Number of pages: 100 | Report Format: PDF | Published date: February 10, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 780.1 million |
Revenue Forecast in 2030 |
US$ 1,199 million |
CAGR |
4.9% |
Base Year For Estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments Covered |
Drug Class, Mode of Administration, Distribution Channel, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global human Babesiosis treatment market is valued at US$ 780.1 million in 2021 and is expected to register a revenue CAGR of 4.9% to reach 1,199 million by 2030.
Human Babesiosis Treatment Market Fundamentals
Babesiosis is a tick-borne, malaria-like condition caused by intraerythrocytic protozoan Babesia species. Babesia organisms from vertebrate reservoirs are transmitted to humans by ticks, resulting in a zoonotic infection known as human Babesiosis. The majority of infections are brought on by the Babesia microti species, which is frequently observed in mice. B. divergens, B. venatorum, B. crassa, and B. duncani are further species that have been linked to human infections. Most infections are asymptomatic in healthy people. B. microti-infected individuals appear to have a minor infection and often recover without needing specialized treatment. Treatment is advised for instances that exhibit symptoms, such as fever, chills, fatigue, and headache. The symptoms appear 1–8 weeks after it comes in touch with the parasite that causes the condition. Older patients and immunocompromised patients are more prone to Babesiosis. In severe cases, Babesiosis can also cause hemolytic anemia, due to the reduced number of red blood cells (RBCs) in the body.
Human Babesiosis Treatment Market Dynamics
The increasing prevalence of Babesiosis primarily drives the global human Babesiosis treatment market. The condition is most common in the Northeastern and Midwestern United States and some parts of Europe. For instance, according to 2021 estimates by the National Library of Medicine, almost 20,000 instances of human Babesiosis have been documented in North America alone. Numerous cross-sectional studies have shown that both urban and rural human populations are exposed to Babesia spp., and both immunocompetent and immunocompromised people have been diagnosed with clinical Babesiosis. The United States and Canada, two North American nations, account for more than 95% of all recorded cases globally, making them ground zero for the present outbreak of human Babesiosis, which is mostly caused by B. microtia. Babesiosis is becoming a growing public health problem due to increasing global prevalence and the possibility of human-to-human transmission via blood transfusion.
The geriatric population is highly affected by Babesiosis, which can become so severe in individuals over the age of 50 and in people with compromised immune systems that hospitalization is necessary. One-half of hospitalized patients experience at least one complication, such as renal failure, pulmonary edema, disseminated intravascular coagulation, or splenic rupture. Despite antibiotic therapy, up to 3% of patients are hospitalized for severe Babesiosis.
Increasing research and development in the treatment of Babesiosis also influences the revenue growth of the human Babesiosis treatment market. For instance, researchers discovered that Hygromycin A could selectively destroy the origins of Babesiosis. Additionally, the broad-spectrum antibiotics used to treat Babesiosis have an effect on the microbiota in the human gut and may increase resistance in non-target bacteria. As a result, medical specialists are researching a drug that would have more targeted activity against the Babesiosis-causing agents.
However, in low-income regions, awareness about Babesiosis treatment is comparatively low. Furthermore, since reimbursement policies in the region are less accessible, patients are hesitant to buy high-cost drugs, which is another factor limiting the global human Babesiosis treatment market revenue growth.
Human Babesiosis Treatment Market Ecosystem
The global human Babesiosis treatment market has been analyzed from four perspectives: drug class, mode of administration, distribution channel, and region.
Babesiosis Treatment Market by Drug Class
Based on drug class, the global human Babesiosis treatment market is segmented into antiparasitic drugs and antibiotics.
The antiparasitic drug dominated the global human Babesiosis treatment market in 2021. As Babesiosis is caused by microscopic parasites, it more effectively responds to antiparasitic drugs. Antiparasitic work by eliminating or suppressing the growth of parasitic agents. The segment is further sub-segmented into atovaquone and quinine. The atovaquone sub-segment has dominated the segment owing to its high efficacy in treating the disease. Apart from this, the dominance is also attributed to the high revenue it has generated due to its high prices. Atovaquone is a hydroxynaphthoquinone that interferes with the mitochondrial electron transport chain. Atovaquone prevents the transfer of electrons, which stops the parasites from synthesizing ATP and nucleic acids. Moreover, atovaquone, in combination with azithromycin, is recommended to improve the symptoms of diseases. This drug regimen is offered as first-line Babesiosis treatment, showing effective results.
The antibiotic segment is expected to show a high revenue CAGR during the forecast period. Azithromycin is effective in treating Babesiosis. It kills the parasites that cause the disease, and the effects last longer than other treatments. In addition, azithromycin is relatively inexpensive and widely available, making it a good option for treating Babesiosis.
Babesiosis Treatment Market by Mode of Administration
The global human Babesiosis treatment market, according to the mode of administration, is segmented into parenteral and oral.
The oral segment accounts for the majority of the revenue share of the global market, as most drugs recommended for treating the condition are present in oral form. Moreover, oral medications are convenient to administer and work quickly to reduce the symptoms of Babesiosis. Oral medications also have fewer side effects than other forms of treatment, such as intravenous antibiotics.
Babesiosis Treatment Market by Distribution Channel
Based on the distribution channel, the global human Babesiosis treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the majority of the market revenue share in 2021. The rise in healthcare costs has caused many patients to seek more affordable medications, which has fueled the revenue growth of the hospital pharmacy segment. Additionally, hospital pharmacies’ quality assurance and safety standards provide an additional benefit to patients. Furthermore, the segment’s revenue growth is also supported by high patient footfall in hospitals.
Babesiosis Treatment Market by Region
Regionally, the global human Babesiosis treatment market has been segmented into North America, Europe, Asia Pacific, and the Rest of The World.
North America dominated the market with the highest revenue share in 2021. The human Babesiosis treatment market revenue growth in North America is attributed to the increased prevalence of Babesiosis in North America. This prevalence is majorly due to favorable climatic conditions in North America, which makes it easier for the ticks to carry Babesia. Moreover, this dominance is also supported by the increase in the number of drug approvals. For instance, in April 2020, Food and Drug Administration (FDA) approved Clofazimine, a potential treatment for babesia microti infection in immunocompromised hosts.
The human Babesiosis treatment market in Asia Pacific is expected to show high revenue growth during the forecast period. This is due to the increasing disease prevalence, growing awareness, and the availability of new and effective treatments. Various factors, including climate change and the spread of vector-borne diseases, are driving the increasing prevalence of Babesiosis. Growing public health education and awareness campaigns and the availability of new diagnostic methods and treatments are driving the growing awareness of the condition. The availability of new treatments is driven by advances in medical technology and the development of new drugs.
Human Babesiosis Treatment Market Competitive Landscape
The prominent players operating in the global human Babesiosis treatment market are:
Increase in the prevalence of the disease, rise in the number of drug approvals, and growth in research and development activities are fueling revenue growth in the global market.
GlaxoSmithKline plc, Sun Pharmaceutical Industries Inc., Pliva d.o.o (Teva Pharmaceutical), Pfizer, Inc., and Camber Pharmaceuticals, Inc. are among the leading players in the global market.
The low awareness about Babesiosis treatment in low-income countries, minimal reimbursement policies, and patients’ hesitation in affording high-cost drugs are restraining the global human Babesiosis treatment market revenue growth.
The global human Babesiosis treatment market is expected to register a revenue CAGR of 4.9% during the forecast period from 2022 to 2030.
The antiparasitic drugs segment accounts for the majority of the market revenue share in 2021.
*Insights on financial performance are subject to the availability of information in the public domain