The global neglected tropical disease (NTD) treatment market size is expected to reach USD 1.9 billion by 2026, expanding at a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. Increasing prevalence of neglected tropical diseases is considered to be the vital impact rendering driver.
According to the data published in the WHO in 2018, T.B. Gambiense is endemic in 24 countries of Central and West Africa. This caused around 98% of reported cases of sleeping sickness. Furthermore, according to the CDC, around 400 people are infected annually by dengue.
Moreover, according to the statistics published in the WHO in 2019, more than 1.5 billion or 24% of the world’s population are infected with soil-transmitted helminthiases. These infections are distributed widely in tropical and subtropical areas majorly occurring in America, sub-Saharan Africa, East Asia, and China.
Presence of pipeline vaccines and drugs is also considered to be one of the major factors driving the market growth over the forecast period. For instance, Bayer AG is developing Nifurtimox (BAYA2502), currently under phase III clinical trials for the treatment of Chagas disease. Furthermore, Johnson & Johnson Services Inc. is developing Bedaquiline 200mg monotherapy regimen which is under phase II clinical trials for the treatment of leprosy and the study is estimated to be completed in 2021.
In addition, Instituto Butantan and Merck & Co., Inc. collaborated to develop vaccines against dengue in 2018. The Instituto Butantan is developing a dengue vaccine candidate in Brazil, TV003, which is in an ongoing Phase III clinical trial. Merck & Co., Inc. will provide funds to Instituto Butantan for its development.
Presence of key players such as F. Hoffmann-La Roche Ltd, Bayer AG, GlaxoSmithKline plc, Novartis AG, Pfizer, Inc., Eisai Co. Ltd., Sanofi, Astellas Pharma, Takeda Pharmaceutical Company Limited, and Gilead Sciences is expected to fuel to the overall market growth. Involvement of these players in new product development is considered to be the contributing factor for the NTD treatment market.
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Key Takeaways from the report:
- Dengue held the largest segment share in 2018 owing to its increasing prevalence rate
- Buruli ulcer is estimated to be the fastest growing segment over the forecast period owing to rising awareness about the disease
- In 2018, drugs were anticipated to be the largest product type segment
- Vaccines are estimated to be the fastest growing segment over the forecast period due to strong presence of pipeline products
- Asia Pacific dominated the neglected tropical disease treatment market in 2018
- Latin America is estimated to witness the fastest growth over the forecast period
- MEA held the second largest regional share in 2018 due to increasing burden of neglected tropical diseases in this region
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Grand View Research has segmented the global neglected tropical disease treatment market based on disease, product type and region:
Neglected Tropical Disease Treatment Disease Form Outlook (Revenue, USD Million; 2015 – 2026)
- Buruli ulcer
- Chagas disease
- Human African trypanosomiasis (sleeping sickness)
- Soil-transmitted helminthiases
Neglected Tropical Disease Treatment Disease Product Type Outlook (Revenue, USD Million; 2015 – 2026)
Neglected Tropical Disease Treatment Disease Regional Outlook (Revenue, USD Million; 2015 – 2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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