Oral segment constitutes the bulk of 45% in the Babesiosis Treatment Market in 2023, FMI Report
In 2023, the market for babesiosis treatments is projected to be worth US$1.21 billion. The overall market for babesiosis treatment is anticipated to grow at a CAGR of 5.0% between 2023 and 2033, reaching a value of approximately US$ 1.98 Billion by 2033 due to ongoing advancements in pharmaceuticals and biotechnology for the treatment of babesiosis.
The market share of the babesiosis treatment market is estimated to grow significantly during the analysis period, attributed to factors such as the rising incidence of babesiosis and lyme disease among individuals globally. Furthermore, increased research initiatives to develop a good therapy for babesiosis is also projected to augment the market growth in the coming years.
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As per the International Lyme and Associated Disease Society (ILADS), Lyme disease is often difficult to diagnose and treat, resulting in persistent infections and babesiosis disease. ILADS recommends individualized treatment based on the severity of symptoms, tick-borne coinfections, and patient’s response to treatment.
However, no single antibiotic or combination of antibiotics appears to be capable of eliminating the Lyme disease infection. Therefore, the prevailing cases of Lyme disease and babesiosis, and large scope to develop the ideal antibiotic for the treatment of these diseases, are expected to propel the revenue share of the market during the forecast period.
Factors such as rise in foci transmission were found to be expanding, resulting in an increase of the prevalence of babesiosis disease, which is anticipated to contribute to the Babesiosis treatment market. Moreover, the growing incidences of lyme disease and babesiosis throughout the world have led various companies to collaborate to develop vaccines for the diseases. Also, the companies have been investing a large chunk of money to move on with their babesiosis disease therapy initiatives.
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Additionally, human babesiosis is an emerging infection for which numerous novel pharmacological compounds are being developed, and are being evaluated for its treatment. This is one of the major factors that is likely to stimulate the global market demand in the forthcoming years. In addition, the population of age fifty is more prone to this infection, which in turn is expected to foster the market growth. For the management of Babesiosis, two microbial regimens namely atovaquone and azithromycin and the combination of quinine and clindamycin are found highly effective, which are projected have a positive impact on the market.
Key Takeaways from the Market Study
- Global Babesiosis Treatment Market was valued at US$ 1.16 Bn by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 8%
- By Route of Administration, the Oral segment of the market constitutes the bulk of the market with a market share of 45%
- By Distribution Channel, the Hospital Pharmacy segment dominates the market with a share of 44%
- From 2023 to 2033, Babesiosis Treatment services are expected to flourish at a CAGR of 0%.
- By 2033, the market value of Babesiosis Treatment is expected to reach US$ 98 Bn.
The increasing frequency of the babesiosis, and rising investments from government organizations and large corporates for developing advanced treatment are the major factors that are anticipated to boost the market growth in the near future, remarks an FMI analyst.
Prominent players in the Babesiosis Treatment market are GlaxoSmithKline LLC, Amneal Pharmaceuticals LLC., Apotex, Glenmark, Hetero, Lupin, Camber Pharmaceuticals, Inc., Galderma, Fresenius Kabi, Abott, Pfizer, Inc., Taro Pharmaceutical Industries, Otto Pharmaceutical, Medpharma, Endure Medical, Huajin Pharmaceutical, Mylan Pharmaceutical Inc., Tabuk Pharmaceutical, Aurobindo Pharma Ltd., and Epic Pharma LLC., among others.
- In June 2021, Tarsus Pharmaceuticals, Inc., a late-stage biopharmaceutical company, announced that it had begun dosing participants in its first clinical trial for TP-05, a novel oral, non-vaccine therapeutic for the prevention of Lyme disease. TP-05’s mission is to focus on unmet needs and apply established science and cutting-edge technology to revolutionize patient treatment, starting with eye care.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Babesiosis Treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Babesiosis Treatment market, the market is segmented on the basis of drug type (branded, and generic), route of administration (oral, injectable, and others), end-users (hospitals, academic research institutes, home healthcare, and others), and distribution channel (hospital pharmacy, retail pharmacy, online pharmacy, and others), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Covered in the Babesiosis Treatment Industry Analysis
Babesiosis Treatment Market by Drug Type:
Babesiosis Treatment Market by Route of Administration:
Babesiosis Treatment Market by End-Users:
- Academic Research Institutes
- Home Healthcare
Babesiosis Treatment Market by Distribution Channel:
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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