Global Neglected Tropical Disease Treatment Market worth USD 2.13 Billion, at 5% CAGR during 2019-2023 | Technavio

LONDON–(BUSINESS WIRE)–#DiseaseTreatment–According to Technavio Research Report ” Global Neglected
Tropical Disease Treatment Market by type (antiparasitic drugs,
antibacterial drugs, and antiviral drugs) and geographic regions (ROW,
Asia, and North America) is witnessed to grow by USD 2.13
billion, at a CAGR of 5% from 2019 to 2023”.

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Global neglected tropical disease treatment
market: Growing development of non-therapeutic approaches for addressing
the root disease causes

Various preventive measures have been taken to identify and address the
root causes of neglected tropical diseases. People living in rural and
remote areas are more prone to these diseases due to lack of proper
sanitation, clean water, and vector control, in turn, leading to poor
disease control. This calls for the need to identify non-therapeutic
approaches and address the root causes of disease. Such initiatives will
eventually drive market growth during the forecast period.

“Several missions are being initiated to reduce dengue-related
mortality and morbidity in emerging economies including India. These
initiatives involve providing mosquito nets, access to clean water, and
facilitating sustainable sanitation practices. With such initiatives and
approaches, several neglected diseases will be eradicated from advancing
economies,” says a senior research analyst at Technavio.

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Global neglected tropical disease treatment
market: Segmentation analysis

This market research report segments the global
neglected tropical disease treatment market by type (antiparasitic
drugs, antibacterial drugs, and antiviral drugs) and geographic regions
(ROW, Asia, and North America).

ROW led the market in 2018, followed by Asia and North America
respectively. The large market share of ROW can be attributed to the
high prevalence of neglected tropical diseases due to poor sanitation
facilities in the region.

Global neglected tropical disease treatment
market: Initiatives towards increasing awareness and access to medicines

A key factor driving the growth of the global neglected tropical disease
treatment market is the growing initiatives towards increasing awareness
and access to medicines for neglected tropical diseases. Neglected
tropical diseases are infectious diseases that are highly prevalent in
tropical and subtropical countries. The diseases most commonly occur in
the rural populations due to poor housing, improper sanitation, and
unsafe water. Therefore, the high prevalence, has made it necessary for
organizations to raise awareness and increase access to medicines in
these countries. Several organizations including WHO, UNDP, and GHIT are
launching initiatives to improve the access to medicines, vaccines, and
diagnostics for neglected tropical diseases in the low- and
middle-income countries. Such awareness programs across the globe will
eventually drive market growth during the forecast period.

Few Major Players for the Global Neglected Tropical Disease Treatment
Market are:

• Bayer AG
• F. Hoffmann-La Roche Ltd.
• GlaxoSmithKline Plc
• Novartis AG
• Pfizer Inc.

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Biotechnology & Life Sciences

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