The global typhus fever treatment market is estimated to grow at a moderate CAGR over the forecast period, i.e., 2022 – 2030. Typhus fever is caused by a bacteria found in mites, and bugs. When a mite carrying the bacteria bites someone, the bacteria can cause infection by entering the bloodstream. The growth of the market can be attributed to the increasing incidences of typhus fever across the globe, especially in low- and middle-income countries. The lack of sanitation facilities, personal hygiene, and housing overcrowding are the major causes for infection of typhus fever. The population of the world is increasing at a concerning rate, and housing this growing population is a major problem. According to the data by the World Bank, the global population reached 7.753 billion in 2020, which was 6.922 billion just a decade ago.
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The lack of sanitation is another major factor responsible of the outbreaks of typhus fever, especially in under-developed countries. According to the data by the World Health Organization (WHO), 2 billion people globally do not have access to basic sanitation facilities, such as, toilets, and 673 million people still defecate in open. Moreover, housing overcrowding or people living in overcrowded conditions, is another major factor estimated to boost the market growth. As per the data by Organization for Economic Co-operation and Development (OECD), a household is considered as overcrowded if less than one room is available in each household for every couple, individual above 18 years, and a pair of children below 18 years. Mexico is one of the most overcrowded countries in the world, with 33.191% of the population living in overcrowded households.
The market is segmented by type into murine typhus, epidemic, and scrub typhus, out of which, the scrub typhus segment is anticipated to hold the largest share in the global typhus fever treatment market over the forecast period on account of highest prevalence of this type of typhus across the world. Scrub typhus spreads faster than the other two type, which is estimated to boost the segment 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.
On the basis of geographical analysis, the global typhus fever treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Latin America region is estimated to witness noteworthy growth over the forecast period on the back of lack of sanitation facilities, and overcrowding housing in low-income countries. The market in the Asia Pacific region is also projected to grow similarly over the forecast period, owing to the poor housing conditions, over-population, and lack of healthcare awareness. According to the statistics by the World Health Organization (WHO), around 827,000 people in low- and middle-income countries die due to inadequate sanitation.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing prevalence of typhus fever in the region, backed by growing cases of mite and bug infestation.
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The global typhus fever treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global typhus fever treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The increasing cases of typhus fever is estimated to boost the market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022 – 2030.
Lack of health awareness amongst people is estimated to hamper the market growth.
The market in the North America region is estimated to provide more business opportunities over the forecast period, owing to the higher prevalence of the disease in the region.
The major players in the market are Pfizer Inc., Glenmark Pharmaceuticals, Merck KGaA, Novartis AG, Sanofi-aventis Groupe, Teva Pharmaceutical Industries Ltd., 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 type, treatment, medication, and by region.
The doxycycline segment is anticipated to hold largest market over the forecast period and display significant growth opportunities.
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