Pyrazinamide Market - Global Industry Analysis, Growth, Key Trends, Regional Assessment, and Forecast 2020 - 2030
Pyrazinamide Market: Overview
The pyrazinamide market is anticipated to gain extensive growth during the assessment period of 2020-2030 on the back of the rising prevalence of tuberculosis across the world. Pyrazinamide is prominently used for curing a person of tuberculosis. It kills or eliminates the growth of tuberculosis-causing bacteria. It is often used as an additive in various drugs used for treating tuberculosis.
The utilization of pyrazinamide in treating other diseases and disorders may also prove to be a vital growth aspect for the pyrazinamide market. Pyrazinamide is generally consumed orally in the form of a tablet. It is an antibiotic. Governments of various countries are trying to reduce the number of tuberculosis patients through various initiatives and programs. For instance, the Indian Government has set a target for eliminating tuberculosis by 2025. Thus, this aspect may help in increasing the growth rate of the pyrazinamide market.
According to the World Health Organization (WHO), tuberculosis is one of the top causes of death across the world. It acquires the first position as a leading cause of death from a single infectious agent. Furthermore, nearly 10 mn people were affected by tuberculosis in 2019. These statistics shed light on the escalating emergence of tuberculosis as a dangerous disease. To counter these numbers, pyrazinamide is essential. Hence, based on this aspect, the pyrazinamide market may incur extensive growth prospects through the forecast period of 2020-2030.
Ideal reimbursement policies and the betterment of health infrastructure across many countries may serve as a great growth-generating factor for the pyrazinamide market.
Pyrazinamide Market: Competitive Insights
The pyrazinamide market has numerous players in the ring for obtaining a vital position among others. The players are involved in research and development activities for finding new formulations that are more beneficial and effective in treating tuberculosis and other diseases. These activities help the players in the pyrazinamide market to increase their revenue.
Strategic collaborations are also of crucial importance for the player. Activities like mergers, acquisitions, and joint ventures are essential for increasing the influence of the players across the pyrazinamide market. Some well-established players in the pyrazinamide market are Toronto Research, Waterstone Technology, LGM Pharma, Pure Chemistry Scientific, Acros Organics, and HBCChem.
Pyrazinamide Market: COVID-19 Impact
The COVID-19 outbreak has led to tremendous losses across the globe. It has largely affected various businesses and sectors. The pyrazinamide market has been affected to a certain extent due to the novel coronavirus outbreak. The lockdown orders coupled with border restrictions resulted in disruptions in regards to the supply and logistics.
However, the easing of lockdown restrictions has brought some relief for the players in the pyrazinamide market. Border restrictions have been lowered down and much more is being done by the governments of various countries to bring everything back to normal. In addition, mass vaccination drives have started in countries like the U.S. and U.K., thus bringing much relief. All these factors may help the pyrazinamide market to lower the negative impact on growth.
Pyrazinamide Market: Regional Dimensions
The pyrazinamide market in North America is extrapolated to witness extensive growth and may maintain a dominant streak across the assessment period of 2020-2030. The increase in the number of tuberculosis patients may prove to be a vital growth generator. Asia Pacific’s pyrazinamide market may also witness rapid growth on the back of the rising tuberculosis cases in India and other regions.
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