The global blastomycosis treatment market is estimated to grow at a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing cases of fungal infections, backed by poor immune system in majority of the people. Blastomycosis is caused by a fungus, Blastomyces, which is found in soil and decomposing organic matter. The infection is caused by inhalation of fungal spores, which primarily infects the lungs and respiratory tract. People with poor immunity are at higher risk of infection or severe infection. Poor lifestyle, unhealthy eating habits, unhygienic surroundings, and growing prevalence of lifestyle diseases are some of the major factors promoting the weakening of immune system. Moreover, growing prevalence of drug-resistant fungal infections is estimated to boost the demand for development of new anti-fungal drugs, which, in turn, is projected to boost the market growth. According to the World Health Organization, drug resistance in fungi is a silent crisis, which needs to be addressed globally. Government initiatives, such as, World Antimicrobial Awareness Week started in November 2020 by the WHO, and Global Antimicrobial Resistance and Use Surveillance System (GLASS) launched in 2015, are estimated to strengthen the market growth.
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Increasing health awareness amongst individuals globally, is a major factor estimated to boost the market growth. The government is constantly investing to improve the healthcare facilities for the public. Healthcare expenditure has witnessed major growth in the past decade, which is another factor foreseen to drive the market growth. According to the data by the World Bank, the global per capita healthcare expenditure had touched USD 1,111.082 in 2018.
The global blastomycosis treatment market is segmented by anatomy into lung, bones, central nervous system, and others, out of which, the lung segment is anticipated to hold the largest share in the market over the forecast period on account of increasing cases of lung infection of blastomycosis, as lung is the first organ to come in contact with the fungus. In severe cases, infection reaches the bones and other parts of the body, which is rare.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global blastomycosis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to attain modest growth over the forecast period on the back of poor immunity, and high prevalence of lifestyle diseases. The improving healthcare sector, and economic development in the APAC region is also estimated to boost the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the higher prevalence of blastomycosis, along with other fungal infections, in the United States and Canada. According to the data by the U.S. Center of Disease Control and Prevention (CDC), occurrence of blastomycosis varies from region to region, and can go as high as 10-40 cases per 100,000 individuals in some regions of the U.S.
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The global blastomycosis treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global blastomycosis treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing cases of blastomycosis, and poor immunity estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2030.
Circulation of generic drugs is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities over the forecast period, owing to the higher prevalence of the disease in the region.
The major players in the market are Novartis AG, Sanofi-aventis Groupe, Abbott Laboratories, Viatris Inc., Merck & Co., Inc., Siemens Healthcare GmbH, Pfizer Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by anatomy, treatment, end-user, and by region.
The medication segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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