Onchocerciasis Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: April 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
CAGR |
3.8% |
|
Base Year For Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Drug Class, Distribution Channel, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global onchocerciasis treatment market is expected to register a revenue CAGR of 3.8% during the forecast period from 2023 to 2031.
Onchocerciasis Treatment Market Fundamentals
For centuries, onchocerciasis (river blindness) has been a scourge for people living in regions of the world. The disease-causing parasitic worm is transmitted to humans through the bites of infected black flies. Using a skin biopsy with normal saline is one of the primary diagnostic methods for onchocerciasis diagnosis. Additionally, serological assays can be used to find Onchocerca volvulus antibodies in the blood. These tests help determine parasite exposure and evaluate the effectiveness of therapy.
Control efforts have continued, including the widespread distribution of medication and insecticide-treated bed nets. Diethylcarbamazine, a treatment accessible up to ten years ago, had severe side effects. The introduction of ivermectin, a well-stood, and extremely effective microfilaricidal drug, has completely altered the situation. Ivermectin is now widely regarded as the medication of choice for treating onchocerciasis. People with onchocerciasis now have a much better outlook. Ivermectin use has not only improved the prognosis of people with onchocerciasis. However, it has also resulted in a substantial reduction in disease transmission. This has been made feasible by mass drug administration programs adopted in endemic areas. It is now possible to avoid the high infection loads seen earlier. After effectively implementing elimination efforts for decades, the WHO has confirmed that Colombia (2013), Ecuador (2014), Mexico (2015), and Guatemala (2016) are free of onchocerciasis. When used in mass treatment, ivermectin may also help the epidemiological situation by lowering the level of microfilariae in infected skin and thus decreasing the source of vector infestation.
Onchocerciasis Treatment Market Dynamics
It is widely recognized that onchocerciasis is the fourth major cause of avoidable vision impairment. A little more than 500,000 onchocerciasis victims are visibly disabled, and another 270,000 have developed permanent vision loss due to the disease. Thus, global onchocerciasis treatment market trends are overall positive owing to the high prevalence of onchocerciasis.
The global onchocerciasis treatment market revenue is expected to be driven during the forecast period due to the emergence of effective generic drugs to treat onchocerciasis. Furthermore, the rising prevalence of onchocerciasis in developing nations and government and non-profit initiatives to eradicate the disease is expected to drive the onchocerciasis treatment market. Increased government emphasis in developing countries on raising awareness about onchocerciasis and developing healthcare infrastructure are other positive factors expected to accelerate the onchocerciasis treatment market revenue share.
The introduction of efficient generic drugs for the disease is expected to be a major driving factor for the revenue growth of the onchocerciasis treatment market. Onchocerciasis is becoming more common in developing nations, and efforts by governments and non-profit groups to eradicate the disease are also expected to propel market revenue expansion. Additional positive factors believed to hasten the market revenue growth for onchocerciasis treatments include the increased focus in developing countries on raising awareness of onchocerciasis and building healthcare infrastructure.
Increased R&D spending by big pharma and emerging players, expanded indications for approved drugs, and growing competition between companies producing drugs for the same indications are major factors driving the overall onchocerciasis market. The onchocerciasis treatment market has influenced demand in recent years. During the forecast period, the rising government efforts to eradicate onchocerciasis in developing nations and rising government knowledge of neglected tropical diseases are also expected to spur market revenue expansion further. However, a lack of healthcare infrastructure and difficult access to medication in outlying regions may partially impede market revenue.
However, delay or interruption with control programs in a number of endemic countries witnessing conflict, cross-fringe emphases, and potential growth of organism strains with low helplessness to ivermectin are among the onchocerciasis treatment market challenges. Another market restraint is the co-endemicity of loiasis, another parasitic vector-borne disease, which delays or prevents CDTI execution. These issues might be addressed with brand-new drugs or combinations with a stronger anti-Onchocerca Volvulus effect than ivermectin. The expensive cost of this medication, which limits its use, results from difficult manufacturing processes. There is a chance of serious adverse effects. Government regulations are unclear, doctors often provide inadequate advice when choosing the best drugs, reimbursement coverage varies, and medical technology is still in its infancy accuracy.
Onchocerciasis Treatment Market Ecosystem
This report provides the global onchocerciasis treatment market analysis in terms of revenue, market dynamics, regional landscape, and overall competitive positioning of the major market players. The global onchocerciasis treatment market is analyzed from three perspectives: drug class, distribution channel, and region.
Onchocerciasis Treatment Market by Drug Class
[98676]
Based on the drug classes, the global onchocerciasis treatment market is segmented into anthelmintics and antibiotics. The antihelmintics segment is further sub-segmented into ivermectin and moxidectin.
