The global encephalitis drugs market is estimated to grow at CAGR of ~15% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing prevalence of primary as well as secondary encephalitis, which is caused by viral infection. Encephalitis can be deadly as it causes swelling of the brain, speech and hearing impairments, and paralysis. It is more common in children and older population, or patients undergoing immunotherapy. Rising geriatric population, and increasing prevalence of auto-immune diseases are estimated to boost the market growth. 9.318% of the global population ages above 65 years, as of 2020, according to the statistics by the World Bank. As per the British Society of Immunology, rheumatic diseases such as rheumatoid arthritis are increasing at 7% as of 2019, while endocrinological conditions are increasing by 6.3%. The increasing investment in the R&D activities in the medical field, along with rising health awareness amongst the people is estimated to boost the market growth. Moreover, the developing public healthcare infrastructure and high government expenditure for the development of new drugs is anticipated to significantly fuel the growth of the market.
The global encephalitis drugs market is bifurcated by distribution channel into offline and online segments. The offline segment is further segmented into hospital pharmacies, drug stores and others, out of which, the hospital pharmacies segment is anticipated to garner the highest market revenue over the forecast period, owing to the easy accessibility of drugs to the patients admitted in hospitals. The growing patient pool of encephalitis is estimated to boost the growth of the segment. CLICK TO DOWNLOAD SAMPLE REPORT
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 encephalitis drugs 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 witness substantial growth over the forecast period on the back of emergent healthcare infrastructure and improved medical facilities available in developing nations, such as, India, Bangladesh, and Indonesia. Moreover, high geriatric population, along with the growing disposable income are 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 on account of high healthcare expenditure, presence of major pharmaceutical companies, and increasing research activities for the development of new drugs. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America.
The global encephalitis drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the global encephalitis drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of encephalitis and deadly nature of this disease are estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~15% over the forecast period, i.e., 2022 – 2030.
The increasing circulation of generic drugs is estimated to hamper the market growth.
The market in the North America region is estimated to provide most growth opportunities over the forecast period, owing to the presence of major pharmaceutical companies in the region.
The major players in the market are Novartis AG, Pfizer Inc., Sanofi-aventis Groupe, Abbott Laboratories, Merck & Co., Inc., Boehringer Ingelheim International GmbH, Daiichi Sankyo Company, Limited, 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 drug class, distribution channel, and by region.
The hospital pharmacies sub-segment under the offline segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.
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