According to Future Market Insights, the global strep throat treatment market was anticipated to reach a valuation of US$ 1.99 billion in the year 2022. Expected to register a value CAGR of 4.41% from 2023 to 2033, the market for strep throat treatment is expected to reach US$ 2.08 billion as of 2023 and further to US$ 3.2 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value for Strep Throat Treatment in 2023 | US$ 2.08 billion |
| Expected Market Value for Strep Throat Treatment in 2033 | US$ 3.2 billion |
| Growth Rate of the Strep Throat Treatment Market (2023 to 2033) | CAGR of 4.41% from 2023 to 2033 |
Growth in the market is predicted to be fueled by an increase in the number of deaths caused by rheumatic heart disease, particularly in industrialized areas. Group A streptococcus bacteria, which causes strep throat as well as scarlet fever, are a major driver of the global strep throat treatment market. Furthermore, the industry is expected to grow as people become more aware of many viral diseases. Public awareness and efforts for AIDS, flu and ebolaviruses are also essential for increasing public understanding and, as a result, impacting sector growth. The World Health Organization (WHO) recommends that nations maintain regular viral illness surveillance, collect samples from viral disease surveillance sites, and start different campaigns for the diseases.
Strong government regulations, a flood of investment from abroad, and substantial grassroots work being done in the diagnostics sector, along with remarkable outcomes for the strep throat treatment market, are further hopeful. The market for strep throat treatments is going to receive the much-needed push from growing consumer interest in modern healthcare processes as well as rising knowledge of newly released diagnostic procedures that are still in the design and development stages. Consumer changes are more likely to occur in nations with significant purchasing power parity and attractive reimbursements.
Due to the high number of recent cases of the illness recorded in the region and the policy shift in favor of rapid design and development of new-generation therapeutic/diagnostic techniques, North America is expected to dominate the strep throat treatment market. Researchers and medical professionals at Saint Michael's Medical Center looked at recent cases of COVID-19 and strep throat co-infection that were reported in the United States. Also, an increase in the number of patients with upper respiratory illnesses was observed concurrently in the area, which is extremely concerning for the healthcare sector. Clinical laboratories all around the world are exploring the possibility of using molecular tests to do away with the requirement for supplement testing.
Serologic examination of acute and convalescent clinical specimens is the traditional method for determining whether strep throat is caused by C. pneumonia or M. pneumoniae; however, PCR, as well as culture, are frequently employed in conjunction with serology for scientific purposes. A heterophil antibody test (mono spot) or the detection of immunoglobulin M (IgM) autoantibodies to the EBV capsid antigen in an early serum sample are two additional ways that serology can confirm the diagnosis of primary EBV infection.
Children, particularly those under the four-year mark, require specialized EBV serology to be identified, even though 85% of adults and adolescents have heterophil antibodies within a week of getting ill. Molecular detection techniques like PCR and RT-PCR may be used to identify the common respiratory viruses that trigger strep throat, as well as the viral culture of a nasopharyngeal sample. Such new developments in the treatment and identification of the disease are expected to accelerate the revenues in the global strep throat market.
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Strep throat is a bacterial infection that causes inflammation and pain in the throat. This common condition is caused by group A Streptococcus bacteria. The rising prevalence of bacterial infections and transmission of infectious diseases due to lack of cleanliness in developing countries is expected to drive the growth of the global strep throat treatment market.
On the basis of diagnosis, the strep throat treatment market is segmented into antibody tests, physical examinations, throat cultures and others. Antibody tests and throat culture is expected to contribute significantly to the growth of the market in this segment. With the COVID-19 breakout in December 2019, the disease has affected more than 200 countries. Therefore, it is important to take this into consideration while the strep throat treatment market.
The disease may have led to a temporary lag in the strep throat treatment market, but in the long run, the strep throat treatment market is expected to pace up and flourish at a significant rate during the forecast period 2020 to 2030.
Growing cases of bacterial infection are expected to boost the overall growth of the strep throat treatment market. The development of unhealthy lifestyles and lack of cleanliness is also expected to drive the growth of the strep throat treatment market.
The rising prevalence of severe diseases such as rheumatic fever due to untreated strep throat is also expected to contribute to the growth of the global strep throat treatment market. However, the lack of awareness about the treatment and emergence of new antibiotic strains may restrict the growth of the market.
Principal Consultant
The global market for strep throat treatment market is estimated to experience considerable growth during the forecast period. Based on the diagnosis, the global strep throat treatment market is segmented into antibody tests, physical examinations, throat cultures, and others. Antibody tests and throat cultures are expected to have the largest share in this segment during the forecast period. This is due to increasing dependence on these tests, in order to determine the presence of the disease.
Based on end-users, the strep throat treatment market is segmented into hospitals, diagnostic laboratories, specialty clinics, and others. In this segment, diagnostic laboratories are expected to generate huge revenue during the forecast period.
Geographically, the strep throat treatment market is segmented into seven regions viz. South Asia, East Asia, Europe, Latin America, North America, Oceania, and Middle East, and Africa. Due to the latest technology development and the presence of a variety of innovative drug molecules to enhance the treatment procedure, North America is expected to account for the largest share of the strep throat treatment market.
Europe is expected to have the second-largest market for global strep throat treatment market due to high research and development, healthcare expenditure, and skilled professionals. East Asia is expected to observe substantial growth in the strep throat treatment market due to the availability of funds for research and development.
On the other hand, South Asia is expected to witness the fastest growth in the strep throat treatment market due to the increased prevalence of bacterial infections and increasing investment in healthcare infrastructure.
Developing medical infrastructure in Latin America is expected to result in the steady growth of the strep throat treatment market during the forecast period. In the Middle East and Africa, market growth is expected to be limited due to slow economic growth, underdeveloped infrastructure, and lower access to technological advancement.
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Some of the players identified in the strep throat treatment market include:
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Tentatively, the global strep throat treatment market has been segmented on the basis of diagnosis, end-users, and regions.
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Strep Throat Treatment Market
