Chronic Aspergillosis Treatment Market to Surpass US$ 4,056.4 Million by 2028
Global Chronic Aspergillosis Treatment Market, by Drug Class (Corticosteroids and Anti-fungal Drugs), by Disease Type (Simple Aspergilloma, Chronic Cavitary Pulmonary Aspergillosis, Chronic Fibrosing Pulmonary Aspergillosis, Subacute Invasive Aspergillosis, Allergic Bronchopulmonary Aspergillosis [ABPA], and Severe Asthma With Fungal Sensitization [SAFS]), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Drug Store, and E-commerce), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,916.3 Mn in 2021 and is expected to exhibit a CAGR of 4.8% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Robust product pipeline for the treatment of chronic aspergillosis which is expected to propel growth of the global chronic aspergillosis treatment market over the forecast period. For instance, on July 2, 2020, Merck Sharp & Dohme Corp., a pharmaceutical company, initiated a phase II open-label, non-comparative clinical trial study the safety and efficacy of Posaconazole (POS, MK-5592) in paediatric participants aged two to less than 18 years with invasive aspergillosis. The study is estimated to be completed by December 2021
Global Chronic Aspergillosis Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic caused major disruptions to clinical trial execution in the U.S., impacting key stakeholders across the industry. Investigative site capabilities experienced upheaval, driven by staff furloughs, social-distancing protocols, financial losses, and concerns over patient safety. Sponsors, CROs, and other organizations that support drug development shifted to remote working environments. An estimated 80% of non-COVID-19 trials were stopped or interrupted as a result of the COVID-19 pandemic. For instance, an April 2020 study suggests that investigative sites demonstrated flexibility and ingenuity in adopting new approaches in order to cope with challenges presented by the COVID, with over half of investigative sites transitioning to virtual approaches to interact with patients. More recently, follow-up studies performed in August 2020 identified persistent impact of COVID, with over 60% reporting an 'average' or greater level of impact on ongoing trials and initiation of new trials. Respondents specifically highlighted challenges in patient enrollment and recruitment. There are total 6,114 clinical trials suspended/withdrawn or terminated from September 1, 2019 till October 13, 2020. Out of which, 1,008 clinical trials were suspended due to COVID-19 pandemic which accounted for 16% of total trials suspended/withdrawn or terminated and 84% of trials because of other reasons. Among 1,008 trials, 77% trials were suspended, 16% of trials were terminated, and 7% of trials were withdrawn. Trials which are in Phase II are mostly affected by this pandemic situation. This has potentially extended or pushed the completion date ahead and thus, the launch of new products. Moreover, according to a survey conducted by Medidata Solutions, Inc. (a U.S. based technology company, which develops and markets software as a service for clinical trials) on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies.
Browse 35 Market Data Tables and 33 Figures spread through 204 Pages and in-depth TOC on “Global Chronic Aspergillosis Treatment Market”- Forecast to 2028, Global Chronic Aspergillosis Treatment Market, by Drug Class (Corticosteroids and Anti-fungal Drugs), by Disease Type (Simple Aspergilloma, Chronic Cavitary Pulmonary Aspergillosis, Chronic Fibrosing Pulmonary Aspergillosis, Subacute Invasive Aspergillosis, Allergic Bronchopulmonary Aspergillosis [ABPA], and Severe Asthma With Fungal Sensitization [SAFS]), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Drug Store, and E-commerce), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Chronic Aspergillosis Treatment Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/chronic-aspergillosis-treatment-market-4611
Moreover, increasing government initiatives for diagnosing and treatment of chronic infection is expected to drive the growth of global chronic aspergillosis treatment market. For instance, in 2016, the Infectious Diseases Society of America (IDSA) published new guidelines for the diagnosis and treatment of infections due to Aspergillus species. The document offers guidance on non-culture-based identification of Aspergillus infections and dejects the use of combination anti-fungal therapy for primary management. The guidelines also define therapy of isavuconazole, a new U.S. Food and Drug Administration (FDA) approved antifungal drug in March 2015 to treat mucormycosis and aspergillosis.
Key Takeaways of the Global Chronic Aspergillosis Treatment Market:
- The global chronic aspergillosis treatment market is expected to exhibit a CAGR of 4.8% during the forecast period due to heavy R&D funding by major companies as key companies operating in the market raising funds in order to expand its research and development activities for the development of novel therapeutics for the treatment of chronic aspergillosis. For instance, in May 2021, Pulmocide Ltd., a latestage biopharmaceutical company developing novel inhaled therapies for patients suffering from serious acute and chronic respiratory diseases, announced that the company had raised US$ 92 million in an oversubscribed Series C financing round
- Among distribution channel, hospital pharmacies segment is estimated to hold largest market share in global chronic aspergillosis treatment market over the forecast period. Increasing number of patients suffering from chronic aspergillosis, which is expected to drive demand for hospital administration of patient for the treatment of chronic aspergillosis. For instance, according to the Central for Disease Control and Prevention, Aspergillosis Statistics, it is estimated that between 1% and 15% of cystic fibrosis patients likely to be affected by allergic bronchopulmonary aspergillosis (ABPA). One study calculated that 2.5% of adults who have asthma also have ABPA, which is around 4.8 million people worldwide. Of these 4.8 million people who have ABPA, an estimated 400,000 also have chronic pulmonary aspergillosis (CPA).
- Among the regions, North America is estimated to hold dominant position in global chronic aspergillosis treatment market in Increasing number of hospitalizations for aspergillosis in the U.S. is estimated to drive the growth of the segment in 2021. For instance, according to the article published by Center for Disease Control and Prevention, during 2000- 2013 the number of hospitalizations related to invasive aspergillosis in the U.S. increased by an average of 3% per year. According to the same source, about 15,000 aspergillosisassociated hospitalizations occurred in the U.S. in 2014, at an estimated cost of US$ 1.2 billion.
- Major players operating in the global chronic aspergillosis treatment market include Astellas Pharma Inc., Abbott Laboratories, Pfizer Inc., Pulmocide Ltd., Johnson & Johnson, Mylan N.V., Glenmark Pharmaceuticals, Merck & Co., Inc., Mayne Pharma Group Limited, GlaxoSmithKline plc., PULMATRiX, Inc., F2G Ltd, Teva Pharmaceutical Industries Ltd., and Novartis International AG
