The Leptospirosis Market is estimated to be valued at US$ 496.8 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Leptospirosis is a bacterial infection caused by Leptospira interrogans which primarily affects animals but can spread to humans. The bacteria is transmitted through urine-contaminated water or soil. Common symptoms include fever, headache, chills, muscle aches, vomiting, jaundice and red eyes. Severe cases can lead to liver or kidney damage, meningitis, lung hemorrhage or even death. Vaccines and antibiotics are available to treat the disease in early stages. The market products include vaccines, antibiotics drugs and diagnostics kits that help doctors to timely diagnose and treat leptospirosis patients.
Market key trends:
Rising incidence of leptospirosis globally is driving the market growth. According to WHO, there are an estimated 1.03 million cases and 58,900 deaths from leptospirosis each year globally. Tropical regions witness high burden of disease due to favorable environmental conditions. Increasing awareness about the disease and availability of improved diagnostics is encouraging more testing. This is helping health authorities to assess the true disease burden. Growing research activities to develop more effective vaccines and drugs against various Leptospira serovars is also boosting the market. The introduction of affordable point-of-care tests for resource-limited regions will further support market expansion during the forecast period.
Porter’s Analysis
Threat of new entrants: The leptospirosis market requires high R&D investments and regulatory approvals which makes it difficult for new players to enter.
Bargaining power of buyers: The bargaining power of buyers is moderate as the treatment options for leptospirosis are limited.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and focus on developing new drugs.
Threat of new substitutes: Threat from new substitutes is low as leptospirosis has limited treatment options.
Competitive rivalry: The market is highly competitive with major players focusing on new drug development and product launches.
SWOT Analysis
Strength: Availability of effective antibiotic treatments and growing R&D efforts for vaccine development.
Weakness: Low diagnosis rates in developing regions due to lack of awareness and diagnostic infrastructure. Recurring nature of infection poses challenges.
Opportunity: Rising incidence of leptospirosis globally due to changing environmental conditions presents an opportunity.
Threats: High development costs and regulatory hurdles for new drugs. Patent cliff of major drugs.
Key Takeaways
The Global Leptospirosis Market Size is expected to witness high growth at a CAGR of 5.8% over the forecast period due to increasing incidence of infection owing to changing environmental conditions like urban flooding.
North America dominates the global market due to rising research funding and growing awareness. Europe follows with major key players focusing on clinical trials.
The Asia Pacific region is expected to grow at the fastest rate led by India, China and Southeast Asian countries where leptospirosis is endemic. Lack of diagnostic facilities and low awareness hinder market growth.
Key players operating in the Leptospirosis market are USAntibiotics, Dr. Reddy’s Laboratories Ltd., Century Pharmaceuticals Ltd., Mayne Pharma Group Limited, Sun Pharmaceutical Industries, Inc., Ralington Pharma, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sandoz International GmbH, ISKON REMEDIES & GMT, Haustus Biotech Pvt. Ltd., and Aden Healthcare. Major players focus on new drug launches and geographic expansions.
Read more
https://www.ukwebwire.com/leptospirosis-market-size-share-growth-outlook-2023/
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