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A zoonotic disease is defined as a disease caused by the spread of infections from animals to humans. Parasites, fungi, and bacteria primarily cause zoonotic diseases. Malaria, rabies, animal flu, dengue, and others are some zoonotic diseases. The rise in the prevalence of malaria, dengue, animal flu and others has propelled the demand for the drugs used to treat zoonotic diseases.
The prevalence of some zoonotic diseases, including malaria, dengue, and animal flu, has increased significantly over the past few years.
Thus, the increasing patient population suffering from zoonotic diseases, along with the growing need to fulfil their unmet needs, is fueling the demand for effective zoonotic drugs. Market players are focusing R&D initiatives for developing new drugs. Moreover, government organizations have also increased the expenditure on research activities to develop the drugs used to treat dengue, malaria, animal flu, and other zoonotic diseases.
The rise in research in the development of antimalarial and dengue drugs will lead to the entry of novel molecules for zoonotic therapy in the market, thereby driving the growth of the market.
The COVID-19 pandemic had a negative impact on the global zoonotic treatment market. Implementation of the lockdowns led to a decline in the availability of healthcare procedures and services unrelated to COVID-19. This was relevant for disease treatments such as zoonotic diseases, which hindered the treatment of the diseases. Additionally, the decline in the patient volume for the testing and diagnosing of zoonotic diseases, including dengue, rabies, ebola, and others, impacted the testing across several regions. Additionally, the resources used to treat zoonotic diseases were diverted to the fight against COVID-19.
For instance, according to an article published by the National Library of Medicine (NIH) in September 2022, the number of patients diagnosed with dengue declined by around 16% as compared to the previous year. Several companies manufacturing the drugs used to treat zoonotic drugs witnessed declining revenues due to decreased sales of their malaria and dengue diagnosis instruments and consumables during the pandemic.
The report will cover the following key insights:
The hospital pharmacy segment accounted for a significant global zoonotic treatment market share. The major share of the segment is attributed to the fact that the majority of the medications for the treatment can only be prescribed after thorough examinations by trained medical professionals at these institutions. Moreover, the government's rising initiative towards improving these institutions' facilities and infrastructure enables hospital pharmacies to gain preference among the people.
The online segment accounted for a significant CAGR during the forecast period. The segment's growth is attributed to the rising number of patients purchasing medicines through online distribution channels and the increasing number of e-pharmacy start-ups. These are some of the factors driving the segment's growth.
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North America constituted a significant share of the global zoonotic treatment market. The rise in the prevalence of zoonotic diseases, including malaria, dengue, and others, has accelerated the demand for zoonotic drugs.
The increase in dengue and malaria cases has led to a rise in demand for zoonotic disease drugs. Thus, owing to these factors, the demand for zoonotic drugs is anticipated to rise in the coming years.
Europe constituted the second largest share in the zoonotic disease treatment market. The rise in the disease outbreak across Europe has led to an increase in the adoption of zoonotic disease treatment.
Asia Pacific is anticipated to grow significantly in the estimated forecast period. The increase in research and development activities across China, Japan, and India is primarily driving the market growth in the region.
The report includes the profiles of key players, including Novartis AG, Otsuka Pharmaceutical Co., Ltd., Teva Pharmaceutical Industries Ltd., Sanofi, Pfizer Inc., Sun Pharmaceutical Industries Ltd., Strides Pharma Science Limited, Sarepta Therapeutics, Inc., Macleods Pharmaceuticals Ltd., and Lupin.
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