by Leishmaniasis is a vector-borne disease caused by parasites belonging to the genus Leishmania. It affects mainly the poor, destitute people in developing countries. The available treatment options for leishmaniasis like miltefosine have severe side effects. There is a need for effective and safer treatment options to control this neglected tropical disease. The global Leishmaniasis Treatment Market is estimated to be valued at US$ 69.4 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand for more effective and safer treatment options for leishmaniasis is one of the major factors driving the growth of the leishmaniasis treatment market. Currently, treatments such as miltefosine have toxic side effects and resistance issues. Drug development efforts by major players to develop novel therapeutics with better efficacy, safety profiles and new drug delivery mechanisms are expected to boost the leishmaniasis treatment market growth over the forecast period. Continuous research and development activities conducted by pharmaceutical companies for new drugs and formulations are further expected to contribute to market growth.
SWOT Analysis
Strength: There is a high unmet medical need for effective treatment of leishmaniasis as existing drugs have significant side effects.
Weakness: The development of new drugs is challenging due to the complexity of the parasite’s life cycle and host immune response.
Opportunity: Increasing research funding from governments and private organizations to develop new drugs present opportunities for market growth.
Threats: Stringent regulatory pathways for approval of new drugs and competition from generic drugs post patent expiry are threats.
Key Takeaways
The Global Leishmaniasis Treatment Market Size is expected to witness high growth over the forecast period. The market is projected to reach US$ 69.4 Mn in 2024 from US$ 22.3 Mn in 2021, expanding at a CAGR of around 22% during the forecast period.
Regional analysis: North America region currently dominates the market and is expected to maintain its leading position during the forecast period. Increasing R&D activities for developing new drugs and availability of reimbursement drive the market growth in the region. Europe is expected to be the second largest market owing to high awareness levels and supportive government initiatives regarding leishmaniasis treatment. Asia Pacific region is likely to emerge as the fastest growing market for leishmaniasis treatment during the forecast period. Rising disease incidence along with improving healthcare infrastructure and services especially in developing countries such as India and China support the regional market growth.
Key players operating in the leishmaniasis treatment market are Johnson & Johnson, Intrabio, Cyclo Therapeutics, Inc., Kempharm, Inc., Azafaros B.V., StrideBio. Sarepta Therapeutics, Inc. The market is consolidated in nature with a few big players dominating. These players are engaged in new product development and partnership activities to strengthen their market position. For instance, in 2021 Johnson & Johnson received an approval for its new leishmaniasis drug Lagevrio in Europe.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
