Global Cutaneous Leishmaniasis Drugs Market
Global Cutaneous Leishmaniasis Drugs By Product Type, By Distribution Channel, By Geographic Scope And Forecast
According to Verified Market Research, the Global Cutaneous Leishmaniasis Drugs market was valued at USD 40.5 Million in 2018 and is projected to reach USD 56.1 Million by 2026, growing at a CAGR of 4.23% from 2019 to 2026.
Increasing healthcare spending is expected to drive the growth of cutaneous leishmaniasis market. According to the WHO, ‘spending on health is growing faster than the rest of the global economy, accounting for 10% of global gross domestic product (GDP)’. This upward trajectory of global health spending can be more definitely seen in low- and middle-income countries where health spending is growing faster than in comparison to high income countries. This can be attributed to factors such as the developing market expansion, aging and increasing populations, advances in medical treatments, urbanization and rising labor costs.
With high access barriers, the potential for the Cutaneous Leishmaniasis Drugs market is restrained as the scope for the market is confined to specific countries or regions. Addressal of the supply chain barriers in eastern Africa required consistent and specific efforts which include pooled procurement, improved forecast, and increased commitment and resources.
Based on type, the market is bifurcated into Pentavalent Antimonials, Antifungal Drugs and Anti-Leishmanial/Antimicrobial Drugs. Pentavalent Antimonials accounted for the largest market share of 39.50% in 2018 and is projected to grow at a CAGR of 4.26% during the forecast period. These drugs are known as first line drugs against cutaneous leishmaniases, however, the treatment with these drugs can cause adverse effects and is not always effective. These drugs are prescribed parenterally, daily, for at least three weeks.
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