According to Technavio Research Report " Global Neglected Tropical Disease Treatment Market by type (antiparasitic drugs, antibacterial drugs, and antiviral drugs) and geographic regions (ROW, Asia, and North America) is witnessed to grow by USD 2.13 billion, at a CAGR of 5% from 2019 to 2023”.
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Global neglected tropical disease treatment market: Growing development of non-therapeutic approaches for addressing the root disease causes
Various preventive measures have been taken to identify and address the root causes of neglected tropical diseases. People living in rural and remote areas are more prone to these diseases due to lack of proper sanitation, clean water, and vector control, in turn, leading to poor disease control. This calls for the need to identify non-therapeutic approaches and address the root causes of disease. Such initiatives will eventually drive market growth during the forecast period.
“Several missions are being initiated to reduce dengue-related mortality and morbidity in emerging economies including India. These initiatives involve providing mosquito nets, access to clean water, and facilitating sustainable sanitation practices. With such initiatives and approaches, several neglected diseases will be eradicated from advancing economies,” says a senior research analyst at Technavio.
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Global neglected tropical disease treatment market: Segmentation analysis
This market research report segments the global neglected tropical disease treatment market by type (antiparasitic drugs, antibacterial drugs, and antiviral drugs) and geographic regions (ROW, Asia, and North America).
ROW led the market in 2018, followed by Asia and North America respectively. The large market share of ROW can be attributed to the high prevalence of neglected tropical diseases due to poor sanitation facilities in the region.
Global neglected tropical disease treatment market: Initiatives towards increasing awareness and access to medicines
A key factor driving the growth of the global neglected tropical disease treatment market is the growing initiatives towards increasing awareness and access to medicines for neglected tropical diseases. Neglected tropical diseases are infectious diseases that are highly prevalent in tropical and subtropical countries. The diseases most commonly occur in the rural populations due to poor housing, improper sanitation, and unsafe water. Therefore, the high prevalence, has made it necessary for organizations to raise awareness and increase access to medicines in these countries. Several organizations including WHO, UNDP, and GHIT are launching initiatives to improve the access to medicines, vaccines, and diagnostics for neglected tropical diseases in the low- and middle-income countries. Such awareness programs across the globe will eventually drive market growth during the forecast period.
Few Major Players for the Global Neglected Tropical Disease Treatment Market are:
- Bayer AG
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline Plc
- Novartis AG
- Pfizer Inc.
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