Lassa Fever Treatment Market size is expected to cross USD 480 Million by the end of 2036, expanding around 13% CAGR during the forecast period i.e., 2024-2036. In the year 2023, the industry size of lassa fever treatment was around 24 Million. The growth of the market can be attributed to the growing cases of fever across the world is projected to promote market growth. According to the data by the World Health Organization (WHO), 1 in every 5 Lassa fever infections result in severe infection in organs. Moreover, in 80% of cases, no symptoms are reported. Symptoms can vary from mild symptoms, such as nausea, and vomiting, to severe symptoms, such as deafness, seizure, and coma. As per another report by the WHO, deafness occurs in 25% of the cases of Lassa fever.
In addition, there has been an increasing incidence of Lassa fever, backed by a lack of sanitation and proper healthcare facilities. The major cause of Lassa fever is the consumption of food or water contaminated with rodent urine or faces. According to the data by UNICEF, 5 out of 10 people did not have access to safe sanitation services, in 2020.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
~13% |
|
Base Year Market Size (2023) |
~USD 24 Million |
|
Forecast Year Market Size (2036) |
~USD 480 Million |
|
Regional Scope |
|
Treatment (Medication, Supportive Care);
The medication segment is predicted to hold 60% share of the global lassa fever treatment market by 2036. The growth can be attributed on account of fast relief action of the drugs, quicker symptom elevation, and easy availability in pharmacies. Governments in endemic countries are taking steps to enhance the diagnosis and treatment of Lassa fever so that proper medication can be provided at the right time. This includes providing funding for research and development training healthcare workers and raising awareness of the disease.
Distribution Channel (Hospital Pharmacy, Retail Pharmacy, E-commerce Pharmacy)
In terms of distribution channel, the hospital pharmacy segment in the lassa fever treatment market is estimated to expand at a CAGR of 40% during the forecast period. According to the World Health Organization, approximately 10% 15% of people infected with Lassa fever in Sierra Leone and Liberia are admitted into hospitals each year. For instance, pharmaceutical companies and scientists are constantly engaged in R&D activities such as the development of vaccines, close to patient diagnostic tests that have not yet been completed, candidate medicines being at an intermediate stage of testing, etc. These vaccines, and treatments will be easily available in the hospitals due to their financial capabilities.
Our in-depth analysis of the global market includes the following segments:
|
Symptoms |
|
|
Treatment |
|
|
Distribution Channel |
|
Middle East and African Market Forecasts
The lassa fever treatment market in Middle East and Africa region is estimated to witness the highest growth over the forecast time period on the back of increasing incidences of Lassa fever in the region. The lack of proper sanitation services in the region is also expected to significantly fuel the regional market growth. According to the statistics by the WHO, around 2 billion people do not have basic sanitation facilities, such as toilets, especially in middle and low-income economies. Improving healthcare facilities, backed by increasing investment in the sector is further estimated to boost the market growth. According to the data by the World Bank, USD 520.89 was spent per capita on healthcare in the Middle East and North Africa region, in 2018.
North American Market Statistics
The lassa fever treatment market in the North America region is set to hold a significant revenue share by 2036. The growth of this market can attributed to the account of increasing presence of market players in this product in the North American region. Furthermore, Increasing research and development activities on the treatment of Lassa fever along with expansion of healthcare infrastructure and skilled professionals. The healthcare expenditure in North America is rising which is providing more resources for the development and advancement of Lassa fever treatment. Furthermore, the regulatory environment in North America is supportive of the development of new drugs which is encouraging pharmaceutical companies to invest in Lassa fever research. Besides, increasing demand for personalized medicine, is leading to the development of more targeted and effective treatments for Lassa fever in the North America region.
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?