Global Chagas Disease Treatment Market, by Product Type (Benznidazole and Nifurtimox), by Distribution Channel (Hospitals, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 5.67 Mn in 2016 and is projected to exhibit a CAGR of 7.3% over the forecast period (2017–2025), as highlighted in a new report published by Coherent Market Insights. Increasing approval for Chagas disease treatment drugs is expected to be a major factor driving growth of the Chagas disease treatment market.
For instance, in 2017, the U.S. Food and Drug Administration (FDA) granted approval to Chemo Group for its drug benznidazole indicated for the treatment of Chagas disease in patients aged 2–12 years. Currently, according to data published by Centers of Disease Control and Prevention (CDC), in 2013, over 300,000 people are suffering from Trypanosoma cruzi infection in the U.S. Hence, approval of Chagas disease treatment drugs in such key regions is expected to drive growth of global Chagas disease treatment market in the near future.
Browse 22 Market Data Tables and 21 Figures spread through 133 Pages and in-depth TOC on Chagas Disease Treatment Market Product Type (Benznidazole, and Nifurtimox), Distribution Channel (Hospitals, Retail Pharmacies, and Online Pharmacies) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Global Forecast to 2025
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Increasing R&D activities by key players for gaining approval for novel Chagas disease treatment is also expected to drive growth of market. For instance, in 2016, Bayer AG launched phase 3 clinical study evaluating the efficacy and safety of its newly developed medication Nifurtimox, indicated for the treatment of Chagas disease in children of all age groups. 2016, researchers from Saint Louis University Center for Vaccine Development identified a potential new target for vaccines against Chagas disease. The development of such vaccine is expected to create an opportunity for key players to enter in this market. In 2016, Drugs for Neglected Diseases sponsored the clinical trial of Benznidazole in combination with E1224 (fosravuconazole) aiming to improve treatment for Chagas disease. The combination is in Phase 2 clinical trial. Furthermore, increasing launches of novel diagnostic methods such as rapid diagnostic test, and ELISA is expected to increase diagnosis rate for Chagas disease, which in turn is expected to increase demand for its treatment drugs. For instance, in 2016, InBios International, Inc. received 510K clearance from the U.S. Food and Drug Administration (FDA) for its Chagas Detect Plus Rapid Test Kit (CDP).
Key Takeaways of the global Chagas Disease Treatment Market:
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