Onchocerciasis Treatment Market Statistics 2028 -
Onchocerciasis, commonly known as river blindness, is a disease caused by infection with Onchocerca volvulus, a parasitic worm. Symptoms of onchocerciasis include bumps under the skin, severe itching, and blindness. Onchocerciasis is the second most common cause of blindness due to an infection after trachoma. The disease is transmitted through the bites of infected blackflies. These blackflies breed along streams and fast-flowing rivers that are close to villages located near agricultural land. In the human body, the adult worms that cause onchocerciasis produce microfilariae (embryonic larvae) that can migrate to the eyes, skin, and other organs. People living in African countries are mostly infected by this disease.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the onchocerciasis treatment market.
Top Impacting Factors
The emergence of effective generic drugs for the treatment of onchocerciasis is one of the factors that is expected to influence the growth of the onchocerciasis treatment market during the forecast period.
Increase in focus of governments in developing nations on creating awareness for onchocerciasis and developing healthcare infrastructure are additional positive factors that are assessed to quicken the growth of the onchocerciasis treatment market.
With these factors influencing the growth of the market, the market capitalization of small players in the market is increasing with a rise in the number of strategic partnerships. Rise in competition between these companies will lead to qualitative developments in the market.
However, one of the drugs that is used for onchocerciasis treatment called ivermectin is known to have troublesome manufacturing procedures, which lead to its high value. With high value comes the confined utilization of this drug, which impedes the onchocerciasis treatment market growth.
Key Market Trends
Different key players in the market have motivated advancements in the field of onchocerciasis therapy. This includes the use of medical campaigns, quick track survey conventions, and government funding in developing nations such as Africa. With government funding, the cost of onchocerciasis treatment drugs can be cut down and the distribution could become easier.
Africa leads the global onchocerciasis market. The robust growth of the market in Africa can be attributed to rise in cases of intense and sustained exposure to blackfly bites. Moreover, there is low awareness in this region regarding onchocerciasis transmission. However, the government is taking initiatives to solve this problem and increase onchocerciasis awareness.
The substantial growth of the onchocerciasis treatment market will be witnessed in South America and Latin America, as the market in these regions is untapped with the growing number of onchocerciasis cases.
Key players in the market are focused on research and development activities for innovations in onchocerciasis therapies. In addition, many players are entering the global onchocerciasis treatment market with a prime focus on developing nations during the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the onchocerciasis treatment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the onchocerciasis treatment market share.
- The current market is quantitatively analyzed to highlight the growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Onchocerciasis Treatment Report
- Which are the leading players active in the onchocerciasis treatment market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the onchocerciasis treatment market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What is onchocersiasis?
- What is the onchocerciasis treatment market prediction in the future?
- What are the current trends and predicted trends?
Onchocerciasis Treatment Market Report Highlights
By Route of Administration
By End User
By DISTRIBUTION CHANNEL
Key Market Players
Par Pharmaceutical Companies, Inc, Taj Pharmaceuticals Limited, Delta Pharma Ltd, Merck & Co., Inc., Mayne Pharma Group, Life Pharmaceutical Company