Onchocerciasis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

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Onchocerciasis Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Status : August, 2021 | Pharmaceutical

Report Digest


Global Onchocerciasis Market: Snapshot

Onchocerciasis is caused by the infection of a specific type of parasitic worm inside the human body. The parasite is almost always transferred to the human body by black flies through biting. Global statistics show that onchocerciasis is the second-highest infection-based cause of blindness in the world, second only to trachoma. Common symptoms of onchocerciasis include bumps under the skin, excessive itching, and finally blindness. Studies show that a patient needs to be bitten for a large number of times to contract onchocerciasis.

There are, unfortunately, no vaccines present that can eradicate onchocerciasis. The most common form of cure for onchocerciasis is prevention, which is largely done using insect repellents or fully protective clothing near or inside rivers. Additional research and development is also being made towards the use of specialized insecticides that can help eliminate black flies, while from a medical perspective, the people living close to rivers can be given protective treatments twice a year. Common treatment includes the administration of a drug named ivermectin once every six to twelve months. However, it should be noted that ivermectin only destroys the larva without killing the adults. They can be weakened using doxycycline, an antibiotic that kills the bacteria associated with the adults. Additionally, surgical treatment may be recommended to patients in order to remove the lumps under their skins. The WHO lists onchocerciasis as a neglected tropical disease, and approximately 15.5 mn people are known to be suffering from it.

The onchocerciasis market research report provides an in-depth analysis of the global onchocerciasis market and throws light on the major factors that are expected to fuel the growth of the market in the near future.

Global Onchocerciasis Market: Overview

Onchocerciasis, which is commonly known by the name of river blindness, is a disease that is caused by a parasitic worm named - Onchocerca volvulus. This infection disease is caused and spread in human beings through the bite of Simulium blackfly. This disease is considered as the second leading cause of blindness and can further lead to several other skin diseases. The rising awareness regarding this condition and the availability of therapeutics are expected to propel onchocerciasis market across the globe.

The key segmentation, opportunities, and limitations in the onchocerciasis market have been highlighted to offer a clear understanding of the overall market.

Global Onchocerciasis Market: Drivers and Restraints

A substantial rise in the number of cases of onchocerciasis, especially among American population is one of the vital factors fuelling the growth of the global onchocerciasis market. In addition, the emergence of effective generic drugs for the treatment of onchocerciasis is expected to encourage the growth of the onchocerciasis market in the next few years. The growing focus of governments in developing economies on the development of healthcare infrastructure and creating an awareness regarding the condition are further estimated to accelerate the growth of the onchocerciasis market.

Furthermore, the rising disposable income among consumers, increasing government support, reimbursements policies, and favorable tax benefits are some of the other important factors that are projected to supplement the growth of the global onchocerciasis market throughout the forecast period. With these factors, the market is likely to register a healthy growth rate in the near future.

Global Onchocerciasis Market: Region-wise Outlook

The global onchocerciasis market has been classified on the basis of geography to offer a strong understanding of the market. Among the key segments, Africa is projected to lead the global onchocerciasis market and hold a key share throughout the forecast period. The robust growth of this region can be attributed to the rising incidences of sustained and intense exposure to blackfly bites. In addition, the low awareness regarding the transmission of onchocerciasis disease is estimated to fuel the growth of the Africa market in the next few years.

Furthermore, Latin America and South America markets for onchocerciasis are anticipated to witness substantial growth throughout the forecast period. The untapped market in these regions and the lucrative opportunities for the prominent players are likely to accelerate the growth of the onchocerciasis market in the near future.

Key Players Mentioned in the Research Report are:

The leading players operating in the global onchocerciasis market are Merck & Co., Inc., Par Pharmaceutical Companies, Inc., Taj Pharmaceuticals Limited, Delta Pharma Ltd., Mayne Pharma Group, and Life Pharmaceutical Company. The increasing focus of key players on research and development activities and innovations is estimated to fuel the growth of the overall market throughout the forecast period. As per the study, the market is projected to witness stiff competition, owing to the rising number of players entering the global market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?