Aspergillosis Treatment Market to Reflect Impressive Growth Rate by 2024
Posted by Sneha Talanakr on April 26th, 2019
Aspergillosis is a medical condition in which infection or allergic reaction is caused due to aspergillus mold which are generally found in the environment. Various types of aspergillosis are allergic bronchopulmonary aspergillosis, allergic aspergillus sinusitis, aspergilloma, chronic pulmonary aspergillosis, invasive aspergillosis, and cutaneous (skin) aspergillosis. According to the Centers for Disease Control and Prevention, allergic bronchopulmonary aspergillosis affects approximately 15% cystic fibrosis patients, 2.5% asthma and tuberculosis patients. Hence, the aspergillosis treatment market is projected to witness strong growth due to increase in number of cases of aspergillosis and increase in treatment options. Moreover, growing awareness about aspergillosis treatment among the population, rising demand for treatment, increasing incidence of aspergillosis, and improvement in its diagnosis methods propel the aspergillosis treatment market.
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Currently, the aspergillosis treatment market is experiencing extensive research and development with significant number of new product introduction. This encourages manufactures to cater to the increasing patient demand for efficient and effective treatment modality. The aspergillosis treatment market is a one of the highly consolidated markets, with significant share held by top industry players such as Pfizer, Inc., Novartis AG, Astra Zeneca plc, Abbott Laboratories, Inc., Merck & Co., and GlaxoSmithKline. Most of the companies undertake considerable research efforts toward development of novel drug regimen coupled with substantial support in terms of funding. This has contributed to the growth of this market. Therefore, high unmet needs for curative treatment of aspergillosis will present significant opportunity in the market. Growth of the global aspergillosis market is likely to be driven by emerging economies in Asia, where the disease prevalence is comparatively high.
Rising incidence and prevalence of aspergillosis explains the need of aspergillosis treatment in the region, and thereby the potential of aspergillosis drugs in the market. Therefore, rising incidence of aspergillosis is a major factor driving the aspergillosis treatment market in the region. Other major factors boosting the market are rising demand for advanced aspergillosis treatment, intra-industry competition, and increasing new entrants. The aspergillosis treatment market is consolidated due to increase in inorganic growth activities such as mergers and acquisitions. However, declining prices led by increasing competition have impacted industry profit margins.
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Therefore, most of the players have adopted the strategy of increasing research activities to develop novel products in the aspergillosis treatment market. The aspergillosis treatment market has recorded continuous growth annually. Moreover, factors which declining cost of aspergillosis treatment, patent loss and increasing number of generic drugs are driving the growth of aspergillosis treatment market. Increasing operational cost and rising number of new entrants such as regional and multinational industry players are the key factors fueling the growth of the aspergillosis treatment market.
The global aspergillosis treatment market has been segmented based on drug class and region. Based on drug class, the aspergillosis treatment market has been segmented into antifungals and corticosteroids. In terms of region, the aspergillosis treatment market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to account for significant share of the aspergillosis treatment market during the forecast period. However, the market in Asia Pacific is projected to expand at a significantly high CAGR during the forecast period. The market study report offers an extensive and in-depth assessment of the aspergillosis treatment market and also contains situational analysis, facts, insights, historical data, and statistically supported market data which is validated through industry key opinion leaders. It also offers market estimations with the help of suitable assumptions and methodologies. The market research report contains deep analysis and thorough information according to market segments such as product type, application and region.
Key players operating in the global aspergillosis treatment market are GlaxoSmithKline, Mylan Pharmaceuticals, Inc., Novartis AG, Abbott laboratories, Eli Lilly and Company, AstraZeneca plc, Pfizer, Inc., Johnson & Johnson Services, Inc., and Takeda Pharmaceutical Company Ltd.
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About the AuthorSneha Talanakr
Joined: April 22nd, 2019
Articles Posted: 279
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