According to Future Market Insights, the global Filariasis Treatment Market demand will develop at a 10.1% compound annual growth rate (CAGR) between 2023 and 2033, reaching a value of US$ 28.68 billion by 2033. The rising prevalence of filariasis, enhanced diagnostic capabilities, and increased awareness of the disease are projected to fuel market expansion. Furthermore, the availability of effective treatments and advances in medical technology are projected to lead to increased adoption of novel pharmaceuticals and increased demand for Filariasis Treatments.
Government efforts to prevent and control filariasis spread are also expected to help to market growth. Furthermore, increasing investment in R&D is projected to lead to the discovery of novel ways to treat the condition through the creation of medications and vaccines. Government activities aimed at sanitising and cleaning the environment will also play a role in the market for Filariasis Treatment.
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A current study is looking into mass drug administration as a therapy option for people all around the world. This strategy, known as mass drug administration (MDA), entails delivering treatment prescriptions to entire communities on a regular basis, regardless of whether they have the disease or not, with the goal of preventing further disease transmission. This strategy is recommended for low- and middle-income nations to avoid lymphatic filariasis, a parasite illness that can cause limb swelling and paralysis.
To attain filariasis-free states, mass drug administration programmes have been organised in filariasis-affected districts in Chhattisgarh, and the CHC in Valpoi has begun testing for filariasis at Sayyadwada to avoid disease transmission. The Global Health Innovative Technology Fund has also announced an additional US$ 5.3 million in research funding for current neglected tropical illnesses such as lymphatic filariasis (elephantiasis) and onchocerciasis (river blindness).
Key Takeaways from the Market Study
- The global market for Filariasis Treatment is anticipated to reach US$ 28.68 billion by 2023.
- Between 2023 and 2033, hospitals are estimated to account for 72% of all Filariasis Treatments.
- The market for filariasis treatment drugs is expected to increase at a 3% CAGR between 2023 and 2033.
- The Asia Pacific Filariasis Treatment market is expected to develop at a CAGR of 4% during the projected period.
- Over the next few years, European markets are expected to rise by 26% in market share.
“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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