The global trench fever treatment market is estimated to garner a substantial revenue and grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed largely to the rising outbreaks of trench fever across the globe, and increasing number of patients of infections caused by bacteria. According to the data provided by the Centers for Disease Control and Prevention (CDC) in 2019, antibiotic resistant fungi and bacteria cause more than 2.8 million infections and about 35,000 deaths in the United States every year. In addition, trench fever is most common in populations living in shelters who either have no access to clean clothes or abuse alcohol. Thus, presence of environments with unsanitary conditions is also a crucial factor expected to accelerate the growth of the market in the near future. Furthermore, growing venture funding and allocation of large budgets by government in the healthcare sector is projected to offer lucrative opportunities to the market in the upcoming years.
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The market is segmented by treatment into doxycycline, tetracycline, chloramphenicol, and others, out of which, the doxycycline segment is anticipated to hold the largest share in the global trench fever treatment market. This can be accounted to the efficiency of doxycycline in treating infections by preventing the spread and growth of bacteria. Apart from this, the ability of this drug to treat fever and minor complications within 24-48 hours since the inception of treatment is also predicted to boost the growth of the market segment in the imminent time. Additionally, on the basis of end user, the hospitals segment is evaluated to grab the largest share over the forecast period, which can be credited to the high emphasis of patients all around the world to be treated under the supervision of a healthcare professional in a hospital facility.
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 trench 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 North America is estimated to gather the most significant share and witness noteworthy growth over the forecast period on the back of the sudden emergence of cases of people with trench fever, and upsurge in healthcare spending in the region. As per the Centers for Medicare and Medicaid Services, the healthcare spending in the United States reached a value of USD 3.8 trillion, or USD 11,582 per person in 2019. The health spending accounted for 17.7 percent of the nation’s GDP. In addition, increase in population abusing alcohol and narcotic substances is also assessed to propel the region’s market growth in the coming years. Moreover, the market in Europe is also anticipated to grab a notable share owing to fact that the fever originated there, and high prevalence of the fever in poverty-stricken areas of the region.
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The global trench fever treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global trench fever treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are rising occurrence of trench fever across the globe and increasing number of patients of infections caused by bacteria.
The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022 – 2030.
Lack of awareness regarding the treatment in underdeveloped regions is estimated to hamper the market growth.
North America will provide more business opportunities for market growth owing to the high number of cases of people with trench fever, and upsurge in healthcare spending in the region.
The major players in the market are Pfizer, Inc., Sun Pharmaceutical Industries, Inc., Novartis AG, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., 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, end user, drug distribution channel, and by region.
The doxycycline 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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