Global Neglected Tropical Diseases Drugs and Vaccines Market: Overview
Pertinent issues like sanitation, cleanliness, and hygiene still worry several parts of the world even today. This results in spike of infections and diseases that more often than not, get neglected. They are termed as neglected tropical diseases. World Health Organization claims that these disease affect nearly 1 billion people across the globe. This explains the potential for companies in the global neglected tropical diseases drugs and vaccines market. Over the years, the market for drugs and vaccines for neglected tropical diseases has garnered weight which can be attributed to the rising measures taken by WHO and members of the United Nations to reduce disease burden.
An upcoming report on the global neglected tropical diseases drugs and vaccines market by Transparency Market Research promises to provide every minute detail pertinent for scaling business in the coming years. It covers the existing trends, challenges, opportunities, key developments, geographical analysis, and competitive landscape.
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Global Neglected Tropical Diseases Drugs and Vaccines Market: Notable Developments
Inundated with infections and diseases, the number of notable developments in the global neglected tropical diseases drugs and vaccines market is exhaustive. Some the prominent developments that could aid growth in the coming years include
- Takeda’s vaccine for dengue, Dengvaxia, is expected to hit the market by 2020. This will instill competition among players. Further, vaccine for Zika virus in\s under clinical trial phase II or III.
- In 2017, the World Health Organization (WHO) decided to add new diseases like deep mycoses, snakebites, chromoblastomycosis, and other ectoparasites. The development came after WHO received proposals from different stakeholders to include them in the list of neglected tropical diseases.
- During Global Partners Meeting in April 2017, many players of the global NTD drugs and vaccines market along with philanthropists, and governments decided to pump in US$800 million in the next 5 to 7 years to eliminate NTDs.
- At least nine leading pharmaceutical companies, the WHO, technprenuer and philanthropist Bill Gates, and several political leaders across the world came together to sign the London Declaration. The agreement vows to raise funds to eradicate at least 10 out of the 17 targeted NTDs.
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Besides these collective efforts, most players in the global market for NTD drugs and vaccines are investing in research and development to launch new drugs for the targeted diseases. Some of the leading brands in the global neglected tropical diseases drugs and vaccines market are GSK, Merck, and Takeda.
Global Neglected Tropical Diseases Drugs and Vaccines Market: Key Trends
Increasing Public Private Partnerships
The past decade when it comes to NTDs has been about collective efforts from all the stakeholders of healthcare to eliminate NTDs. Several new programs have been launched to roll out measures that will increase awareness, provide treatment, and reduce disease burden especially in under developed countries. As more such programs come into effect, the demand for vaccines and drugs for NTDs will shoot up.
Growing Migrant Population in Developed Nations
According to the International Migration Report of 2017, out of the 85 million total migrants since 2000, 64 million are into developed or developing countries. This trend has impacted the disease burden due to NTDs over the years. As a result, most developed countries have enforced laws to protect natives from NTDs. This has augmented demand in the last 10 years for drugs and vaccines to treat or prevent neglected tropical diseases.
Need for Quality Drugs
High quality drugs has remained a long-unsolved issue in the global neglected tropical diseases drugs and vaccines market. The last decade has been witness to huge amounts of funding to develop better drugs to treat NTDs. About 70 drugs have entered clinical phase trial I, and some of them are in the final stages of development. It is highly expected that in the forecast period, one could witness launch of one or more drugs.
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Global Neglected Tropical Diseases Drugs and Vaccines Market: Geographical Analysis
In the widespread market for NTD drugs and vaccines, North America is expected to remain at the helm. The heavy inflow of migrant population from underdeveloped or developing nations is the prime reason influencing demand here. Besides, Europe will also remain equally important for players in the global neglected tropical diseases drugs and vaccines market. On the other hand, it is predicted that Asia Pacific will emerge as a target region. Developing healthcare, thrust from governments to reduce NTDs, and increasing awareness among people, will stimulate demand here.
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