Global Chagas Disease Treatment Market, by Product Type (Benznidazole and Nifurtimox), by Distribution Channel (Hospitals, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 5.67 Mn in 2016 and is projected to exhibit a CAGR of 7.3% over the forecast period (2017-2025), as highlighted in a new report published by Coherent Market Insights. Increasing approval for Chagas disease treatment drugs is expected to be a major factor driving growth of the Chagas disease treatment market.
For instance, in 2017, the U.S. Food and Drug Administration (FDA) granted approval to Chemo Group for its drug benznidazole indicated for the treatment of Chagas disease in patients aged 2-12 years. Currently, according to data published by Centers of Disease Control and Prevention (CDC), in 2013, over 300,000 people are suffering from Trypanosoma cruzi infection in the U.S. Hence, approval of Chagas disease treatment drugs in such key regions is expected to drive growth of global Chagas disease treatment market in the near future.
Browse 22 Market Data Tables and 21 Figures spread through 133 Pages and in-depth TOC on Chagas Disease Treatment Market Product Type (Benznidazole, and Nifurtimox), Distribution Channel (Hospitals, Retail Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025
To know the latest trends and insights prevalent in the Chagas Disease Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/chagas-disease-treatment-market-934
Increasing R&D activities by key players for gaining approval for novel Chagas disease treatment is also expected to drive growth of market. For instance, in 2016, Bayer AG launched phase 3 clinical study evaluating the efficacy and safety of its newly developed medication Nifurtimox, indicated for the treatment of Chagas disease in children of all age groups. 2016, researchers from Saint Louis University Center for Vaccine Development identified a potential new target for vaccines against Chagas disease. The development of such vaccine is expected to create an opportunity for key players to enter in this market. In 2016, Drugs for Neglected Diseases sponsored the clinical trial of Benznidazole in combination with E1224 (fosravuconazole) aiming to improve treatment for Chagas disease. The combination is in Phase 2 clinical trial. Furthermore, increasing launches of novel diagnostic methods such as rapid diagnostic test, and ELISA is expected to increase diagnosis rate for Chagas disease, which in turn is expected to increase demand for its treatment drugs. For instance, in 2016, InBios International, Inc. received 510K clearance from the U.S. Food and Drug Administration (FDA) for its Chagas Detect Plus Rapid Test Kit (CDP).
Key Takeaways of the global Chagas Disease Treatment Market:
The global Chagas disease treatment market is expected to exhibit a CAGR of 7.3% over the forecast period (2017-2025), owing to increasing approval of Chagas disease treatment drugs in key regions. For instance in 2017, U.S. FDA approved benznidazole in the U.S. for treatment of Chagas disease
North America is expected to witness highest growth over the forecast period. This is due to increasing approvals of treatment drugs for Chagas such as benznidazole in 2017, in the U.S. Benznidazole is the only FDA approved treatment indicated for the treatment of Chagas disease.
Key players in the market are focusing on gaining approvals for novel Chagas disease treatment drugs. For instance, in 2016, Drugs for Neglected Diseases sponsored the clinical trial of Benznidazole in combination with E1224, with an objective to improve treatment for Chagas disease. The combination is in Phase 2 clinical trial.
Various private and government organizations are taking initiatives to increase the awareness about Chagas disease and to increase its treatment rate. In April 2018, an international humanitarian organization, Médecins Sans Frontières/Doctors Without Borders (MSF), launched a campaign to increase awareness about the diagnosis and treatment of Chagas disease among Latin American population.
Major players operating in the Chagas disease treatment market include Nortec Quimica SA, Bayer AG, Laboratorio Elea Phoenix SA, Maprimed S.A., and Laboratório Farmacêutico de Pernambuco S/A.
Market Overview
The Asia Pacific Safety Valves Market is expected to witness substantial growth from 2024 to 2034, driven by increasing industrial activities and the rising demand for enhanced safety standards across key sectors. The market is projected to reach USD XX.XX billion by 203...
Market Overview
The Europe Safety Valves Market is projected to witness steady growth from 2024 to 2034, driven by rising demand across critical industries such as oil and gas, energy and power, and water treatment. With increased focus on safety and regulatory compliance, the market is...
Market Overview
The North America Safety Valves Market is anticipated to grow significantly from 2024 to 2034, driven by increasing demand across key industries such as oil & gas, energy & power, and water & wastewater treatment. Projected to reach USD XXX.XX million by 2034 from USD XX...
Market Overview
The Global Safety Valves Market is expected to grow significantly from 2024 to 2034, driven by rising demand across various industries including oil & gas, energy & power, and chemicals. In 2024, the market is valued at USD XX.XX billion, projected to reach USD XX.XX bil...
The Industrial Sludge Treatment Services Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape...
The Domestic Sewage Sludge Treatment Services Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive land...
The Treatment Management System Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive landscape, manufac...
The Hospital Treatment Fee Evaluation Services Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive lan...
The Chronic Kidney Disease Management Technology Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive l...
The Ion Exchange Technology For Water Treatment Market is set to witness immense growth during the forecast period 2024-2031. This intelligence report offers an in-depth analysis of the market size, share, growth, opportunity, competitive la...