Global Leishmaniasis Treatment Market Is Expected to Reach USD 223.88 million by 2027 : Fior Markets

Newark, NJ, Aug. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global leishmaniasis market is expected to grow from USD 114.02 million in 2019 and to reach USD 223.88 million by 2027, growing at a CAGR of 8.8% during the forecast period 2020-2027.

Leishmaniasis treatment market is witnessing significant growth from the past years. This growth is attributed to the migration pattern of the population for medical tourism from one place to another. The availability of various treatment options is attracting the government to make investments. However, leishmaniasis is distributed in a way that affects some of the poorest population on earth and is associated with a lack of financial resources and malnutrition. This is one of the most neglected diseases, with around 350 million people considered at risk of contracting the disease. Alteration of local ecology by human-driven forces like deforestation increases the inflow of leishmania transmitting vectors from rural areas to semi-urban and urban settlements.

A parasitic disease caused due to an infection with Leishmania parasites and is transmitted through the bite of infected female phlebotomine sandflies is known as Leishmaniasis. It is a major complex of protozoal vector-borne diseases that affects both humans as well as animals. The infection of leishmaniasis ranges from causing no symptoms to severe and even life-threatening complications. The disease's treatment depends on various factors like co-existing infections, environmental conditions, geographic locations, and the parasitic species.

Global leishmaniasis treatment market is expected to witness significant growth, owing to increase in R&D funding by the agencies, new development in the therapy area, introduction to new chemical entities, and favourable government initiatives. Adopting strategic initiatives by the players in the market like expansion and collaboration with government agencies propels the market growth. Lack of awareness in developing countries and long treatment duration hampers market growth. Developing nations have differential risk environments for the management of infectious diseases, thus, expected to boost the market. The outbreak of epidemic disease owing to population displacement, malnutrition, week immune system, lack of financial resources, and poor housing is responsible for market growth.

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Key players operating in leishmaniasis treatment market include Sequus Pharmaceuticals Inc., Novartis, Gland Pharma Limited, Paladin Labs Inc.¸ Sanofi S.A., Gilead Life sciences and Lifecare Innovations Private Limited, and Enzon Pharmaceuticals Inc. To gain the significant market share in the global leishmaniasis treatment market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. 

• For instance, in March 2016, Profounda Inc. announced the availability of Impavido, approved by FDA, and oral treatment for mucosal, visceral, and cutaneous leishmaniasis.
• In February 2020, Novartis entered into an agreement with Drugs for neglected disease initiatives, a non-profit R&D organization to develop LXE408 intended for visceral leishmaniasis collaboratively.

Cutaneous segment dominated the market and held the largest market share in the year 2019
On the basis of disease type, the global leishmaniasis treatment market is segmented into cutaneous leishmaniasis, mucosal leishmaniasis, and visceral leishmaniasis. Cutaneous leishmaniasis segment dominated the market and held the largest market share in the year 2019. This is attributed to the treatment of disease with new and better molecules.

Serological Tests segment dominated the market and held the largest market share in the year 2019
On the basis of pathological tests, the global leishmaniasis is segmented into serological tests, parasitological evaluation, DNA-based methods, immunological methods, others. Serological test segment dominated the market and held the largest market share in the year 2019. This was attributed to growing demand for pathological testing for the diagnosis of various infectious diseases. Parasitological evaluation is expected to witness significant growth, as it is the standard test for the diagnosis of disease. 

Hospitals segment dominate the market and held the largest market share in the year 2019
On the basis of end-user, the global leishmaniasis treatment market is segmented into clinics, hospitals, diagnostic laboratory, and others. Hospitals segment dominate the market and held the largest market share in the year 2019. This is attributed to existence of highly skilled healthcare professionals, improved coverage for hospital-based healthcare services, well-resourced diagnostic rooms, and high purchasing power. 

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Regional Segment of Leishmaniasis Treatment Market

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global leishmaniasis market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region accounted for the major share in the year 2019. This is attributed to rising prevalence of unhealthy lifestyles, a large number of chronic diseases, government regulations concerning the development of healthcare, an increasing number of FDA approvals. Europe accounted for the second-largest share in the year 2019. This is attributed to increased awareness about the availability of different therapies, rising awareness about innovations and advancement, and increasing incidences of disease across the world. The Asia-Pacific region is anticipated to witness significant growth, owing to and strategic initiatives by key players to improve healthcare infrastructure and increasing awareness about the treatment available in developing economies like India and China. 

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About the report:
The global leishmaniasis treatment market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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