Blastomycosis Treatment Market Trends
Growth Drivers
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Growing Population of Immunocompromised Patients – On account of the increasing immunodeficiencies, and malnutrition the market is expected to expand more in the upcoming years. Further, patients with weakened immune systems are more vulnerable to bacterial, fungal, viral, and parasitic illnesses. According to estimates, there are over 9 million immunocompromised individuals in the US, which is more than 3% of the total population.
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Rising Geriatric Population – The elderly population is more prone to fungal infections owing to a weakened immune system is estimated to drive market growth. As of 2050, the number of individuals over 60 in the world is expected increase by over 2 billion.
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Increasing Health Care Spending – According to the most recent expenditure data, U.S. health care spending increased by over 2% in 2021. It is predicted that this boom would continue over the forecast period.
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Growing Prevalence of Malnutrition – It is expected that rising poverty is anticipated to drive the incidence of malnutrition which is further expected to propel the market growth. The World Health Organization (WHO) estimates that undernutrition accounts for over 45% of child mortality in low- and middle-income countries.
Challenges
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Diagnoses of Blastomycosis can be Challenging - The increasing concern amongst individuals for the difficulty associated with the diagnosis is one of the major factors predicted to slow down the market growth. For instance, the position of radiographic findings in pulmonary blastomycosis might vary, which can result in an inaccurate diagnosis.
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Growing Availability of Generic Medicines in the Market
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Exorbitant Cost of Treatment
Blastomycosis Treatment Market: Key Insights
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.
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
6.7% |
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Base Year Market Size (2024) |
USD 202.46 million |
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Forecast Year Market Size (2037) |
USD 470.41 million |
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Regional Scope |
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