Market Insights:
Schistosomiasis is an infection acquired by people while coming into contact with the water-containing larva of schistosomes. The adult form of the worms lives inside the intestines and urinary tracts of humans. According to the World Health Organization, nearly 200,000 people die due to schistosomiasis annually. The Drugs for Schistosomiasis market is estimated to reach at USD 103.4 million in 2027 from USD 73.4 million in 2020. The market is anticipated to grow at a CAGR of 5.6% during the forecast timeline.
Increasing Incidences of Water Contamination
Schistosomiasis is one of the most commonly found disease in the world. Schistosomiasis prevalence is quite higher in tropical and sub-tropical region across, Asia, Africa and Latin America. Schistosomiasis is mainly spread by parasitic worms. One of the most common way of Schistosomiasis transmission and subsequent infection is being in contact with water wherein freshwater snails have released parasites in the form of larva. Fresh water can also be contaminated by the people already suffering from Schistosomiasis diseases. With rising incidence of such contamination, the transmission is taking place at rapid pace.
Increase in Prevalence Rate
Schistosomiasis disease prevalence rate is quite high. Despite of significant mortality, Schistosomiasis is one of the most neglected disease in the world. Prevalence of Schistosomiasis usually higher in underdeveloped countries on the account of poverty, lack of hygiene, inadequate health awareness among people, etc. All over the world, more than 700 million people are vulnerable to being infected with Schistosomiasis. Over 200 million people have been infected with Schistosomiasis across 75 countries and more than 60% of them have developed the disease.
Impact of COVID 19
COVID 19 has tumbled the Schistosomiasis drugs market with sharp decline of over 10% in total revenue generation. Although market size has shrunken in 2020, the demand Schistosomiasis drugs has not declined. The Schistosomiasis market reported negative growth rate on the account shut down of production facilities, hurdles in supply chain, lack of mobility and stringent restriction of cross border trade. However, as the vaccination speed goes up the production and demand are likely to be restored gradually.
Middle East and Africa Region to Held Dominant Position
With higher prevalence rate in the world, Middle East & Africa is one of the leading market of drugs for Schistosomiasis. More than 75% share in total number of people generating infection of Schistosomiasis, Africa is leading consumer of drugs of Schistosomiasis. Lack of health awareness, poverty, and socioeconomic reasons are resulted in to neglection toward the risk of being infected with Schistosomiasis. Children’s and teenagers are most susceptible to the risk of Schistosomiasis development. On the contrary, despite of lower prevalence the expenditure on the drugs for Schistosomiasis is higher in North America and Europe. Asia Pacific and Latin America also witnessing considerable prevalence of Schistosomiasis next to Africa.
Praziquantel to Led the Market Growth
There are large number of drugs available for the treatment of Schistosomiasis. Some of the major drugs for Schistosomiasis include but not limited to Biltricide, Artemisinins, Metrifonate, Oxamniquine and Praziquantel. However, Praziquantel has been found to be most effective drug with broad spectrum of Schistosomiasis diseases to be treated with. It held over 25% share in total revenue generated by all drugs for Schistosomiasis in 2020.
The increasing number of schistosomiasis patients drives the global demand for Drugs for Schistosomiasis
The improving healthcare facilities in developing countries around the world is increasing the number of detections of schistosomiasis patients. Increasing pollution in rivers, lakes, and ponds in tropical and sub-tropical countries is providing breeding grounds for Schistosoma species that cause the infection. Nearly 700 million people live in endemic countries and it increases the risk of infection. Africa and the Middle East account for 42.1% share of the total revenue generated by the global Drugs for Schistosomiasis industry.
Research & Development is the Key to Success in the Market
Some of the most renowned players operating in this industry include Bayer AG, Chandra Bhagat Pharma Ltd, EIPICO, Merck & Co Inc, Pfizer Inc, Par Pharmaceutical Inc, Samarth Pharma Pvt Ltd, Sanofi SA, Shin Poong Pharm Co Ltd, and Taj Pharmaceuticals Ltd. Key players are focusing on research & development as key to success in this industry. Many players have generated strong pipeline of drugs for Schistosomiasis. Secondly, market players infiltrating the industry with developing deep routed distribution network to reach end-users of last mile.
Frequently asked questions about global Drugs for Schistosomiasis industry
- What are the consequences of COVID 19 on global Drugs for Schistosomiasis industry?
Ans: Drugs for Schistosomiasis market has been impacted notably with decline in market size by 10%. COVID 19 affected the production, logistics and distribution of drugs for Schistosomiasis resulting into significant losses for the industry participants
- Who are the top five players in the global Drugs for Schistosomiasis industry?
Ans: Major players mapped in the report include but not limited to the Bayer AG, Chandra Bhagat Pharma Ltd, EIPICO, Merck & Co Inc and Pfizer Inc.
- Which is the fastest growing application market for global Drugs for Schistosomiasis industry?
Ans: Hospital’s segment is marching at a rapid pace and likely to keep its dominance over the forecast period
- Which is the leading regional market for global Drugs for Schistosomiasis industry?
Ans: Middle East & Africa was leading geographic market for the drugs for Schistosomiasis, reason being the highest prevalence rate of Schistosomiasis in the region
- What will be the CAGR (2021 - 2027) of in global Drugs for Schistosomiasis industry?
Ans: The global Drugs for Schistosomiasis market report provide CAGR of 5.6% from 2021 to 2027
- What are the key growth pockets within global Drugs for Schistosomiasis industry?
Ans: With major prevalence in and around tropical and subtropical regions are most lucrative markets for companies manufacturing drugs for Schistosomiasis
- What are the attractive investment prepositions in the global Drugs for Schistosomiasis industry?
Ans: Research & Development is most important aspect of pharmaceutical industry. Hence ley players are sought after extensive R&D for drugs for Schistosomiasis
