Encephalitis Drugs Market size is projected to grow at around 14.7% CAGR during the forecast period i.e., between 2024-2036. The growth of the market can be attributed to the increasing prevalence of primary as well as secondary encephalitis, which is caused by viral infection. Encephalitis can be deadly as it causes swelling of the brain, speech and hearing impairments, and paralysis. It is more common in children and older population, or patients undergoing immunotherapy. Rising geriatric population, and increasing prevalence of auto-immune diseases are estimated to boost the market growth. 9.318% of the global population ages above 65 years, as of 2020, according to the statistics by the World Bank. As per the British Society of Immunology, rheumatic diseases such as rheumatoid arthritis are increasing at 7% as of 2019, while endocrinological conditions are increasing by 6.3%. The increasing investment in the R&D activities in the medical field, along with rising health awareness amongst the people is estimated to boost the market growth. Moreover, the developing public healthcare infrastructure and high government expenditure for the development of new drugs is anticipated to significantly fuel the growth of the market.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
14.7% |
|
Regional Scope |
|
The global encephalitis drugs market is bifurcated by distribution channel into offline and online segments. The offline segment is further segmented into hospital pharmacies, drug stores and others, out of which, the hospital pharmacies segment is anticipated to garner the highest market revenue over the forecast period, owing to the easy accessibility of drugs to the patients admitted in hospitals. The growing patient pool of encephalitis is estimated to boost the growth of the segment.
Our in-depth analysis of the global market includes the following segments
|
By Drug Class |
|
|
By Distribution Channel |
|
APAC Market Statistics
On the basis of geographical analysis, the global encephalitis drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific is likely to hold largest revenue share by 2036, on the back of emergent healthcare infrastructure and improved medical facilities available in developing nations of the region. Moreover, high geriatric population, along with the growing disposable income are estimated to boost the market growth.
North America Market Analysis
The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of high healthcare expenditure, presence of major pharmaceutical companies, and increasing research activities for the development of new drugs. According to the statistics by the World Bank, in 2018, North America spent USD 10,050.516 for the healthcare of every individual. The total healthcare expenditure accounted for 16.415% of the total GDP of North America.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?