The Neglected Tropical Disease Treatment Market Size is valued at USD 2.9 billion in 2023 and is predicted to reach USD 4.4 billion by the year 2031 at a 5.3% CAGR during the forecast period for 2024-2031.
Neglected tropical disease treatment describes medical approaches and activities, such as medication, vaccinations, and public health campaigns, that are intended to address infectious diseases that largely impact underprivileged communities in tropical countries. The market for neglected tropical disease treatment products is being propelled forward by the increasing frequency of these diseases in developing nations due to several factors, including poor hygiene and a lack of access to necessary services like clean water. Additionally, the continuous investments made by pharmaceutical companies in research and development play a major role in the expansion of the industry. Moreover, the market for treating neglected tropical diseases depends on infrastructure upgrades. Improving medical facilities facilitates more efficient service delivery, expands access to therapies, and aids in continuing disease control and surveillance initiatives, all of which will enhance overall market growth in the coming years.
However, the high cost of treatment, lack of expertise, and poor healthcare infrastructure are slowing down the market growth. Additionally, the COVID-19 epidemic delayed diagnosis and treatment initiatives, therefore distorting the neglected tropical disease treatment market by redirecting healthcare resources and attention. However, strong health systems and faster developments in telemedicine and healthcare delivery are needed. In addition, there is rising growth in the healthcare sector, rising government incentives, and more investment in the neglected tropical disease treatment market.
Competitive Landscape
Some Major Key Players In The Neglected Tropical Disease Treatment Market:
- Thermo Fisher Scientific, Inc.
- Hoffmann-La Roche Ltd.
- Omega Diagnostics Group PLC
- Abbott
- Oscar Medicare Pvt. Ltd.
- Merck Ltd.
- Genome Diagnostics Pvt. Ltd.
- ZeptoMetrix
- Bayer AG,
- GlaxoSmithKline plc
- Novartis AG
- Pfizer, Inc.
- Eisai Co. Ltd.
- Sanofi
- Astellas Pharma
- Takeda Pharmaceutical Company Limited
- Gilead Sciences
- Other Market Players
Market Segmentation:
The neglected tropical disease treatment market is segmented based on drug class, disease type, distribution channel. As per the drug class, the market is classified into anti-parasite, antifungal, antibiotics, and others. By disease type, the market is segmented into leishmaniasis, schistosomiasis, lymphatic filariasis, Chagas disease, African trypanosomiasis, and others. The distribution channel segment comprises direct sales and indirect sales.
According To The Drug Class, The Antibiotics Segment Accounts For A Major Contributor To The Neglected Tropical Disease Treatment Market.
Antibiotics in the neglected tropical disease treatment market are expected to hold a major global market share in 2023 because of their essential part in preventing bacterial infections connected to these disorders. Demand is driven in part by growing awareness of drug-resistant strains and more healthcare campaigns to fight these diseases. Furthermore, enhancing antibiotic accessibility and efficacy is a continuous research and development initiative that is driving this market growth.
The Leishmaniasis Segment To Witness Growth At A Rapid Rate
The leishmaniasis segment is growing rapidly because of the growing worldwide travel and migration that help the disease spread. Additionally, higher detection rates are the result of growing knowledge and better diagnosis methods. Moreover, improved government and non-governmental support for research and control initiatives is accelerating the development and implementation of successful treatments, therefore stimulating expansion in this market sector.
In The Region, The Asia Pacific Neglected Tropical Disease Treatment Market Holds A Significant Revenue Share.
The Asia Pacific neglected tropical disease treatment market is expected to note the highest revenue share in the near future. This can be attributed to large investments in research and development, excellent healthcare infrastructure, strong government support for disease elimination, and heightened public health awareness. In addition, North America is projected to grow very fast in the neglected tropical disease treatment market because of growing healthcare expenditures, higher disease prevalence, more treatment accessibility, and more government projects aiming at disease control innovation in healthcare technology.
Recent Developments:
- In Feb 2024, Takeda established a strategic relationship with Biological E. Limited, a prominent vaccines and biologics firm in India, to produce Takeda's dengue vaccine, TAK-003. The collaboration represents a significant advancement in combating the global public health menace of dengue fever, in accordance with the disease-specific objective established by the World Health Organisation (WHO) to attain a zero case-fatality rate from dengue by 2030.
Neglected Tropical Disease Treatment Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 2.9 Bn |
|
Revenue Forecast In 2031 |
USD 4.4 Bn |
|
Growth Rate CAGR |
CAGR of 5.3% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Drug Class, Disease Type, Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Omega Diagnostics Group PLC, Abbott, Oscar Medicare Pvt Ltd., Genome Diagnostics Pvt. Ltd., ZeptoMetrix and Other market players |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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