Leprosy Treatment Demand Impels by Rising Patient Pool of Leprosy in India and China, Says Fact.MR
Fact.MR, a global research & consulting firm, in their latest edition of the report, indicated that the leprosy treatment market is slated to foresee an exponential growth in 2021 and beyond. Growing prevalence of leprosy and extending leprosy patients pool from all over the world, emergence of novel technologies and novel treatment options are anticipated to fuel the leprosy treatment industry in the upcoming years.
“Increasing government initiatives as well as accessibility of favourable reimbursement landscape for higher-cost therapies is projected to push the leprosy treatment industry.” states Fact.MR.
Rising Pervasiveness of Skin Diseases Drives Demand
Growing commons of skin diseases is the key aspect fueling the leprosy treatment market in the forthcoming years. The pervasiveness of skin diseases, such as psoriasis and leprosy, has become common in regions such as India and China, which is accountable for the remarkable expansion of the industry.
Global statistics exemplify that 203,600 (96%) of new leprosy cases were from 22 key nations. High occurrences across the world reflects higher incidences of the ailments and foresee very higher pace of transmission. As per the WHO, about 16 Mn instances of leprosy were treated in the past two decades. Governments and governing bodies are focusing on eradicating the existence of the ailment on a worldwide scale. Due to these aspects, the leprosy treatment industry is likely to expand at a notable pace during the assessment period.
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How has Antibactaerial Drug Class Type Emerged Dominant?
Antibacterial drugs are generally prescribed for leprosy treatment by physicians, thus, these drugs are expected to attain highest industry share amid in 2021 and beyond. The most common antibacterial drugs also recommended by WHO multidrug therapy for leprosy are rifampin, dapsone, ofloxacin, clofazimine and minocycline.
Early detection of the ailment is an imperative aspect for efficient treatment, via several drugs are accessible for late stage leprosy patients. Relapse rate, resistance, and side effects are low in antibacterial drugs, thus driving the industry growth.
How is High Patient Pools in India and China Affecting Growth?
India and China are projected to attain highest industry share in revenue terms due to the higher patient pool of leprosy in the regions. The Japan, Mexico and Brazil will attain second highest industry share as a result of growing awareness amid patients in relation to leprosy treatment options accessible in these regions.
GCC and South African regions will reflect a faster growth pace in contrast to other regions because of growing government initiatives for the treatment of the ailment.
The US, The UK, Germany and Russia are the least lucrative for leprosy treatment since a very small number of patients in these regions experience the ailment due to higher standards of living and improved personal hygiene.
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Attaining Product Approval from Regulatory Authority and Partnership and Collaborations Remain Key Focal Areas: Fact.MR Survey
The leprosy treatment market are focusing on partnerships and collaborations to offer better solution for leprosy treatment. Fact.MR’s survey further indicated that the leading companies are engaged in attaining product approval from regulatory authorizes to grow their product portfolio and attain a competitive edge in the market. The updated edition of the report offers comprehensive coverage of the projected to remain key strategies of the market players. A few of the key companies profiled in the report are Macleods Pharmaceuticals and Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Sanofi S.A., Cadila Pharmaceuticals, Bayer AG, GlaxoSmithKline PLC, Johnson & Johnson Services Inc., Eli Lily and Company, Bristol-Myers Squibb and Company, and Pfizer Inc.The latest edition also provides a thorough analysis of the COVID-19 impact on this market.
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Source: Fact.MR