Tuberculosis Market Size to Expand Significantly by the End of 2025
According to a new report published by Reports Monitor titled, Global Tuberculosis Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global tuberculosis market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Tuberculosis (or) TB is a chronic infectious disease which is caused by Mycobacterium tuberculosis. Tuberculosis, also known as pulmonary tuberculosis, infects to any part of the body majorly affects lungs. Extra pulmonary tuberculosis occurs when infection spreads other than the lungs. Tuberculosis is mainly of two types–latent tuberculosis and active tuberculosis. In latent TB condition, person infected with the bacteria but it is inactive state and causes no symptoms. It isn't contagious. It is also called inactive tuberculosis (or) TB. It can turn into active TB, so treatment is important for the person with latent TB and to help control the spread of TB.
Increasing predominance of tuberculosis provides the lucrative market for the global tuberculosis therapeutics market. Increasing demand for advance medication to treat tuberculosis and rising awareness among people and novel medications to treat the tuberculosis is expected to account for a robust growth of global tuberculosis therapeutics market over the forecasted period. According to the World Health Organization (WHO), about one-third of the world’s population diagnosed with latent tuberculosis (TB), 9.6 million people diagnosed with tuberculosis in 2014. 1 million children diagnosed and 0.14 million children died in 2014.Low income and middle income countries more prevalent to the tuberculosis. People contagious with HIV are 20-30 times more likely to develop active tuberculosis. The risk is more in active TB persons suffering from other conditions that impair the immune system. Program to treat tuberculosis ‘Directly Observed Treatment, Short Course’ (DOTS) developed by WHO, witnessed robust growth of global tuberculosis therapeutics market. Shortage of anti-tubercular drugs to treat TB in children is another factor affecting the market.
The Tuberculosis Market is segmented on the basis of product which includes hydrazine derivatives, isoniazid, miscellaneous anti tubercular drugs, rifampin, ethambutol, pyrazinamide. Further the market is segregated on the basis of end user, which includes hospital Pharmacies, ambulatory surgical centres, individual Pharmacies.
The global Tuberculosis market is studied across: North America, Europe, Asia Pacific and LMAEA (Latin America, Middle East and Africa). Europe trails Asia Pacific in terms of revenue generation because of the rising prevalence of tuberculosis in the region as given by WHO. Presence of numerous big names in the region which are constantly developing new products has provided a major boost to the market. The Middle East and Africa is another key region that is expected to grow at a relatively faster pace because of the increasing instances of tuberculosis, the increasing government focus on establishing regulations for the approval of tuberculosis tests, and growing focus on awareness programs by the tuberculosis diagnosis testing kits manufacturing companies, among others. In North America powered by the U.S. is one of the major markets for global tuberculosis testing market.
Key players: The prominent players in the market are Lupin, Otsuka Novel Products, Pfizer, Sandoz, Sanofi, AstraZeneca, Archivel Farma, bioMérieux.
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