distribution channel, the hospital pharmacies segment is expected to dominate the market over the forecast period. High number of patient visits to hospitals for influenza related treatment is driving the segment's growth. By end use, the households segment holds the highest share presently. Easy accessibility and increased preference for over-the-counter oseltamivir drugs to control influenza virus at home without medical supervision is a key factor supporting the segment.
Global Analysis
In terms of region, North America is anticipated to account for lion's share of the Tamiflu (Oseltamivir Phosphate) Market Regional Analysis over the forecast period. High prevalence of influenza, robust healthcare infrastructure, and strong demand for advanced treatment options for controlling the virus are spurring the regional market. Europe holds second spot led by increasing healthcare spending and R&D investments towards drug development.
Asia Pacific is identified as the fastest emerging market and will expand at a considerable CAGR through 2031. This can be attributed to growing healthcare awareness, rising disposable incomes, and improving access to healthcare services across developing nations such as India and China.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
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