On the basis of geographical analysis, the global spotted fever treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is estimated to acquire the largest share and witness noteworthy growth over the forecast period on the back of high number of cases of patients with spotted fever, and presence of climatic conditions favoring the occurrence of tickborne diseases. As per another report by the CDC, the total cases of spotted fever in the U.S. have risen in the last 2 decades, from 495 cases in 2000, to 6,248 cases in 2017. However, 5,544 and 5,207 cases of the disease were reported in 2018 and 2019 respectively.
In addition, large healthcare expenditure is also a major factor projected to boost the growth of the market in the coming years. Moreover, the market in Latin America is also anticipated to grab a sizeable share during the forecast period ascribing to the growing prevalence of tick-based infections and improper maintenance of cleanliness in various parts of the region.
Get more information on this report: Download Sample PDF
The global spotted fever treatment market is further classified on the basis of region as follows:
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.
Our in-depth analysis of the global spotted fever treatment market includes the following segments:
By End User
By Drug Distribution Channel
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
Ans: The major factors driving market growth are increasing prevalence of bacterial infections and growing trend of travel and forest tourism.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022 – 2030.
Ans: Lack of appropriate treatment options in lower economic regions is estimated to hamper the market growth.
Ans: North America will provide more business opportunities for market growth owing to the rising number of cases of patients with spotted fever, and presence of climatic conditions favoring the occurrence of tickborne diseases.
Ans: The major players in the market are Pfizer, Inc., Sun Pharmaceutical Industries, Inc., Novartis AG, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., and others.
Ans: 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.
Ans: The market is segmented by treatment, end user, drug distribution channel, and by region.
Ans: The doxycycline segment is anticipated to hold largest market size and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.