Asia Pacific to be Growth Engine, as Tuberculosis Drugs Market Surges past US$ 2 Billion by 2024

Published On : Mar 30, 2017

The Global Tuberculosis Drugs Market was valued at US$ 1,389.3 million in 2015 and is projected to expand at a CAGR of 5.9% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of tuberculosis and increasing tobacco smoking is expected to drive growth of the global tuberculosis drugs market.

Drug shortage to treat tuberculosis is a major challenge to effective healthcare in the U.S., with the shortage of drug number tripling from 2007 to 2012. This factor seems to be troublesome and represents a public health threat. U.S. Government Accountability Office reported that there is 16% shortage of anti-infective drugs, including that for tuberculosis. Various healthcare agencies have organized TB awareness campaigns across the U.S. and had difficulty in accessing medicines and products to diagnose the disease and this is due to shortage, supply disruptions, and high costs of the products. The success story of India drugs market is timely and adequate supply of drugs, though it has been hit the hardest due to poor government policies and tough procurement procedures

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Multidrug-Resistant Tuberculosis (MDR-TB) is highly prevalent worldwide. Around 3% of all new cases diagnosed with TB worldwide have multidrug-resistant tuberculosis and the percentage is more in patients who had already accepted anti-tuberculosis treatment replicating the failure of programs intended to ensure complete cure of patients with tuberculosis. Management of multidrug-resistant tuberculosis is difficult and it requires skilled clinicians at centers with well-equipped laboratory services and DOTS-Plus strategy.

Asia and Africa provide largely untapped growth avenues for players in the global tuberculosis drugs market

Prevalence of tuberculosis is high in low-income and emerging economies such as Asia, which includes China, India, Bangladesh, Indonesia, and Pakistan contributing 50% of the global tuberculosis burden. Africa is one of the most tuberculosis infested regions globally and unambiguously the sub-Saharan Africa has the highest rate of tuberculosis incidence, with 83 and 290 patients per 100,000, respectively. Tuberculosis cases occur highly between the age group of 15 to 49 year.

According to World Health Organization (WHO), tuberculosis accounted for burden of US$ 12 billion from low income economies. According to the same source, average work time lost by an individual after getting infected by tuberculosis bacteria is around 3–4 months, which further result in a mean lost potential earnings of 20%–30% of the annual household income and over deaths caused by premature tuberculosis deaths the loss of income is ~15 years Therefore, the global tuberculosis drugs market is expected to witness steady growth over the forecast period.

Key takeaways of the market:

  • The global tuberculosis drugs market is expected to expand at a CAGR of 5.9% during the forecast period (2016–2024) as there still exists a major unrealized market, especially in Asia Pacific, Latin America, Middle East and Africa
  • The first line drugs therapy dominates the tuberculosis drugs market in the therapy type segment as it is the primary and basic tuberculosis drugs used to treat the patients who are effected with the tuberculosis for the first time
  • Incidence of tuberculosis is high in Africa and Asia
  • There are 4 new treatment drug in clinical trials. Approval of a new drug could be a major breakthrough in the global tuberculosis drugs market.
  • Some of the major players involved in global tuberculosis drugs market are Pfizer Inc, Lupin Laboratories Ltd, AstraZeneca Plc, Cadila Pharmaceuticals, Novartis AG, Alkem Laboratories Ltd, and Cipla Ltd.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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