In 2023, the global Babesiosis Treatment market is expected to be worth US$ 1.21 billion. With continuous advancements in drugs and biotechnology for the treatment of babesiosis, the overall scope for the Babesiosis Treatment Market is expected to grow at a CAGR of 5.0% between 2023 and 2033, totaling approximately US$ 1.98 Billion by 2033.
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The babesiosis treatment market is expected to grow significantly during the analysis period, owing to factors such as the rising prevalence of babesiosis and lyme disease among individuals worldwide. Increased research efforts to develop a good therapy for babesiosis are also expected to boost market growth in the coming years.
Lyme disease, according to the International Lyme and Associated Disease Society (ILADS), is frequently difficult to diagnose and treat, resulting in persistent infections and babesiosis disease. Individualized treatment is recommended by ILADS based on the severity of symptoms, tick-borne coinfections, and the patient’s response to treatment.
However, no single antibiotic or combination of antibiotics appears to be effective in curing Lyme disease. As a result, the prevalence of Lyme disease and babesiosis, as well as the large scope for developing the ideal antibiotic for the treatment of these diseases, are expected to propel the market’s revenue share during the forecast period.
Factors such as an increase in foci transmission were discovered to be expanding, resulting in an increase in babesiosis disease prevalence, which is expected to contribute to the Babesiosis treatment market. Furthermore, the increasing prevalence of lyme disease and babesiosis around the world has prompted several companies to work together to develop vaccines for the diseases. Furthermore, the companies have been pouring money into their babesiosis disease therapy initiatives.
Additionally, human babesiosis is an emerging infection for which numerous novel pharmacological compounds are being developed, and are being evaluated for its treatment. This is one of the major factors that is likely to stimulate the global market demand in the forthcoming years. In addition, the population of age fifty is more prone to this infection, which in turn is expected to foster the market growth. For the management of Babesiosis, two microbial regimens namely atovaquone and azithromycin and the combination of quinine and clindamycin are found highly effective, which are projected have a positive impact on the market.
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Key Takeaways from the Market Study
- Global Babesiosis Treatment Market was valued at US$ 1.16 Billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 2.8%
- By Route of Administration, the Oral segment of the market constitutes the bulk of the market with a market share of 45%
- By Distribution Channel, the Hospital Pharmacy segment dominates the market with a share of 44%
- From 2023 to 2033, Babesiosis Treatment services are expected to flourish at a CAGR of 5.0%.
- By 2033, the market value of Babesiosis Treatment is expected to reach US$ 1.98 Billion.
The increasing frequency of the babesiosis, and rising investments from government organizations and large corporates for developing advanced treatment are the major factors that are anticipated to boost the market growth in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the Babesiosis Treatment market are GlaxoSmithKline LLC, Amneal Pharmaceuticals LLC., Apotex, Glenmark, Hetero, Lupin, Camber Pharmaceuticals, Inc., Galderma, Fresenius Kabi, Abott, Pfizer, Inc., Taro Pharmaceutical Industries, Otto Pharmaceutical, Medpharma, Endure Medical, Huajin Pharmaceutical, Mylan Pharmaceutical Inc., Tabuk Pharmaceutical, Aurobindo Pharma Ltd., and Epic Pharma LLC., among others.
Recent Developments:
- In June 2021, Tarsus Pharmaceuticals, Inc., a late-stage biopharmaceutical company, announced that it had begun dosing participants in its first clinical trial for TP-05, a novel oral, non-vaccine therapeutic for the prevention of Lyme disease. TP-05’s mission is to focus on unmet needs and apply established science and cutting-edge technology to revolutionize patient treatment, starting with eye care.
Key Segments Covered in the Babesiosis Treatment Industry Analysis
Babesiosis Treatment Market by Drug Type:
- Branded
- Generic
Babesiosis Treatment Market by Route of Administration:
- Oral
- Injectable
- Others
Babesiosis Treatment Market by End-Users:
- Hospitals
- Academic Research Institutes
- Home Healthcare
- Others
Babesiosis Treatment Market by Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Babesiosis Treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the Babesiosis Treatment market, the market is segmented on the basis of drug type (branded, and generic), route of administration (oral, injectable, and others), end-users (hospitals, academic research institutes, home healthcare, and others), and distribution channel (hospital pharmacy, retail pharmacy, online pharmacy, and others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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