Diphtheria Treatment Market Size, Share, Trends Analysis By Product Type (Tetanus toxoid, Tetanus immune globulin, Tetanus-diphtheria, Diphtheria toxoid and pertussis), Treatment (antitoxin, antibiotics), End Users and Key Players
The global Diphtheria Treatment Market is predicted to exhibit 3.2% CAGR from 2017 to 2023 (forecast period) to touch a size of USD 5 billion says Market Research Future (MRFR). Diphtheria is a contagious disease which affects the throat and nose and has symptoms similar to the common cold. Although constant efforts by immunization have kept the disease at bay, advanced stages of the disease have been known to damage the heart, kidneys, and nervous system.
Awareness campaigns by reputed health organizations such as World Health Organization (WHO) are likely to work in favor of the market. Drug and syringe manufacturers have decided to tie up for faster administration and delivery of drugs to children between the ages of 0-4. Substitution of adjuvants during the preparation of vaccines to reduce the chances of infection can be a prime opportunity for vaccine developers. But adverse effects of allergies and reactions to type A immunization shots can pose a challenge to the market.
Diphtheria Treatment Market Segmentation Analysis
The global diphtheria treatment market is segmented by product type, treatment, and end-user.
By product type, the global diphtheria treatment market is segmented into superficial diphtheria treatment, deep diphtheria treatment, and others. By treatment, it is segmented into medication and others. By end-user, it is segmented into academic institutes, medical research centers, hospitals and clinics, and others.
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Diphtheria Treatment Market Regional Analysis
The Middle East & Africa (MEA), Asia Pacific, the Americas, and Europe are regions taken into consideration in the compilation of the global diphtheria treatment market report.
The Americas are expected to dominate the global market till 2023 due to contributions from the U.S. Large healthcare expenditure of the country combined with favorable reimbursement schemes can boost the regional diphtheria treatment market demand. Adoption of the latest materials as well as considerable investments in research and development for new formulations of vaccines are likely to generate significant revenue for the market. Europe is the second largest region in the market after the Americas and will generate revenue due to rising awareness and large disposable income levels.
The APAC region can generate revenue at a robust pace due to economies of China and India with large number of children. Relaxation of the one-child policy in China can trigger the demand for diphtheria tetanus shots.
Lastly, the MEA region is led by countries of Saudi Arabia and the United Arab Emirates (UAE). But the region may face a slowdown due to sluggish economic growth rates of African countries. But the region has immense potential for the diphtheria treatment market due to adherence of healthcare policies made mandatory by international bodies, campaigns and immunization programs, and sizeable funding. Donations and contributions from charitable organizations as well as development of low-cost vaccines can augur favorably for the market in the forthcoming years.
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Diphtheria Treatment Market Competitive Analysis
Major industry participants in the global diphtheria treatment market include Wuhan Institute of Biological Products, Sanofi-Pasteur, GSK, Wyeth, Shanghai Institute of Biological Products, Serum Institute of India, Merck & Co., Taj Pharmaceuticals Limited, Chiron Pharmaceutical Pvt Ltd., Bharat Pharmaceuticals, and others. Partnerships with research organizations and academic institutes has been one of the noticeable strategies of these players for gaining the lead in the competition.
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