Future Market Insights predicts that the global Filariasis Treatment market demand will experience a 10.1% compound annual growth rate (CAGR) between 2023 and 2033, with an estimated value of US$ 28.68 billion by 2033. The growth in the market is expected to be driven by the rising prevalence of filariasis, improved diagnostic capabilities, and increased awareness of the disease. Furthermore, the availability of effective treatments and advancements in medical technology are expected to result in greater adoption of novel drugs and higher demand for Filariasis Treatments.
Government efforts to prevent and control the spread of filariasis are also anticipated to contribute to market growth. Additionally, increased investment in research and development is expected to lead to the discovery of new ways to treat the disease through the development of drugs and vaccines. Government initiatives aimed at sanitizing and cleaning the environment will also play a role in Filariasis Treatment in the market.
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An ongoing study is exploring mass drug administrations as a treatment option for patients worldwide. This approach, known as mass drug administration (MDA), involves regularly distributing treatment medications to entire populations, regardless of whether they have the disease or not, with the aim of preventing further spread of the disease. Low- and middle-income countries recommend this protocol to prevent lymphatic filariasis, a parasitic disease that can cause limb swelling and disability.
Mass drug administration programs have been organized in districts affected by filariasis in Chhattisgarh to achieve filariasis-free states, and the CHC in Valpoi has begun testing for filariasis at Sayyadwada to prevent the spread of the disease. The Global Health Innovative Technology Fund has also announced additional research funding of US$ 5.3 million for recent neglected tropical diseases, including lymphatic filariasis (elephantiasis) and onchocerciasis (river blindness).
Key Takeaways from the Market Study
- Globally, the Filariasis Treatment market is expected to reach US$ 28.68 billion by 2023.
- Hospitals are expected to account for 72% of all Filariasis Treatments between 2023 and 2033.
- Filariasis Treatment drug market is projected to grow at a CAGR of 3% from 2023 to 2033.
- Over the forecast period, the Asia Pacific Filariasis Treatment market is forecast to grow at a CAGR of 4% during the forecast period.
- European markets are predicted to grow by 26% in market share over the next few years.
“Technological advances, approvals of new drugs, and funding for MAD will contribute to further growth in the Filariasis Treatment market.” comments a Future Market Insights analyst.
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Competitive Landscape
Companies are getting more interested in developing diagnostic techniques. It’s likely that many firms will expand their product lines, acquire other companies, or merge in the near future since they’re all likely to focus on developing new diagnostic techniques.
- GSK plc announced a US$ 1 billion funding commitment over the next decade to speed up the development of new medicines to combat infectious diseases disproportionately affecting low-income countries. In this research, new vaccines and medicines will be developed for the prevention and treatment of malaria, tuberculosis, HIV (through ViiV Healthcare), neglected tropical diseases, and antimicrobial resistance. Most countries in lower-income countries continue to suffer from these diseases, comprising 60% of the global disease burden. Albendazole donations will also be maintained until lymphatic filariasis is eliminated, and the adjuvant will be doubled for use in the RTS, S malaria vaccine by GSK.
Key Players
- Johnson & Johnson Private Limited
- Pfizer Inc.
- Elsai Co Ltd
- Atra Pharmaceuticals
- AbbVie Inc
- K.A. Malle Pharmaceuticals
- Unimark Remedies
- Cipla
- Bausch Health
- Novartis AG
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Filariasis Treatment market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
Key Segments Profiled in the Filariasis Treatment Industry Survey
By Type:
- Drugs
- Vaccine
By Application:
- Hospitals
- Clinics
- Others
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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