Int'l : +1-503-894-6022 | Toll Free : +1-800-792-5285 | help@alliedmarketresearch.com
A10541 | Pages: NA | Charts: NA | Tables: NA |
Neglected tropical diseases (NTDs) are a diverse group of communicable diseases that prevail in tropical and subtropical conditions in 149 countries, which affect more than one billion people and cost developing economies billions of dollars every year. NTDs such as dengue, lymphatic filariasis, trachoma, and leishmaniasis are called neglected, as they generally afflict the world's poor and historically have not received as much attention as other diseases. NTDs tend to thrive in developing regions of the world, where water quality, sanitation, and access to healthcare are substandard. However, some of these diseases are prevalent in areas of the U.S. with high rates of poverty.
COVID-19 scenario analysis:
Pharmaceutical and biotechnological companies together with governments around the globe are working to combat with the COVID-19 outbreak, from supporting the development of vaccines to schedule for medicines supply chain challenges. Furthermore, there are around 115 vaccine candidates and other 155 molecules that are kept in the R&D pipeline in the coming years. Moreover, commonly used drugs such as hydroxychloroquine have seen huge boost in demand for the management of COVID-19. Increase in demand for drugs has been witnessed, which is likely to offer lucrative opportunity for manufacturers of COVID-19 management drugs, as many developed countries are short of these drugs. Owing to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is anticipated to witness a substantial growth in the next few years.
The major factor affecting the industry includes formal recognition of NTDs in the Sustainable Development Goals (SDG), a United Nations Development Programme, as a global target is expected to help the industry gain traction during the forecast period. Furthermore, surge in the number of programs, which are helpful to tackle NTDs is expected to propel the neglected tropical diseases market growth in the next few years. Various R&D programs are conducted that are useful for helping the healthcare industry to completely focus over the cost-efficient therapeutics, which would help the market flourish in the coming years.
Increase in the product launches is expected to fuel the neglected tropical diseases market growth in the coming years. For instance, in February 2019, Novartis announced that the U.S. Food and Drug Administration (FDA) approved Egaten (triclabendazole) for the treatment of fascioliasis in patients six years of age and older. This makes Egaten the only FDA-approved drug for people with this disease, and is expected to facilitate broader access to this important drug not only in the U.S. but also in affected countries worldwide. R&D in the neglected tropical diseases treatment would help the industry to grow at a significant rate in the coming years.
Increase in the mergers and acquisitions would help the companies gain maximum attention of the population and help the industry to flourish in the next few years. For instance, in April 2017, Merck, a leading science and technology company, announced collaboration with Drugs for Neglected Diseases initiative (DNDi) to accelerate the research process and reduce costs in finding new treatments for neglected tropical diseases leishmaniasis and Chagas disease, which 450 million people are at risk of contracting.
DNDi is a collaborative, patient-needs-driven, non-profit drug R&D organization for neglected diseases. Through the collaboration with DNDi, Merck is working with a network of leading, internationally recognized experts in this area. In addition, Merck is supporting local R&D capacity-building via DNDi’s network of centers of expertise in R&D for NTDs in the global north and global south. A collaboration with five other pharmaceutical companies (Eisai, Shionogi, Takeda, AstraZeneca, and Celgene), the DNDi NTD Booster experiments with a new open-innovation approach to drug discovery through a multilateral, simultaneous search process across the member companies.
Key benefits of the report:
Questions answered in the global neglected tropical diseases market research report:
Key Market Segments
Key Market Players