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Tuberculosis Drugs Market Surges past US$ 2 Billion by 2024 | Coherent Market Insights

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Tuberculosis Drugs Market Surges past US$ 2 Billion by 2024 | Coherent Market Insights

August 21
00:21 2019
Tuberculosis Drugs Market Surges past US$ 2 Billion by 2024 | Coherent Market Insights

Tuberculosis Drugs: Hopes Pinned on Renewed Government Investments in Emerging Economies
Tuberculosisa Drugs: Hopes Pinned on Renewed Government Investments in Emerging Economies

The Global Tuberculosis Drugs Market was valued at US$ 1,389.3 million in 2015 and is projected to expand at a CAGR of 5.9% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Growing prevalence of tuberculosis and increasing tobacco smoking is expected to drive growth of the global tuberculosis drugs market.

Drug shortage to treat tuberculosis is a major challenge to effective healthcare in the U.S., with the shortage of drug number tripling from 2007 to 2012. This factor seems to be troublesome and represents a public health threat. U.S. Government Accountability Office reported that there is 16% shortage of anti-infective drugs, including that for tuberculosis. Various healthcare agencies have organized TB awareness campaigns across the U.S. and had difficulty in accessing medicines and products to diagnose the disease and this is due to shortage, supply disruptions, and high costs of the products. The success story of India drugs market is timely and adequate supply of drugs, though it has been hit the hardest due to poor government policies and tough procurement procedures

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In 2015, out of 580 thousand people who were eligible for multidrug resistance tuberculosis treatment, only 125 000 (20%) were registered. Five countries, namely India, China, the Russian Federation, Indonesia, and Nigeria account for over 60% of this gap.  Worldwide, the multidrug resistance tuberculosis treatment success rate was 50-52% in 2013 and in 2015, approximately 55% of reported new tuberculosis patients had a documented HIV test result. The HIV-positive tuberculosis patients on an antiretroviral therapy was around 78%. This led to the wider understanding about the ailment and government and non-governmental organizations alike are focusing on developing tuberculosis preventive treatment and increasing their access to the general populace. Thus, it would boost the tuberculosis drugs market over the forecast period.

Multidrug-Resistant Tuberculosis (MDR-TB) is highly prevalent worldwide. Around 3% of all new cases diagnosed with TB worldwide have multidrug-resistant tuberculosis and the percentage is more in patients who had already accepted anti-tuberculosis treatment replicating the failure of programs intended to ensure complete cure of patients with tuberculosis. Management of multidrug-resistant tuberculosis is difficult and it requires skilled clinicians at centers with well-equipped laboratory services and DOTS-Plus strategy.

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Prevalence of tuberculosis is high in low-income and emerging economies such as Asia, which includes China, India, Bangladesh, Indonesia, and Pakistan contributing 50% of the global tuberculosis burden. Africa is one of the most tuberculosis infested regions globally and unambiguously the sub-Saharan Africa has the highest rate of tuberculosis incidence, with 83 and 290 patients per 100,000, respectively. Tuberculosis cases occur highly between the age group of 15 to 49 year.

According to World Health Organization (WHO), tuberculosis accounted for burden of US$ 12 billion from low income economies. According to the same source, average work time lost by an individual after getting infected by tuberculosis bacteria is around 3–4 months, which further result in a mean lost potential earnings of 20%–30% of the annual household income and over deaths caused by premature tuberculosis deaths the loss of income is ~15 years Therefore, the global tuberculosis drugs market is expected to witness steady growth over the forecast period.

Key companies covered as a part of this study include Pfizer Inc, Lupin Laboratories Ltd, AstraZeneca Plc, Cadila Pharmaceuticals, Novartis AG, Alkem Laboratories Ltd, and Cipla Ltd.

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