Increase in awareness about foodborne illness, surge in government support for healthcare infrastructure, rise in parasitic infection, and upsurge in use of daraprim drug for the treatment of toxoplasmosis infections drive the growth of the global toxoplasmosis treatment market.
PORTLAND, Ore., Dec. 12, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Toxoplasmosis Treatment Market by Type (Acquired Toxoplasmosis, Congenital Toxoplasmosis), by Route of Administration (Oral, Parenteral), by Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, Online Providers): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global toxoplasmosis treatment industry generated $683.1 million in 2021, and is anticipated to generate $1.09 billion by 2031, witnessing a CAGR of 4.8% from 2022 to 2031.
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Prime determinants of growth
Increase in awareness about foodborne illness, surge in government support for healthcare infrastructure, rise in parasitic infection, and upsurge in use of daraprim drug for the treatment of toxoplasmosis infections drive the growth of the global toxoplasmosis treatment market. However, side effects toxoplasmosis drugs such as toxic epidermal necrolysis, erythema multiforme, and hyperphenylalaninemina hinder the market growth. Moreover, rise in product launches for the treatment of toxoplasmosis disease is projected to provide the beneficial opportunities for toxoplasmosis treatment market growth.
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global toxoplasmosis treatment market, as it disrupted workflows in the health care sector across the world.
- The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care.
- There had been a significant decrease in demand for toxoplasmosis during the pandemic. The significant reduction in clinical trials for toxoplasmosis treatment, owing to strict government guidelines against COVID-19 hampered the market growth. Decline in hospitals visit, closing of borders, and confinement of the population affected the supply chains of these life-saving medical products in the toxoplasmosis treatment industry.
- However, the market has now been able to recover slowly and steadily.
The acquired toxoplasmosis segment to maintain its leadership status throughout the forecast period
Based on type, the acquired toxoplasmosis segment held the highest market share in 2021, accounting for more than two-thirds of the global toxoplasmosis treatment market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to rise in prevalence of acquired toxoplasmosis caused due to accidental consumption of oocysts. However, the congenital toxoplasmosis segment is projected to manifest the highest CAGR of 5.5% from 2022 to 2031, owing increase in cases of congenital toxoplasmosis.
The oral?segment to maintain its leadership status throughout the forecast period
Based on route of administration, the oral?segment held the highest market share in 2021, accounting for more than two-thirds of the global toxoplasmosis treatment market, and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to manifest the highest CAGR of 5.0% from 2022 to 2031, owing to advantages associated with oral route such as more pre-determined doses, convenience, patient self-administration, and easy to administer.
The hospital pharmacies?segment to maintain its lead position during the forecast period
Based on distribution channel, the hospital pharmacies?segment accounted for the largest share in 2021, contributing to around half of the global toxoplasmosis treatment market, and is projected to maintain its lead position during the forecast period. This is owing to large number of patient visits to the hospital pharmacies. However, the online providers segment is expected to portray the largest CAGR of 6.3% from 2022 to 2031, owing to rise in digitalization around the globe.
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North America?to maintain its dominance by 2031
Based on region, North America?held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global toxoplasmosis treatment market, and is likely to dominate the market during the forecast period, owing to rise in cases of parasitic infection cause the toxoplasmosis disease. However, the Asia-Pacific?region is expected to witness the fastest CAGR of 5.5% from 2022 to 2031. Increase in spending capabilities, owing to rise in awareness programs for toxoplasmosis disease.
Leading Market Players
- Alvogen
- Dr Reddy's Laboratories Ltd.
- Teva Pharmaceutical Industries Limited
- Vyera Pharmaceuticals LLC
- Mangalam Drugs and Organics Ltd.
- Oakrum Pharma
- Kaiser Permanente
- Zorish Healthcare Private Limited
- Omicron pharmaceuticals
- Manus Aktteva Biopharma LLP
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