Seattle, Washington Sep 5, 2019 (Issuewire.com) - Global Tuberculosis Drugs Market, by Therapy Type (First Line Therapy, and Second Line Therapy), By Disease Type (Active TB, and Latent TB), By End User (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,146.5 million in 2019, and is expected to exhibit a CAGR of 5.3% over the forecast period (2019 - 2027), as highlighted in a new report published by Coherent Market Insights.
Major players operating in the global tuberculosis drugs market include Johnson & Johnson Services, LLC, Lupin ltd., Novartis AG, Macleods Pharmaceuticals Ltd., Otsuka Pharmaceutical Co., Ltd., Pfizer Inc., and others.
Increasing funding and expenditure on TB treatment and research are driving the growth of the market. For instance, according to the WHO, the global TB-related funding to 119 emerging economies reached around US$ 6.9 billion in 2018, from US$ 3.3 billion in 2006, where 86% of the total funding is provided by Brazil, Russia, India, China, and South Africa (BRICS).
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Furthermore, increasing research and drug development activities are driving the growth of the market. For instance, in 2019, the U.S. FDA approved the TB Alliance manufactured drug Pretomanid for the treatment of a specific type of highly treatment-resistant tuberculosis (TB) of the lungs.
Additionally, the tuberculosis drugs market size is expected to witness significant growth, owing to the increasing global incidence of TB. For instance, according to the WHO Global Tuberculosis Report 2018, it’s estimated that around 10 million people suffered from TB disease in 2017, which included 5.8 million men, 3.2 million women, and 1.0 million children.
Key players operating in this market are adopting collaboration strategies to meet the increasing demand for TB treatment drugs. For instance, in 2015, Dishman Pharmaceuticals and Chemicals Limited entered into license collaboration with Johnson & Johnson to manufacture raw material for drugs used in the treatment of multidrug-resistant tuberculosis (MDR-TB).
Browse 33 Market Data Tables and 28 Figures spread through 198 Pages and in-depth TOC on "Tuberculosis Drugs Market, by Therapy Type (First Line Therapy, and Second Line Therapy), By Disease Type (Active TB, and Latent TB), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Global Forecast to 2027"
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Key Takeaways of the Tuberculosis Drugs Market:
The global tuberculosis drugs market is projected to exhibit a CAGR of 5.3% over the forecast period (2019–2027), owing to an increasing prevalence of TB in emerging economies. According to the WHO report 2018, the Asia Pacific and Africa accounted for about 70% of overall global TB cases. Moreover, in 2017, the high-incidence countries were located in these two regions.
Among region, Asia Pacific is expected to witness growth in the global tuberculosis drugs market over the forecast period, owing to high burden TB in major countries such as China, India, Japan, and Australia among others. For instance, according to the WHO, in 2016, about 2.79 million people suffered from TB in India. Moreover, China has an estimated 1 million new cases of tuberculosis every year.
Among therapy, first-line therapy segment held the dominant position in TB drugs market during the forecasted year, owing to increasing usage of first-line drugs in TB treatment which have lesser side effects compared to second-line therapy drugs
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