MarketResearchFuture.com adds “Leprosy Treatment Market – 2018 Global Analysis, Growth, Trends and Opportunities Research Report forecasting to 2023” reports to its database.
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Considering all these factors the market for leprosy treatment is expected to reach $ 3.5 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 3.2 % during 2017-2023.
The recent market developments has necessitated a ‘see through’ approach so as to avoid the slippery slope generated by the changing paradigms resulting from the powerful forces of economy, business models, competition and others. “Market Research future” presents its latest report titled “World Leprosy Treatment Market –forecast till 2023” to help clear the blur resulting from these developments and to give the reader a clear picture of the possibilities and nuisances lying ahead!
Global Leprosy Treatment Market – Overview:
Leprosy Treatment is a chronic infection caused by Mycobacterium lepromatosis or Mycobacterium leprae bacteria. Leprosy is principally a granulomatous disease. Leprosy produces skin sores, nerve damage, and muscle weakness
The market for leprosy treatment is growing a healthy growth due to a host of factors such as increasing prevalence of leprosy. Additionally, rising interference of various governments programs to eliminate leprosy around the world, and rising demand for well-developed healthcare sector is pushing the growth of leprosy treatment market. Similarly, rising involvement of market players in developing advanced products and treatments, and rising demand for newer technologies are likely to enhance the growth of leprosy treatment market.
According to World Health Organization, around 134,752 cases of leprosy were reported in India as of 2014.These rising prevalence of leprosy is likely to enhance the growth of leprosy treatment market.
However, factors such as stigma related to leprosy is likely to hamper the growth of Leprosy treatment market.
Key Market Players:
There are various market players operating in the global leprosy treatment market. Some of the key market players in this market are: Macleods Pharmaceuticals, Glaxo Smithcline Pharmaceuticals Ltd.,Acme Pharmaceuticals, IDPL, Astra Zeneca Pharma India Ltd., Lark Laboratories (UIndia) Ltd., Genetic Pharma, and Novartis International AG.
Novartis AG is a leading healthcare manufacturer which is engaged in the development and manufacturing of a range of healthcare products worldwide. The firm offers products for various applications such as in immunology, oncology and rare diseases, ophthalmology, dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines. The company has focused on various inorganic and organic growth strategies to enhance its product portfolio and gain foothold in various geographies. For instance in the year 2015, Novartis AG entered into an agreement with World Health Organization (WHO). Under this agreement, Novartis aims to distribute multidrug therapy (MDT) to all leprosy patients worldwide until the end of 2020 for free of cost. This agreement increases the firm’s customer base and widens the company’s geographic presence. Additionally, in 2014, Novartis launched leprosy post-exposure prophylaxis (LPEP) program, which aims to address early detection and treatment, contact tracing and preventative treatment. This program launch enhances the firm’s customer base and widens its geographic presence and also aims to address the customer needs.
GlaxoSmithKline Pharmaceuticals Limited is a healthcare company which is engaged in the production and manufacturing of pharmaceutical products and vaccines. The firm offers its products all over the world. The company offers products in three segments, namely, pharmaceuticals, vaccines and consumer healthcare .The firm has focused on various growth strategies such as expansions, product launches, acquisition and collaboration to enhance its product portfolio and widen its foothold in various geographies. For instance in 2015, the firm partnered with Center for Infectious Disease Research, to focus solely on infectious disease research. This partnership is likely to enhance the firm’s product portfolio and business across different geographies.
What makes our report unique?
1) An extensive research study on the Global Leprosy Treatment Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Leprosy Treatment Market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
Leprosy treatment market is segmented into four key regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa. Globally, the U.S. is the largest market for leprosy treatment owing to increasing incidence of leprosy and increasing need for technological advancements. Similarly, increasing healthcare spending is likely to grow the demand for leprosy treatment market. For instance, according to CMS (Centres for Medicare and Medicaid Services) U.S. health care spending increased 4.3 percent to reach USD 3.3 trillion per person in 2016.
Europe accounts for the second largest market due to advanced technology, new product innovation, growing prevalence of leprosy and other infections and rising healthcare expenditure. Additionally, involvement of market leaders to enhance their products, growth in healthcare infrastructure has driven the growth of leprosy treatment market. .For instance, according to the Organization for Economic Co-operation and Development (OECD), Germany incurred a healthcare expenditure of over EUR 321 billion in 2014, followed by France which recorded the second highest level of current healthcare expenditure of EUR 237 billion.
Asia pacific is expected to grow at a faster rate due to rising leprosy cases and growing government initiatives. According to World Health Organization, around 59% of the new cases were reported from India. According to the Leprosy Mission Trust, around 127,000 new occurrences of leprosy were reported from India during 2013–2014. The National Leprosy Eradication Programme (NLEP) is one such initiative by the Indian government that aims to eradicate the disease from the country by 2018.These rising government initiatives and rising cases of leprosy are likely to enhance the growth of leprosy treatment market.
On the other hand, the Middle East & Africa is expected to witness limited growth due to limited access to the healthcare resources and lack of awareness about rare diseases. In the Middle East, the growth of the market is driven by increasing availability new diagnostic and treatment methods.
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