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 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Leishmaniasis is a vector-borne disease caused by protozoan parasites of the genus Leishmania. It is transmitted by the bite of infected female sand flies. The disease manifestations range from self-healing cutaneous lesions to severe visceral illness. Treatment depends on the clinical form of the disease and includes pentavalent antimonials, amphotericin B and miltefosine.
Market key trends:
One of the key trend in the market is increasing investment in R&D for developing novel treatment options. Currently available treatment options have limitations such as toxicity, high cost and requirement of prolonged parenteral administration. Therefore, there is renewed focus on identification and development of new molecular entities and drug repositioning for effective and safer treatment of leishmaniasis. Many companies and research institutes are conducting clinical trials to evaluate novel molecules which can overcome limitations of existing drugs and offer better treatment outcomes.
SWOT Analysis
Strength: The leishmaniasis treatment market has witnessed significant investments from leading pharmaceutical companies for research and development of novel drugs. Increasing awareness regarding leishmaniasis diagnosis and treatment options also acts as a major strength.
Weakness: High costs associated with treatment and lack of advanced healthcare facilities in underdeveloped regions pose challenges in the market. Lack of awareness in rural areas also acts as a weakness.
Opportunity: Increasing prevalence of leishmaniasis worldwide due to changing environmental and ecological conditions presents lucrative opportunities. Rise in initiatives by global organizations to combat leishmaniasis also offers new opportunities.
Threats: Limited product pipelines and threat of resistance development to existing drugs are major threats. Stringent regulatory guidelines for approval of new drugs also restrict the market growth.
Key Takeaways
The Global Leishmaniasis Treatment Market Size is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing investments in R&D of advanced treatment options. North America dominates the market owing to high awareness levels and advanced healthcare infrastructure in the region. On the other hand, South American countries are likely to witness fastest growth in the market.
Regional analysis: North America leads the global market and is expected to maintain its dominance during the forecast period. Higher diagnosis and treatment rates supported by advanced healthcare facilities drive the North American market. The market in South America is slated to witness highest growth owing to presence of endemic countries like Brazil, Colombia and Peru where leishmaniasis infections are widespread.
Key players operating in the Leishmaniasis Treatment market include Merck, iCo Therapeutics, AEterna Zentaris AG, Eurofins Advinus, Pieris Pharmaceuticals and Dafra Pharma. Major players are focused on new product launches, collaborations and acquisitions to strengthen their presence and expand corporate footprint in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
