The Fascioliasis Market Is Estimated To Witness High Growth |...

The Fascioliasis Market Is Estimated To Witness High Growth

Posted 2023-11-30 09:29:32

SWOT Analysis

Strength: Fascioliasis market has three main strengths. Firstly, growing awareness regarding fascioliasis treatment has increased demand for drugs. Secondly, support from government and non-profit organizations for research and development of new drugs boosts the market. Thirdly, presence of key market players developing novel drugs drives the market growth.

Weakness: The two main weaknesses are high costs associated with drugs and lack of awareness in developing nations. Expensive drugs make treatment unaffordable for many. Also, poor awareness in developing countries related to symptoms and prevention of disease hampers market growth.

Opportunity: There are two key opportunities. Firstly, strategic collaboration between pharmaceutical companies and research institutes to develop affordable drugs can capture large patient pool. Secondly, government initiatives to spread awareness regarding fascioliasis, especially in developing nations opens new avenues.

Threats: Two major threats are patent expiries of blockbuster drugs and alternative treatment options. Patent expiry allows generic versions weakening innovator drugs market share. Also, alternative therapies like herbal medicines limit the market growth.

Key Takeaways

The Global Fascioliasis Market Growth is expected to witness high, exhibiting CAGR of 4.5% over the forecast period, due to increasing awareness about treatment and diagnosis. The market size for 2023 is US$ 361.3 Mn.

Regional analysis
Asia Pacific dominates the global market and is growing fastest, exhibiting a CAGR of over 5%, due to rising healthcare expenditure, large patient population and government initiatives in countries like India, China and Indonesia. North America is second largest region due to high diagnosis rates and availability of advanced treatment facilities in the US and Canada.

Key players
Key players operating in the fascioliasis market are Novartis AG, AMGIS Lifescience Ltd., Romark, AbbVie Inc., Merck KGaA, AdvaCare Pharma, Intas Pharmaceuticals Ltd., Procyon Life Sciences, Adroit Pharmachem Pvt Ltd., Sun Pharmaceutical Industries Ltd., RV Lifesciences Limited, Grampus Laboratories, and Janssen Pharmaceuticals, Inc.