LONDON--(BUSINESS WIRE)--According to Technavio Research Report "Parasitic Diseases Therapeutics Market by type (antiprotozoal therapeutics, anthelminthic therapeutics, scabicides, and pediculicides therapeutics) and geographic regions (Asia, ROW, North America, and Europe) is witnessed to grow USD 1.79 billion, at a CAGR of 5% from 2019 to 2023”.
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Global Parasitic Diseases Therapeutics Market: Increasing adoption of prophylactic treatment
The prophylactic treatment has been designed to prevent the rise and spread of parasitic diseases. Preventative chemotherapy is used to control the transmission of helminthic infections within a community. Also, vendors in the market are developing vaccines to prevent and control chronic health conditions, including malaria and other diseases. Furthermore, researchers are evaluating physically attenuated parasites in a vaccine to control and prevent conditions, including Leishmaniasis donovani and Leishmaniasis braziliensi. Thus, the increasing adoption of prophylactic vaccines to prevent and control parasitic diseases will accelerate the parasitic diseases therapeutics market growth during the forecast period.
“Increasing initiatives to eliminate parasitic diseases globally will drive the parasitic diseases therapeutics market growth during the forecast period. Vendors are in partnerships that seek to support malaria-endemic countries in eliminating malaria. Such partnership will lead to the introduction and use of effective tools such as malaria diagnostics, blood-stage drugs, and liver-stage radical-cure drugs which will boost the parasitic disease therapeutics market,” says a senior research analyst at Technavio.
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Global Parasitic Diseases Therapeutics Market: Segmentation analysis
This market research report segments the global parasitic diseases therapeutics market by type (antiprotozoal therapeutics, anthelminthic therapeutics, scabicides, and pediculicides therapeutics) and geographic regions (Asia, ROW, North America, and Europe).
Asia led the market in 2018, followed by ROW, North America, and Europe respectively. The market growth in Asia can be attributed to the rising prevalence of parasitic diseases. Increase in funding and initiatives for preventing and controlling parasitic diseases will drive the market growth in the region.
Global Parasitic Diseases Therapeutics Market: Rising incidences of parasitic infections
Parasitic diseases are infectious and transmitted through parasites, including protozoa, helminths, and ectoparasites. Rising incidence of parasitic infections caused by these organisms will lead to market growth during the forecast period. Chronic health conditions such as Chagas disease and Schistosomiasis are highly prevalent across several emerging economies, including Central America, South America, Mexico, Africa, and the Caribbean. As a result, growing instances of parasitic infections are likely to foster the parasitic diseases therapeutics market growth during the forecast period.
Few Major Players for the Parasitic Diseases Therapeutics Market are:
- Bayer AG
- F. Hoffmann-La Roche Ltd.
- GlaxoSmithKline Plc
- Pfizer Inc.
- Sanaria Inc.
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