by The global fascioliasis Market is estimated to be valued at US$ 361.3 Mn or 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 is an illness caused by infection with the parasitic flatworms called Fasciola hepatica (liver flukes). The parasites infect the liver of sheep, cattle, and humans. The infection is commonly known as fasciolosis and symptoms may include weight loss, diarrhea, and abdominal pain.
Market key trends:
The rising prevalence of fascioliasis infection especially in developing countries is driving the market growth. As per the World Health Organization (WHO), the global burden of human fascioliasis is estimated to be over 2.4 million cases. Moreover, due to climate change and increasing temperatures, the vector snails transmitting this disease are spreading to newer regions, thereby expanding the geographical reach of this infection. Changing livestock management practices and increased contamination of water bodies have further increased the risk of fascioliasis transmission across humans and animals.
Market key trends:
One of the key trends in the fascioliasis market is the increasing prevalence of fascioliasis across the globe. Fascioliasis, also known as fasciolosis, is a parasitic disease caused by liver flukes of the genus Fasciola. It affects the liver and bile ducts of sheep, cattle, and human. According to the World Health Organization (WHO), over 2.4 million people worldwide are estimated to be infected with fasciolasis. The prevalence of fasciolasis in humans is increasing due to rising consumption of raw or undercooked watercress and other types of infected water plants.
SWOT Analysis
Strength: The fascioliasis market has a strong pipeline of drugs in various stages of clinical trials. This provides lucrative growth opportunities.
Weakness: Difficult diagnosis of fasciolasis poses a challenge for the growth of this market.
Opportunity: Increasing cases of fasciolasis infection across developing regions presents an opportunity for market players. Growing awareness about the disease can also boost the market.
Threats: Lack of accurate data on disease prevalence in certain regions is a threat. High cost of treatment is also a challenge.
Key Takeaways
The Global Fascioliasis Market Size is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing consumption of raw vegetables.
Regional analysis: Asia Pacific is expected to dominate the global fascioliasis market during the forecast period. This is attributed to the rising incidence of fascioliasis infections in developing countries such as India. According to estimates, approximately 180 million people are at risk of fasciolaisis infection in the Asia Pacific region.
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
