Blastomycosis Treatment Sector: Growth Drivers and Challenges
Growth Drivers
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Growing Population of Immunocompromised Patients – On account of the increasing immunodeficiencies, and malnutrition the market is expected to expand more in the upcoming years. Further, patients with weakened immune systems are more vulnerable to bacterial, fungal, viral, and parasitic illnesses. According to estimates, there are over 9 million immunocompromised individuals in the US, which is more than 3% of the total population.
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Rising Geriatric Population – The elderly population is more prone to fungal infections owing to a weakened immune system is estimated to drive market growth. As of 2050, the number of individuals over 60 in the world is expected increase by over 2 billion.
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Increasing Health Care Spending – According to the most recent expenditure data, U.S. health care spending increased by over 2% in 2021. It is predicted that this boom would continue over the forecast period.
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Growing Prevalence of Malnutrition – It is expected that rising poverty is anticipated to drive the incidence of malnutrition which is further expected to propel the market growth. The World Health Organization (WHO) estimates that undernutrition accounts for over 45% of child mortality in low- and middle-income countries.
Challenges
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Diagnoses of Blastomycosis can be Challenging - The increasing concern amongst individuals for the difficulty associated with the diagnosis is one of the major factors predicted to slow down the market growth. For instance, the position of radiographic findings in pulmonary blastomycosis might vary, which can result in an inaccurate diagnosis.
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Growing Availability of Generic Medicines in the Market
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Exorbitant Cost of Treatment
Blastomycosis Treatment Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.7% |
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Base Year Market Size (2024) |
USD 202.46 million |
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Forecast Year Market Size (2037) |
USD 470.41 million |
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Regional Scope |
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