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Top Market Shifts Transforming the Neglected Tropical Disease Treatment Market Landscape: Key Insights
Neglected Tropical Disease Treatment Market Size
What Is the Expected CAGR for the Neglected Tropical Disease Treatment Market Through 2025?
The market size for the treatment of neglected tropical diseases has shown impressive growth over the recent years. Projected to escalate from $3.36 billion in 2024 to $3.57 billion in 2025, the market is expected to have a compound annual growth rate (CAGR) of 6.3%. This significant growth during the previous years can be credited to the rising government engagement in disease eradication programs, the growth of public-private symbiotic relationships for drug donations, increase in pharmaceutical contributions by international drug manufacturers, intensified research for budget-friendly antiparasitic treatments, and elevated investment in the development of vaccines and diagnostics.
What's the Projected Size of the Global Neglected Tropical Disease Treatment Market by 2029?
The market size for treatment of neglected tropical diseases is predicted to experience significant expansion in the upcoming years. The expected valuation is $4.52 billion by 2029, with a CAGR of 6.1%. The predicted growth can be credited to factors such as increased usage of digital tools for monitoring diseases, an expanding pipeline for new treatments and vaccinations, escalating demand for addressing antimicrobial resistance, enhanced cross-border collaboration for eradicating diseases, and the rise of diseases due to climate change. The forecast period is marked by trends like formulation of localized treatment strategies, establishment of affordable vaccine platforms, collaboration with primary healare infrastructure, development of disease surveillance networks, and innovations in vector control solutions.
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Top Growth Drivers in the Neglected Tropical Disease Treatment Industry: What's Accelerating the Market?
The increasing instances of infectious diseases are predicted to fuel the expansion of the neglected tropical disease treatment market. Infectious diseases are diseases instigated by damaging microorganisms such as bacteria, viruses, fungi, or parasites that can transmit directly or indirectly among people. The escalation of infectious diseases is attributed to augmenting travel, which accelerates the fast transmission of pathogens across boundaries. Neglected tropical disease therapies aid in controlling and eradicating disease spread. They enhance public health results, particularly in susceptible communities, by diminishing the disease burden and impeding long-term disabilities. For instance, in February 2024, the UK Health Security Agency, a UK-based government organization, reported an increase in tuberculosis cases in England, which rose to 4,850 in 2023, a 10.7% surge from 4,380 cases in 2022. Therefore, the increasing occurrence of infectious diseases is driving the neglected tropical disease treatment market's expansion.
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What Trends Will Shape the Neglected Tropical Disease Treatment Market Through 2029 and Beyond?
Major operators in the neglected tropical disease treatment market are leveraging strategic investments to bolster research and development, expand their global reach, and enhance the development of innovative treatments. These strategic investments contribute to the growth of this market by funding cutting-edge research, encouraging collaborations, and fast-tracking the creation of affordable yet effective treatments for marginalised populations. For instance, Novartis AG, a pharmaceutical corporation based in Switzerland, committed $250 million in June 2022 towards combating neglected tropical diseases (NTDs) and malaria. This investment is geared towards increasing the availability of treatments in regions with low income and facilitating the development of new treatments for neglected tropical diseases.
What Are the Main Segments in the Neglected Tropical Disease Treatment Market?
The neglected tropical disease treatment market covered in this report is segmented -
1) By Drug Class: Anti-Parasite, Antifungal, Antibiotics, Other Drugs Class
2) By Disease Type: Leishmaniasis, Schistosomiasis, Lymphatic Filariasis, Chagas Disease, African Trypanosomiasis, Other Disease Types
3) By Route of Administration: Oral, Parenteral
4) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy
5) By End User: Hospital, Specialty Clinics, Homecare Settings, Other End Users
Subsegments:
1) By Anti-Parasite: Anthelmintics, Antiprotozoals, Antimalarials, Ectoparasiticides
2) By Antifungal: Azoles, Polyenes, Allylamines, Echinocandins
3) By Antibiotics: Tetracyclines, Macrolides, Rifamycins, Sulfonamides
4) By Other Drug Classes: Antivirals, Corticosteroids, Combination Therapies, Supportive Treatments
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Which Top Companies are Driving Growth in the Neglected Tropical Disease Treatment Market?
Major companies operating in the neglected tropical disease treatment market are Pfizer Inc., Johnson And Johnson, Merck And Co. Inc., AbbVie Inc., Bayer AG, Novartis AG, Sanofi S.A., AstraZeneca PLC, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Astellas Pharma Inc., Eisai Co. Ltd., Shionogi And Co. Ltd., Dr. Reddy`s Laboratories Ltd, Cipla Ltd., Eiken Chemical Company Ltd, LifeArc, Atomwise Inc., Medicines Development for Global Health Ltd.
Which Regions Will Dominate the Neglected Tropical Disease Treatment Market Through 2029?
Asia-Pacific was the largest region in the neglected tropical disease treatment market in 2024. The regions covered in the neglected tropical disease treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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