The Leishmaniasis treatment market is estimated to be valued at US$ 69.4 Mn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Leishmaniasis is a vector-borne disease caused by protozoan parasites that belong to the genus Leishmania. It affects mainly the skin and mucous membranes, and sometimes visceral organs. The infection is transmitted by the bite of certain species of sandflies. There are different forms of leishmaniasis depending on which organs of the body are affected. The available treatment options include antifungal and antiparasitic drugs.

Market Dynamics:
Leishmaniasis predominantly occurs in tropical and sub-tropical regions and the lack of awareness about it in disease-endemic areas is one of the key factors driving research activities. Increased research initiatives by public and private organizations for development of novel and effective drugs is propelling market growth. For instance, iCo Therapeutics, Merck and AEterna Zentaris are involved in clinical trials for new drug formulations to treat leishmaniasis. Additionally, the rising prevalence of leishmaniasis worldwide due to factors such as increasing international travel and migration, environmental changes and lack of vector control measures is facilitating the market expansion.

SWOT Analysis
Strength: The leishmaniasis treatment market has strong pipeline of drugs in clinical trials which will drive the market growth over the forecast period. The increasing research and development activities by key players for development of novel drugs is one of the major strength. Various governments and non-profit organizations are also funding research activities related to leishmaniasis which is promoting drug development in this market.
Weakness: High cost associated with drug development and clinical trials is one of the major weakness. Secondly, lack of awareness about leishmaniasis especially in underdeveloped regions hampers early diagnosis and treatment seeking.
Opportunity: Increasing product approvals and launch of new drugs provides lucrative growth opportunities. Secondly, rising healthcare expenditure in emerging nations provides potential for market growth.
Threats: Limited treatment options and high prices of available drugs are major threats. Secondly, poor healthcare infrastructure and lack of proper diagnostic facilities in underdeveloped and developing nations are challenges.

Key Takeaways

The Global Leishmaniasis Treatment Market Size is expected to witness high growth, exhibiting CAGR of 17% over the forecast period, due to increasing prevalence of leishmaniasis infections worldwide. As per the World Health Organization (WHO), annually 1.3 million new cases and more than 20,000-30,000 deaths are reported due to leishmaniasis globally.

Regional analysis: The leishmaniasis treatment market in North America is expected to dominate other regions during the forecast period. This is attributed to increasing research activities for drug development and presence of key players in the region. However, Asia Pacific region is likely to grow at a highest CAGR owing to rising prevalence of disease, growing awareness, and improving healthcare infrastructure in developing countries such as India.

Key players operating in the leishmaniasis treatment market are Merck, iCo Therapeutics, AEterna Zentaris, AEterna Zentaris AG, Eurofins Advinus, Pieris Pharmaceuticals, Dafra Pharma. These players are involved in various strategic alliances such as mergers, collaborations and new product launches to strengthen their market position.

For More Insights, Read: https://www.trendingwebwire.com/leishmaniasis-treatment-market-trends-growth-and-regional-outlook-2023-2030/