Rockville, MD, Aug. 06, 2024 (GLOBE NEWSWIRE) -- In its new study, Fact.MR states that the global cutaneous and systemic leishmaniasis market is estimated to reach a value of US$ 368.6 million in 2024 and thereafter expand at a CAGR of 2.8% from 2024 to 2034.
Treatments for cutaneous and visceral leishmaniasis are in greater demand worldwide due to rising awareness, better diagnoses, and greater access to healthcare in endemic areas. Millions of people worldwide are afflicted by this parasitic illness, which is spread by sandflies and is most common in tropical and subtropical regions.
The pharmaceutical industry has increased its research and development efforts in response to the increasing number of cases that are being detected and reported. Clinical trials are beginning to show promise for new drug formulations and combination therapy, providing hope for more effective and bearable treatment alternatives.
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Health results for impacted populations are greatly improving as a result of the increasing availability of therapies. While timely treatment of visceral leishmaniasis is saving lives in vulnerable groups, timely intervention can stop the progression of cutaneous leishmaniasis to deformity lesions.
Wider treatment coverage contributes to wider public health objectives by lowering the spread of disease. Global health programs that focus on neglected tropical illnesses such as leishmaniasis are improving the prognosis for affected individuals and at-risk groups.
Key Takeaways from Market Study
- The global cutaneous and systemic leishmaniasis market is projected to generate revenue of US$ 487.5 million by the end of 2034.
- North America is evaluated to account for 53% of the global market share by 2034-end.
- The market in East Asia is projected to reach a size of US$ 88 million by 2034-end.
- By 2034, the market in Canada is analyzed to reach a valuation of US$ 25 million.
- Based on indication, the cutaneous leishmaniasis segment is estimated to reach US$ 6 million in 2024.
- Hospital pharmacies are estimated to hold 8% of the market share in 2024.
“Clinical testing of new medications and therapies for cutaneous and systemic leishmaniasis opening new avenues for disease management, thus driving market growth,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cutaneous and Systemic Leishmaniasis Market:
Key industry participants like Gilead Sciences, Inc.; Profounda Pharmaceuticals; Knight Therapeutics Inc.; Janssen Global Services, LLC; Albert David Ltd.; Jubilant Life Sciences Ltd.; Novartis AG; Sanofi; Endo Pharmaceuticals Inc.; Bristol-Myers Squibb Company; United Biotech Pvt. Ltd., etc. are driving the cutaneous and systemic leishmaniasis industry.
Focus on Development of Nanomedicine Therapies for Reduced Side Effects
New developments include therapies based on nanomedicine, which improve drug delivery and reduce adverse effects. Researchers are also exploring immunomodulatory treatments that leverage the body's defenses against the parasite.
In diagnostics, rapid tests are being developed, potentially revolutionizing early detection in remote areas. Gene editing techniques like CRISPR are being investigated to create genetically engineered parasites for vaccine development. Efforts to enhance vector control are promising, with insecticide-treated materials and biological control methods reducing sandfly populations. Clinical research indicates that combination therapies, which merge new and established drugs, are more effective.
Cutaneous and Systemic Leishmaniasis Industry News:
The cutaneous and systemic leishmaniasis market is competitive, with a few major players holding dominant positions. To meet product demand, key players are adopting innovative strategies, including successful technology and distribution partnerships, investments in research for developing treatments, and new product launches. They are also focusing on adapting to evolving market trends, such as new treatment methodologies for cutaneous fibrosis and cutaneous mastocytosis.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cutaneous and systemic leishmaniasis market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on drug class (pentavalent antimonials, antifungal drugs, anti-leishmanial/antimicrobial drugs), route of administration (oral, injectable, topical), indication (cutaneous leishmaniasis, mucosal leishmaniasis, visceral leishmaniasis), and distribution channel (hospital pharmacies, retail pharmacies, drug stores, online pharmacies), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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