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Tuberculosis Drugs Market Industry Forecast till 2024

08-29-2018 02:50 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Tuberculosis is a chronic condition that is often undermined, though it can be fatal if left unchecked. Thankfully, extensive awareness campaigns and initiatives by various governments to curb the menace is bearing fruit. Tuberculosis treatment helped prevent 49 million fatalities associated with the condition between 2000 and 2015. However, there are still some prominent diagnostic and treatment slits that continue. In 2015, approximately 6.1 million newly diagnosed tuberculosis cases were reported by national authorities of various countries and reported to World Health Organization. This high increase in tuberculosis cases during 2013–2015, was typically due to a 34% increase in tuberculosis cases notifications in India. Globally, there was 4.3 million new tuberculosis cases gap between incident and reported cases, out of which India, Indonesia, and Nigeria comprises almost half of these newly diagnosed cases impacting high revenue generation in tuberculosis drugs market.

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In 2015, out of 580 thousand people who were eligible for multidrug resistance tuberculosis treatment, only 125 000 (20%) were registered. Five countries, namely India, China, the Russian Federation, Indonesia, and Nigeria account for over 60% of this gap. Worldwide, the multidrug resistance tuberculosis treatment success rate was 50-52% in 2013 and in 2015, approximately 55% of reported new tuberculosis patients had a documented HIV test result. The HIV-positive tuberculosis patients on an antiretroviral therapy was around 78%. This led to the wider understanding about the ailment and government and non-governmental organizations alike are focusing on developing tuberculosis preventive treatment and increasing their access to the general populace. Thus, it would boost the tuberculosis drugs market over the forecast period.

The global tuberculosis drugs market was valued at US$ 1,333.1 million in 2015 and is expected to witness a CAGR of 23.4% during the forecast period (2016 – 2024).

With the significant increase in revenue of tuberculosis drugs market, over last decade, more than 10 chemical moiety have advanced into the clinical trial development pipeline, which include six new chemical moiety significantly and specifically developed for tuberculosis. Though there are molecules in clinical development phase, the global drug pipeline for tuberculosis is still not sufficient to address the unmet needs of treatment. Many pharmaceutical companies have produced molecules that are under clinical trials and the key challenges by any company to develop new product to treat tuberculosis and effects the tuberculosis drugs market are the needs for drugs in combination therapy, new trial strategies, studies on pediatric TB drugs, population and increased clinical trial capacity and clear regulatory guidelines.

High funding for research and development and clinical trials drugs to boost the tuberculosis drugs market

There was around US$ 6.6 billion revenue accessible for tuberculosis care and prevention in many of the low and middle-income countries in 2016, out of which 84% was from domestic sources. However, national tuberculosis program (NTPs) in low income countries linger to depend on international donors or foreign healthcare agencies to fund them approximately 90%. Investments in low income countries and middle income countries declined by US$ 2 billion to US$ 8.3 billion, which was needed in 2016. There were many enhancements needed in overall healthcare financing to curb new tuberculosis cases proportionally boosting tuberculosis drugs market. Government expenditures on healthcare in specific to tuberculosis in 2014 were less than the World Health Organization set a benchmark of at least 6% of gross domestic product in around 150 countries.

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Private expenditures surpassed 45% of total healthcare expenditures in tuberculosis in 46 countries, which also includes 11 of the 30 high tuberculosis burden countries. Presently, there are around 13 vaccine candidates in clinical development, which include trial drugs for prevention of tuberculosis infection and trial drugs for prevention of tuberculosis disease in people with Latent Tuberculosis Disease. According to WHO, at least US$ 2 billion investment is needed every year for tuberculosis research and development. In stark contrast, capital investment during 2005–2014 was reported to be US$ 0.7 billion annually. Infusion of investments in research and development would significantly improve the tuberculosis drugs market outlook.

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

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