According to a new report published by Allied Market Research, titled, โNeglected Tropical Diseases Market: Global Opportunity Analysis and Industry Forecast, 2019โ2027,” 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.
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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.
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The key players profiled in this report include F. Hoffmann-La Roche Ltd, Bayer AG, GlaxoSmithKline plc, Novartis AG, Pfizer, Inc., Eisai Co., Ltd., Sanofi, Astellas Pharma, Gilead Sciences, and Takeda Pharmaceutical Company Limited
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- This study presents the analytical depiction of the global neglected tropical diseases 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 detailed analysis of the global neglected tropical diseases market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the neglected tropical diseases market growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
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