The global leprosy treatment market has been observing continued growth over the years and is expected to attain USD 3.5 Million with a CAGR of 3.2% over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in a minutely analyzed research report. The widespread occurrence of leprosy is the main driver of the market growth. Raising awareness coupled with government endeavors such as awareness campaigns and provision of free treatment and therapies to eradicate the diseases, especially in the developing countries of the world provide an impetus to the growth of the of the market. The rise in a number of clinical activities and funding by major players on the development of novel drugs and therapies also fuels the growth of the market. Favorable reimbursement policies to support the growth of the market. However, the market growth might be hindered by low healthcare penetration in developing countries and lack of proper medical facilities for treatment.
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Segmentation
The global leprosy treatment market has been segmented based on drug class, disease type, and market channel. By drug class, the market has been segmented into sulfone, phenazine, derivative, anti-tubercular drugs, and others. By disease type, the market has been segmented into paucibacillary leprosy and multibacillary leprosy. By market channel, the market has been segmented into private, contract, and others.
Regional Analysis
The global leprosy treatment market spans across the regions of North America, Europe, Asia Pacific, and the Middle East & Africa. North America represents the largest market for leprosy treatment due to the presence of favorable reimbursement scenario and high healthcare expenditure in the region. The US is the principal contributor to the North America market, and faster adoption of new technology is also a factor supporting the growth of the market in North America. Europe is the second largest market for leprosy treatment and is driven by high disposable income and raising awareness in the region. North America and Europe both have highly developed healthcare sectors with high patient involvement and awareness which has resulted in a demand for advanced treatment options. Asia Pacific is expected to be a highly profitable market over the forecast period and would be led by the economies of China and India. India and Indonesia are among the emerging market where leprosy has been diagnosed. The presence of a large patient population combined with the growing healthcare sector in the emerging markets of this region are likely to increase the scope for the leprosy market. The Middle East & Africa market is expected to exhibit moderate growth over the forecast period. The Middle East market is led by the Gulf nations, Saudi Arabia and UAE in particular while the Africa market is expected to have limited growth due to poor economic conditions and low healthcare penetration. Development of healthcare infrastructure in the Middle East & Africa is expected to propel the growth of the market over the forecast period.
Competitive Landscape
The notable players operating in the global leprosy market include Glaxo SmithKline, Cadila Pharmaceuticals, Macleods Pharmaceuticals, Astra Zeneca, Systopic Laboratories Pvt. Ltd., Acme Pharmaceuticals, Novartis International AG, Lark Laboratories Ltd., and others.
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