Global Impetigo Treatment Market 2019-2023 | Increase in Pediatric Population to Boost Demand | Technavio
Technavio analysts forecast the global impetigo market to grow at a CAGR of 7% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio analysts forecast the global impetigo market to grow at a CAGR of 7% by 2023. (Graphic: Business Wire)
Development of therapies for the novel drug is one of the major trends being witnessed in the global impetigo market 2019-2023. There has been an increase in the R&D of therapies for impetigo treatment over the past years. Global Health, an organization developing a novel drug for neglected diseases, has developed moxidectin for the treatment of scabies which is associated with impetigo treatment. Currently, manufacturers such as Teva pharmaceutical industries and GlaxoSmithKline are focusing on the product improvement and development of therapies for a novel drug that can help in impetigo treatment at a faster rate.
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According to Technavio analysts, one of the key factors contributing to the growth of the global impetigo treatment market is the increase in the pediatric population:
Global impetigo treatment market: Increase in the pediatric population
The impetigo skin disease occurs mostly in the pediatric population, affecting mostly 2-5-year-old children. It is the most common bacterial infection among children and is often called school sores since it is common among school children. Since the pediatric population is the high-risk group for this disease, the increase in the pediatric population is a driver for the market.
According to a senior analyst at Technavio, “Impetigo mainly occurs in children living in a warm and humid climate and presently around 40% of the world’s population is living in tropical areas. Thus, the prevalence of impetigo is highest in the Pacific due to the prevalence of tropical climate.”
Global impetigo treatment market: Segmentation analysis
The global impetigo treatment market research report provides market segmentation by product (topical and oral) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for more than 39% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the low cost of impetigo treatment and initiatives to increase awareness of skin diseases.
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Five Forces Analysis
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- Vendors covered
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