Neglected tropical diseases are caused by pathogens such as parasites, bacteria, and virus. neglected tropical disease treatment market considers the treatment of neglected tropical diseases using antiparasitic drugs, antibacterial drugs, and antiviral drugs. Our analysis also considers growth opportunities in Asia, North America, and ROW. In 2018, the antiparasitic drugs segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing prevalence of parasite-infected diseases will play a significant role in the antiparasitic drugs segment to maintain its market position. Also, our global neglected tropical disease treatment market report looks at factors such as initiatives to increase awareness and access to medicines for neglected tropical diseases, high morbidity rates, and increased funding in R&D. However, challenges associated with diagnosing neglected tropical diseases, challenges associated with drug discovery for neglected tropical diseases, and the increase in drug resistance may hamper the growth of the neglected tropical disease treatment industry over the forecast period.
Global Neglected Tropical Disease Treatment Market: Overview
Initiatives to increase awareness and access to medicines for neglected tropical diseases
The growing prevalence of neglected tropical diseases in tropical and subtropical countries has led many organizations across the world to increase awareness and to ensure easy availability of drugs for the treatment of such diseases. For instance, the Global Buruli Ulcer initiative by the World Health Organization (WHO) is aimed at improving awareness about Buruli ulcer disease. Several other organizations across the world are taking initiatives to improve the access of medicines, vaccines, and diagnostics for the treatment of neglected tropical diseases in low and middle-income countries. These developments are expected to drive the growth of the global neglected tropical disease treatment market size at a CAGR of almost 5% during the forecast period.
Development and approval of therapeutics for neglected tropical diseases
The high incidence of neglected tropical diseases such as dengue, lymphatic filariasis, trachoma, and leishmaniasis have encouraged researchers to focus on developing therapeutics for such diseases. For instance, researchers at the University Hospitals Cleveland Medical Center have developed a drug to treat patients with lymphatic filariasis. The drug is currently in Phase II of clinical trials. Many such advancements in drug development will aid in the treatment of many neglected tropical diseases and also fuel the market’s growth.
For the detailed list of factors that will drive the global neglected tropical disease market size during the forecast period 2019-2023, click here
With the presence of a few players, the global neglected tropical disease treatment market is fairly concentrated. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading drug manufacturers, that include Bayer AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Novartis AG, and Pfizer Inc.
Also, the neglected tropical disease treatment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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