by Leishmaniasis is a neglected tropical disease infecting millions of people worldwide annually. It is caused by protozoan parasites of the genus Leishmania and transmitted by the bite of infected female phlebotomine sand flies. The infection results in skin lesions, mucosal ulcers, and visceral disease. There are three main forms of leishmaniasis – cutaneous, mucocutaneous, and visceral. The cutaneous form is common in many parts of the tropics and subtropics and is characterized by skin sores that may develop into open wounds, while mucocutaneous affects mucous membranes of the nose, mouth, and throat. Visceral leishmaniasis, the most severe form of the disease, results in damage to internal organs such as the liver, spleen, and bone marrow if left untreated. There is a need for safe and effective treatment options against this debilitating disease.
The global Leishmaniasis Treatment Market is estimated to be valued at US$ 79.95 Bn in 2024 and is expected to exhibit a CAGR of 22.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Global Leishmaniasis Treatment Market Size is the growing research on novel treatments. Currently, the drugs used to treat the disease have issues of high toxicity, complex treatment regimens requiring cold-chain maintenance, and emerging drug resistance. Companies are conducting clinical trials on newer drug formulations and drug delivery mechanisms to develop more efficacious, safer, and affordable therapies. For instance, Intrabio is developing a nanomedicine-based intranasal gel using cyclodextrin for the effective treatment of cutaneous leishmaniasis. Sarepta Therapeutics is developing SRP-9001 to potentially treat leishmaniasis through exon skipping. Such ongoing research and development efforts focusing on newer compounds are expected to bring better treatment options and drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Pharmaceutical industry have high entry barriers like rigorous approval processes, high R&D costs make it difficult for new companies to enter the market.
Bargaining power of buyers: Leishmaniasis treatment has few alternative options, so patients have low bargaining power.
Bargaining power of suppliers: Major pharmaceutical companies developing treatments have significant bargaining power over generic drug makers and contract manufacturing organizations.
Threat of new substitutes: Though alternate treatments exist, they have limited effectiveness. Development of new drugs acts as potential threat.
Competitive rivalry: Major players focus on novel drug discovery and acquisition to maintain competitive edge in the crowded market.
Key Takeaways
The global Leishmaniasis Treatment market is expected to witness high growth. The market size is forecasted to reach US$ 79.95 Bn by 2024, growing at a CAGR of 22% during the forecast period.
Regional analysis: North America region currently dominates the market due to higher adoption of advanced treatments. However, Asia Pacific is expected to witness fastest growth owing to rising incidence of leishmaniasis infections in the region.
Key players: Key players operating in the Leishmaniasis Treatment market are Johnson & Johnson, Intrabio, Cyclo Therapeutics, Inc., Kempharm, Inc., Azafaros B.V., StrideBio. Sarepta Therapeutics, Inc. Major players are focused on developing combination therapies and treatments targeting resistant infections to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
