by The Fascioliasis Market is estimated to be valued at US$ 361.3 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Fascioliasis, also known as fasciolosis or hepatic distomiasis, is a parasitic disease caused by two species of trematode Fasciola hepatica and Fasciola gigantica. These trematodes invade certain mammals, especially cattle and sheep, through ingestion of water plants such as watercress on which the infective larval cysts encyst. In humans, the parasites migrate and reside in bile ducts where they cause inflammation and liver damage. Symptoms include abdominal pain, nausea, diarrhea, fever and hepatomegaly. The disease is endemic in certain parts of Africa, Asia, Europe and South America. Diagnosis is based on identification of eggs in stool samples under microscopy. Treatment involves triclabendazole or albendazole along with praziquantel for relief. Vaccines are being developed to prevent spread in livestock.
Market Dynamics:
The key drivers fueling the growth of the market include increasing prevalence of fascioliasis across developing regions of the world due to unsanitary conditions and lack of clean drinking water. Globally, over 2.4 million people are estimated to be infected with fascioliasis, with 180 million individuals at risk of infection. As per WHO, fascioliasis is recognized as an imminent public health concern in 51 countries. Growing livestock industry in tropical regions has also resulted in higher transmission of infection from animals to humans. Moreover, increasing adoption of triclabendazole and other anthelmintic drugs for treatment is contributing to market growth. However, lack of awareness regarding symptoms in resource-poor settings poses a challenge to effective diagnosis and treatment. Manufacturers are investing in R&D to develop early detection tools, vaccines and new drug molecules to expand treatment options.
Segment Analysis
The fascioliasis market is segmented based on species, drug class, end users and geography. Based on species, the market is segmented into F. hepatica and F. gigantica. Of these, F. hepatica dominates the segment accounting for over 70% of total cases. It is primarily found in cattle and sheep, which results in higher index of infection.
PEST Analysis
Political: Governments are focusing on public health programs to curb fascioliasis. Subsidies and investments are being made in disease diagnosis, treatment and awareness campaigns.
Economic: Rising per capita incomes in developing nations is boosting healthcare expenditures. This is propelling the demand for effective drugs and diagnostics for fascioliasis treatment.
Social: Non-governmental organizations are spreading awareness about fascioliasis prevention through various health initiatives. This is helping reduce stigma and drive market growth.
Technological: Advancements in immuno-diagnostic techniques have improved disease detection capabilities. Novel drug delivery systems are also being researched to enhance treatment effectiveness.
Key Takeaways
The Global Fascioliasis Market Growth is expected to witness high, exhibiting CAGR of 4.5% over the forecast period, due to increasing initiatives towards control and eradication of snail-borne parasitic infections.
Regional analysis
Asia Pacific dominates the global fascioliasis market and is expected to grow at the fastest rate owing to rising patient pool, growing meat consumption, lack of sanitation and increasing government focus on fascioliasis control programs in countries such as China, Philippines and India.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
