Neglected Tropical Disease Treatment Market

Neglected Tropical Disease Treatment Market Overview

The global neglected tropical disease treatment market size is expected to reach US$ 7.9 Billion in 2032 and exhibit growth at a CAGR of 4.3% in the forecast period from 2022 to 2032. The market is set to be valued at US$ 3.4 Billion in 2022. The rising launch of various innovative programs by governments to tackle these diseases is set to propel the sales of neglected tropical disease treatment products in the upcoming years.

Report Attribute	Details
Neglected Tropical Disease Treatment Market Estimated Base Year Value (2021)	US$ 2.1 Billion
Neglected Tropical Disease Treatment Market Expected Market Value (2022)	US$ 3.4 Billion
Neglected Tropical Disease Treatment Market Anticipated Forecast Value (2032)	US$ 7.9 Billion
Neglected Tropical Disease Treatment Market Projected Growth Rate (2022-2032)	4.3% CAGR

Neglected tropical diseases are a group of poverty-promoting, debilitating, and chronic bacterial, parasitic, fungal, and some viral infections. These are mainly prevalent among the poorest people residing in emerging economies.

The elimination and control of these diseases has currently become a priority for achieving targets to reduce sustainable poverty and to attain the United Nations Millennium Development Goals (MDGs).

While drug treatments are available for these diseases, they don’t often reach people who are in need. Thus, many non-governmental and governmental organizations are striving to provide innovative drugs and enhance the healthcare infrastructure in regions where these diseases are the most prevalent.

Several drug manufacturing companies are also donating state-of-the-art medicines to help with the treatment of neglected tropical diseases. Some of the available treatments do not require the presence of healthcare professionals and are easy to administer.

Which are Some Prominent Drivers Spearheading Neglected Tropical Disease Treatment Market Growth?

The rising prevalence of neglected tropical diseases in emerging countries owing to multiple factors, such as the absence of proper hygiene maintenance and shortage of basic services including clean water is estimated to boost the global neglected tropical disease treatment market growth. The increasing usage of antiparasitic drugs, antiviral drugs, and antibacterial drugs for the treatment of Chagas disease, African sleeping sickness, Buruli ulcer, and leishmaniasis is another vital factor that is projected to drive the market.

Government bodies of various countries are consistently creating awareness among people regarding the availability of medicines for the treatment of these diseases. They are aiming to encourage people to practice better health practices in their everyday lives. Numerous companies across the globe are consistently investing huge sums in research and development activities to create new treatment options.  

What are the Challenges Faced by the Neglected Tropical Disease Treatment Industry?

As neglected tropical diseases occur in poor parts of countries, the lack of awareness among people may decline sales of neglected tropical disease treatment options. The lack of access to cutting-edge medications and the presence of an underdeveloped healthcare infrastructure in these countries are a couple of other factors that may obstruct the growth in this market.

Why is Asia Pacific Emerging as an Opportunistic Neglected Tropical Disease Treatment Market?

Asia Pacific is expected to remain at the forefront in future years by generating the largest neglected tropical disease treatment market share. This growth is attributable to the presence of a huge target population and the rising GDP rate in India and China.

The increasing prevalence of neglected tropical diseases, such as trichuriasis, rabies, hookworm infection, visceral leishmaniasis, dengue fever, and ascariasis in these developing countries is another significant factor that is projected to bode well for the regional market. The Indian government, for instance, has collaborated with the World Health Organization (WHO) to make financial investments in healthcare to eliminate and reduce cases of such diseases.

How is Latin America Contributing to Growth of the Neglected Tropical Disease Treatment Market?

The increasing untapped potential for the treatment of patients suffering from neglected tropical diseases in Brazil and Mexico is anticipated to augur well for the Latin America market. The rising number of awareness programs conducted by governments of these countries is also set to push the demand for neglected tropical disease treatment options in Latin America.

As per a study published in the National Library of Medicine, nearly 40% of the projected 556 million people living in the Caribbean and Latin American region are below the poverty line. It includes 74 million people who live on less than US$ 2 per day and 47 million people that live on less than US$ 1 per day. These numbers are expected to grow at a rapid pace in the forthcoming years, thereby propelling the regional market.

Market Competition

Some of the leading companies present in the global neglected tropical disease treatment market include Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Omega Diagnostics Group PLC, Abbott, Oscar Medicare Pvt Ltd., Genome Diagnostics Pvt. Ltd., and ZeptoMetrix among others.

Majority of the key players operating in the global market are increasingly focusing on partnerships, collaborations, and new product development to strengthen their positions. Meanwhile, a few other companies are aiming to gain fast track approvals from regulatory bodies, such as the U.S. FDA to distribute and market their products.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 4.3% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015-2020
Forecast Period	2022-2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Drug Class Disease Type Distribution Channel Region
Regions Covered	North America Latin America Western Europe Eastern Europe APEJ Japan Middle East and Africa
Key Countries Profiled	U.S Canada Brazil Argentina Germany U.K France Spain Italy Nordics BENELUX Australia & New Zealand China India ASEAN GCC South Africa
Key Companies Profiled	Thermo Fisher Scientific, Inc. F. Hoffmann-La Roche Ltd. Omega Diagnostics Group PLC Abbott Oscar Medicare Pvt Ltd. Genome Diagnostics Pvt. Ltd. ZeptoMetrix
Customization	Available Upon Request

Key Segments Profiled in the Neglected Tropical Disease Treatment Industry Survey

By Drug Class:

• Anti-Parasite
• Antifungal
• Antibiotics
• Others

By Disease Type:

• Leishmaniasis
• Schistosomiasis
• Lymphatic Filariasis
• Chagas Disease
• African Trypanosomiasis
• Others

By Distribution Channel:

• Direct Sales
• Indirect Sales

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

Frequently Asked Questions

At what rate will the neglected tropical disease treatment market grow?

The global neglected tropical disease treatment market is set to exceed US$ 7.9 Billion in 2032.

Which region is expected to lead the neglected tropical disease treatment market?

Asia Pacific is expected to lead the neglected tropical disease treatment market in the forecast period.

Which are some of the renowned companies in the neglected tropical disease treatment market?

Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Omega Diagnostics Group PLC, Abbott, and Oscar Medicare Pvt Ltd. are some of the renowned companies in the neglected tropical disease treatment market.