Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Trachoma Treatment Market - Growth, Trends, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
During the time frame of the forecast, the trachoma treatment market is expected to grow at a CAGR of 5.5%.
The COVID-19 pandemic messed up not only the research and development of treatments and medicines for diseases other than COVID-19, but also the global supply chain for pharmaceuticals, which in turn affected the market for trachoma.
For example, an article published in January 2021 by Tropical Medicine & Hygiene said that the coronavirus disease (COVID-19) pandemic messed up community-based efforts to control trachoma.
Thus, the pandemic had a significant impact on the market initially. Currently, as the COVID-19 pandemic has subsided, the studied market is expected to have stagnant growth during the forecast period of the study.
The major factors driving the growth of the market include the increasing incidence and prevalence of trachoma and favorable government initiatives.
The rising prevalence of trachoma is a major factor driving the market's growth. For instance, according to the data updated by the CDC in June 2022, it is estimated that globally, almost 1.9 million people have vision loss because of trachoma every year, and it causes 1.4% of all blindness worldwide every year.
The source also stated that an estimated 136 million people lived in trachoma-endemic areas around the world in 2021 and were at risk of trachoma blindness. Thus, the high prevalence of trachoma around the world is the major factor driving the market's growth.
Also, more efforts by governments around the world are likely to make people more likely to use trachoma drugs.For instance, according to the data updated by the Commonwealth of Australia in June 2021, trachoma is said to be still occurring in some aboriginal and Torres Strait Islander communities in Australia. The Australian government works with the affected states and territories to identify, treat, and prevent this condition, and they also report to the WHO's program to eradicate trachoma across the world.
Also, the Ministry of Health of the Republic of Kenya said in October 2021 that the fight against trachoma, a disease that can cause blindness, got a boost when Kenya and Uganda started a cross-border mass drug administration exercise.
Trachoma Treatment Market Trends
Oral Route of Administration is Expected to Hold a Significant Share of the Market Over the Forecast Period
The oral route of administration is expected to have a big share of the market because it is the easiest and most popular way to give a drug. It is also easy to make, cheap, flexible in how dosage forms can be made and has the fewest sterility restrictions.
As antibiotics are the first line of therapy for the targeted patient pool, this may boost the revenue growth of the segment. Most of the time, antibiotics, like azithromycin and tetracycline, are used to treat trachoma. Rising government programs to treat trachoma and the growing number of people who have it are the main things driving the segment growth.
According to information updated by the WHO in October 2022, Chlamydia trachomatis bacteria cause trachoma, which is an eye disease. It is considered a public health problem in 42 countries around the world, and it is responsible for the blindness or visual impairment of about 1.9 million people.
Blindness from trachoma is irreversible and cannot be cured. The source also stated that, based on June 2022 data, 125 million people live in trachoma-endemic areas and are at risk of trachoma blindness. Thus, the high prevalence of trachoma is expected to boost segment growth.
Thus, the things we've talked about so far, like the growing number of people with trachoma and the growing number of government programs, are likely to boost segment growth during the study's forecast period.
Middle East and Africa is Expected to Hold a Significant Share in the Market and Expected to do the Same Over the Forecast Period
The Middle East and Africa are expected to hold a significant market share in the trachoma treatment market, as it is the most affected region with trachoma cases. The high prevalence of trachoma in the region and the rising initiatives by governments for the treatment of trachoma is expected to boost the market growth in the region.
A selection of companies mentioned in this report includes
- Allergan (AbbVie Inc.)
- Apotex
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd
- Sandoz Inc. (Novartis AG)
- Arbor Pharmaceuticals Inc. (Azurity Pharmaceuticals, Inc.)
- Fresenius Kabi AG
- Merck & Co. Inc.
For more information about this report visit https://www.researchandmarkets.com/r/kpf5vu
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