The anthelmintics segment accounted for the largest revenue share of the global onchocerciasis treatment market in 2022. The preferred medication for treating onchocerciasis as a microfilaricidal substance is thought to be an anthelmintic. The microfilariae of Onchocerca volvulus, the cause of onchocerciasis, are remarkably susceptible to this medication's potency. It might not work against adult worms, though, and it might take several dosages to get rid of the parasite completely. Since microfilariae play a secondary role in the pathogenesis of onchocerciasis, treatment aims to eradicate this stage of the illness to alleviate symptoms, stop the progression of ocular lesions, and stop the spread of the disease. Ivermectin is currently the preferred treatment for onchocerciasis because it successfully eliminates microfilariae. To accomplish long-lasting suppression of microfilariae, however, multiple doses are necessary. Ivermectin has an excellent safety record, and mass drug distribution campaigns have effectively lowered the incidence of onchocerciasis in areas where it is endemic. In addition to ivermectin, it has been demonstrated that doxycycline is also successful at lowering the quantity of Wolbachia bacteria found in adult worms, which reduces microfilariae production and halts transmission.
Onchocerciasis Treatment Market by Distribution Channel
Based on the distribution channels, the global onchocerciasis treatment market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the largest revenue share of the global Onchocerciasis Treatment market in 2022. To provide the proper medications and supplies per set treatment protocols, hospital pharmacies work in conjunction with physicians, nurses, and other healthcare professionals to maximize patient care. This partnership guarantees patients the finest care and efficient treatment management. Hospital pharmacies also have access to a wider variety of medicines and supplies, allowing them to offer patients with uncommon conditions like acromegaly more specialized care. The American Society of Health-System Pharmacists researched hospital pharmacy practices nationally, which revealed that hospital pharmacies also play a significant role in preventing prescription errors and lowering healthcare costs by adopting medication safety protocols and maximizing drug therapy. To enhance treatment outcomes and patient happiness, hospital pharmacists frequently educate patients on medication use and side effects, proof of drug guidance, and instructions. Hospital pharmacies have a significant economic impact on healthcare costs.
Onchocerciasis Treatment Market by Region
Based on the region, the global onchocerciasis treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Latin America, Middle East, and Africa are the prominent regional markets with the largest market revenue share. Onchocerciasis affects more than 37 million people who live near swiftly flowing streams and other waterways in the sub-Saharan region of Africa. According to the WHO, over 99% of infected people live in 31 African countries. Most of these countries are in sub-Saharan Africa, with Nigeria and the Democratic Republic of Congo having the highest cases. Also, the illness has some clusters in Yemen and two countries in Latin America (the Yanomani region of Brazil and Venezuela). It can be found in 13 locations across six distinct countries in Latin America. Onchocerciasis in the Americas has a region spanning the border with Mexico as its most significant epidemiological center. Therefore, the high prevalence and upsurge of the onchocerciasis treatment are responsible for the fast growth in revenue share. Efforts to control and prevent the spread of the disease have been ongoing in these regions for decades. The main reason for fostering the expansion of the regional revenue growth is the high disease prevalence. As a result, there is a higher demand for healthcare products and services, which presents chances for domestic and foreign businesses to grow their global onchocerciasis treatment market revenue share. On the other hand, the region faces significant challenges related to poor healthcare infrastructure and limited access to high-quality healthcare in some regions.
Onchocerciasis Treatment Market Competitive Landscape
The onchocerciasis treatment market is expected to expand steadily on the global level. The development of new medications to treat onchocerciasis has increased the popularity of the pharmaceutical and medical sectors. Different motivating factors, such as quick-track survey conventions, more medical campaigns, government financing, and R&D costs paid by authorized specialists in specific countries, primarily in Africa, have pushed this field's advancement.
Notable market participants operating in the global onchocerciasis treatment include:
Onchocerciasis Treatment Market Strategic Developments
Onchocerciasis, also known as river blindness, is a tropical illness caused by the parasitic worm Onchocerca volvulus.
The demand for advanced therapeutics and robust pipeline drugs are key opportunities for the global onchocerciasis treatment market.
A lack of knowledge about the disease is restraining the revenue growth of the global onchocerciasis treatment market.
Key companies operating the global onchocerciasis treatment market are Merck & Co. Inc., Par Pharmaceutical, Taj Pharmaceuticals Limited, Mayne Pharma Group Limited, and Sanofi.
The global onchocerciasis treatment market is expected to register a revenue CAGR of 3.8% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain