Global Nontuberculous Mycobacterium Treatment Market Highlights over 2022 – 2031
The global nontuberculous mycobacterium treatment market is estimated to grow at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of nontuberculous mycobacterial lung disease, especially amongst the elderly population across the globe. Moreover, the rising geriatric population on a global level, is further estimated to boost the market growth. According to the data by the World Bank, 723,484,054 individuals were aged above 64 years of age, as of 2020. Furthermore, the high occurrence of various lung-related issues amongst people are further projected to boost the market growth. As per the data by the National Organization for Rare Disorder, chronic lung infection is the most common complication affecting approximately 94% of individuals. Additionally, increasing health awareness amongst people, government initiatives to provide efficient health facilities, and growing health expenditure are estimated to boost the market growth.
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The market is segmented by end-user into hospitals, private clinics, drug stores, retail pharmacy, and others, out of which, the hospitals segment is anticipated to hold a substantial share in the global nontuberculous mycobacterium treatment market over the forecast period on account of growing patient footfall in hospitals. Additionally, hospitals tend to a vast variety of patients leading to higher popularity of hospitals amongst people, which is estimated to boost the segment.
Major Macro-Economic Indicators Impacting the Market Growth
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.
Global Nontuberculous Mycobacterium Treatment Market Regional Synopsis
On the basis of geographical analysis, the global nontuberculous mycobacterium 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 witness noteworthy growth over the forecast period on the back of improving healthcare infrastructure, along with growing geriatric population in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of high prevalence of nontuberculous mycobacterium infections. The high healthcare expenditure, presence of major pharmaceutical companies, and increasing research activities for the development of new drugs, are further estimated to boost the market growth. 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 in the same year.
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The global nontuberculous mycobacterium treatment market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global nontuberculous mycobacterium treatment market includes the following segments:
By Drug Type
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The growing prevalence of nontuberculous mycobacterium infections is estimated to boost the market growth.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2031.
The major players in the market are Atara Biotherapeutics, Inc., Kadmon Holdings, Inc., Beyond Air Inc., Savara Inc., RedHill Biopharma Ltd., Insmed Inc., Novartis AG, GlaxoSmithKline plc, and TFF Pharmaceuticals, Inc.
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 type, end-user, and by region.
The hospitals segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
Unavailability of advanced treatment methods in developing regions is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing healthcare sector in the region.
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