Global Neglected Tropical Diseases Drugs and Vaccines Market: Overview
Pertinent issues like sanitation, cleanliness, and hygiene still worry several parts of the world even today. This results in spike of infections and diseases that more often than not, get neglected. They are termed as neglected tropical diseases. World Health Organization claims that these disease affect nearly 1 billion people across the globe. This explains the potential for companies in the global neglected tropical diseases drugs and vaccines market. Over the years, the market for drugs and vaccines for neglected tropical diseases has garnered weight which can be attributed to the rising measures taken by WHO and members of the United Nations to reduce disease burden.
An upcoming report on the global neglected tropical diseases drugs and vaccines market by Transparency Market Research promises to provide every minute detail pertinent for scaling business in the coming years. It covers the existing trends, challenges, opportunities, key developments, geographical analysis, and competitive landscape.
Global Neglected Tropical Diseases Drugs and Vaccines Market: Notable Developments
Inundated with infections and diseases, the number of notable developments in the global neglected tropical diseases drugs and vaccines market is exhaustive. Some the prominent developments that could aid growth in the coming years include
- Takeda’s vaccine for dengue, Dengvaxia, is expected to hit the market by 2020. This will instill competition among players. Further, vaccine for Zika virus in\s under clinical trial phase II or III.
- In 2017, the World Health Organization (WHO) decided to add new diseases like deep mycoses, snakebites, chromoblastomycosis, and other ectoparasites. The development came after WHO received proposals from different stakeholders to include them in the list of neglected tropical diseases.
- During Global Partners Meeting in April 2017, many players of the global NTD drugs and vaccines market along with philanthropists, and governments decided to pump in US$800 million in the next 5 to 7 years to eliminate NTDs.
- At least nine leading pharmaceutical companies, the WHO, technprenuer and philanthropist Bill Gates, and several political leaders across the world came together to sign the London Declaration. The agreement vows to raise funds to eradicate at least 10 out of the 17 targeted NTDs.
Besides these collective efforts, most players in the global market for NTD drugs and vaccines are investing in research and development to launch new drugs for the targeted diseases. Some of the leading brands in the global neglected tropical diseases drugs and vaccines market are GSK, Merck, and Takeda.
Global Neglected Tropical Diseases Drugs and Vaccines Market: Key Trends
Increasing Public Private Partnerships
The past decade when it comes to NTDs has been about collective efforts from all the stakeholders of healthcare to eliminate NTDs. Several new programs have been launched to roll out measures that will increase awareness, provide treatment, and reduce disease burden especially in under developed countries. As more such programs come into effect, the demand for vaccines and drugs for NTDs will shoot up.
Growing Migrant Population in Developed Nations
According to the International Migration Report of 2017, out of the 85 million total migrants since 2000, 64 million are into developed or developing countries. This trend has impacted the disease burden due to NTDs over the years. As a result, most developed countries have enforced laws to protect natives from NTDs. This has augmented demand in the last 10 years for drugs and vaccines to treat or prevent neglected tropical diseases.
Need for Quality Drugs
High quality drugs has remained a long-unsolved issue in the global neglected tropical diseases drugs and vaccines market. The last decade has been witness to huge amounts of funding to develop better drugs to treat NTDs. About 70 drugs have entered clinical phase trial I, and some of them are in the final stages of development. It is highly expected that in the forecast period, one could witness launch of one or more drugs.
Global Neglected Tropical Diseases Drugs and Vaccines Market: Geographical Analysis
In the widespread market for NTD drugs and vaccines, North America is expected to remain at the helm. The heavy inflow of migrant population from underdeveloped or developing nations is the prime reason influencing demand here. Besides, Europe will also remain equally important for players in the global neglected tropical diseases drugs and vaccines market. On the other hand, it is predicted that Asia Pacific will emerge as a target region. Developing healthcare, thrust from governments to reduce NTDs, and increasing awareness among people, will stimulate demand here.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.