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Chagas Disease Treatment Market - Insights
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For instance, according a study published in National Center for Biotechnology Information (NCBI), in 2015, 4.2% of Latin American living in European countries were chronically affected with Chagas disease. Benznidazole is the only FDA approved treatment indicated for the treatment of Chagas disease. However, the drug, Nifurtimox manufactured by Bayer AG, is in the World Health Organization's (WHO) list of 'Essential Medicines' and used in the treatment of Chagas disease.
Increasing approval to Chagas disease treatment drugs is expected to drive growth of the global Chagas disease treatment market
Benznidazole is an essential antiparasitic drug used for the treatment of Chagas disease. In April 2018, Argentinian National Administration for Drugs, Food, and Medical Technologies (ANMAT) approved Laboratorio Elea Phoenix SA’s drug benznidazole for pediatric indication used for the treatment of Chagas disease. Currently, Argentina has the highest number of people suffering from Chagas disease. For instance, according to data published by Mundo Sano (Nongovernmental foundation in Argentina), in 2017, around 7,300,000 people were exposed to Chagas disease and about 1,600,000 were infected, in Argentina. Hence, approval of novel drugs is expected to fuel the market growth in the near future. Such approval of Chagas disease treatment drugs is expected to boost growth of Chagas disease treatment market in the near future.
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The global Chagas treatment disease market was valued at US$ 5.67 Mn in 2016 and is expected to witness a CAGR of 7.3% over the forecast period (2017–2025).
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