The gonorrhea treatment drugs market is estimated to grow at a modest CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the growing prevalence of gonorrhea, increasing incidents of unprotected sex, and rise in implementation of national screening programs. In 2018, more than 1.5 million gonococcal infections occurred in the United States. Among these, more than half of the people were aged between 15-24 years. Along with these, huge investments in the R&D activities to develop effective treatment options is also expected to drive market growth in the near future. Furthermore, improvement in healthcare infrastructure in developed nations and expanding advent of new diagnostic tests are evaluated to offer lucrative opportunities to the market in the coming years.
The market is segmented by treatment into monotherapy and dual therapy, out of which, the dual therapy segment is anticipated to hold the largest share in the gonorrhea treatment drugs market on account of increasing preference of this therapy over monotherapy for treating symptomatic and asymptomatic gonorrhea, and the rising adoption of the treatment regime globally. Moreover, as dual therapy with azithromycin and ceftriaxone is considered to be as the first-line regimen for treating gonorrhea, the segment is anticipated to also witness noteworthy growth in the forecast period. Additionally, on the basis of distribution channel, the segment for hospital pharmacies is evaluated to occupy the largest market share during the forecast period. This can be credited to the ease to receive prescribed medicines from the hospital facility itself.
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 gonorrhea treatment drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. The market in North America is estimated to acquire largest share over the forecast period on the back of easy availability of advanced technology and high standards of healthcare infrastructure in the region. In addition, increasing awareness about the disease and promising reimbursement policies are also expected to drive market growth in the region. However, the market in Asia Pacific is assessed to witness the highest growth during the forecast period ascribing to the rising prevalence of the disease, rapid change in lifestyles and growing availability of cure for sexually transmitted diseases in the region. In India, more than 5% of the population is affected with a STD. On an average, every year 8-25% men suffer from gonorrhea.
The gonorrhea treatment drugs market is further classified on the basis of region as follows:
Our in-depth analysis of the gonorrhea treatment drugs market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing prevalence of gonorrhea globally and growing implementation of national screening programs are major growth drivers for the market.
The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021 – 2029.
Negative perception about people visiting STD clinics is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities in the future owing to the increasing prevalence of gonorrhea and rapidly changing lifestyles.
The major players in the market are Pfizer Inc., Allergan Inc., F. Hoffman-La Roche Ltd, GlaxoSmithKline plc., 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 treatment, infection type, distribution channel, and by region.
The hospitals segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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