(MENAFN- GlobeNewsWire - Nasdaq) The chromoblastomycosis treatment market size was valued at USD 977.1 Million in 2023 and is expected to reach a market size of USD 1,436.6 Million by 2032 at a CAGR of 4.4%.
Fort Collins, Colorado, May 10, 2024 (GLOBE NEWSWIRE) --
The global prevalence of chromoblastomycosis treatment boosts their demand.
The chromoblastomycosis treatment market is on an upward trajectory owing to the disease's growing prevalence, particularly in tropical and sub-tropical regions. As per the World Health Organization (WHO), chromoblastomycosis is endemic in various countries, including Brazil, Madagascar, Mexico, and Sri Lanka. A study published in the journal PLOS Neglected Tropical Diseases estimated the global prevalence of chromoblastomycosis to range from 1 to 168 cases per 100,000 population, with rural areas bearing the highest burden. The increasing incidence of chromoblastomycosis is primarily linked to climate change, deforestation, and occupational soil and plant debris exposure.
Furthermore, the Chromoblastomycosis Treatment market is being propelled by the growing awareness surrounding the disease and advancements in diagnostic technologies. In recent years, international organizations and governments have heightened the focus on neglected tropical diseases, including chromoblastomycosis. The WHO's inclusion of chromoblastomycosis in its list of neglected tropical diseases has spurred heightened research and funding for disease control and treatment. Additionally, the evolution of advanced diagnostic tools like polymerase chain reaction (PCR) and matrix-assisted laser desorption/ionization time-of-flight (MALDI-TOF) mass spectrometry has bolstered the accuracy and speed of diagnosis, facilitating early treatment initiation.
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Segmentation Overview:
The chromoblastomycosis treatment market has been segmented into treatment type, sales channel, and region.
The hospitals segment registered a significant market share in 2023.
Based on the market segmentation by sales channel, the concierge medicine market includes hospitals and clinics, retail pharmacies, and online pharmacies. In 2023, the largest segment is hospitals and clinics. Concierge medicine providers primarily operate through hospitals and clinics, where patients can receive personalized care and access a wide range of healthcare services.
Antifungal drugs accounted for a substantial market share in 2023.
Based on market segmentation by treatment type, the chromoblastomycosis treatment market includes antifungal drugs, surgical excision, cryotherapy, thermotherapy, and combination therapy. Antifungal drugs will be the largest segment in 2023.
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Chromoblastomycosis Treatment Market Report Highlights:
The chromoblastomycosis treatment market growth is anticipated at a CAGR of 4.4% by 2032.
The increasing prevalence of Chromoblastomycosis encourages industry growth.
Latin America currently dominates the chromoblastomycosis treatment market, accounting for the largest share in terms of revenue.
Some prominent players in the chromoblastomycosis treatment market report include Novartis AG, Pfizer Inc., Sanofi, Johnson & Johnson, Bayer AG, Gilead Sciences, Inc., Merck & Co., Inc., GlaxoSmithKline plc, Mylan N.V., Teva Pharmaceutical Industries Ltd., Glenmark Pharmaceuticals Ltd., and Viatris Inc.
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