Cryptococcosis Market after expanding at a CAGR of 4.8% from 2016 to 2024

The highly fragmented global cryptococcosis market is being pioneered by only a handful of players based in developed regions of the world. Pfizer, Inc., Valeant Pharmaceuticals, Inc., Bristol-Myers Squibb Company, and Janssen Biotech, Inc. had collectively held a share of 41% in the global cryptococcosis market in terms of value, for 2015. Their dominance in the market was marked by factors such as operating stronghold in developed economies where the demand and awareness are high, better brand name recognition, and higher investments in research and development.

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Transparency Market Research reveals in a recently released market intelligence report that leading players from the global cryptococcosis market are likely to participate in a wave of mergers and acquisitions in all key regions of the market over the coming years. Business conglomerates have significant investments in the recent past to bring to fruition their research and development efforts for new drugs and are interested in expanding their distribution chain to broader regions. The global cryptococcosis market was calculated to reach US$4.31 bn by the end of 2016, and is projected to reach US$6.2 bn by the end of 2024, after expanding at a CAGR of 4.8% from 2016 to 2024.
cryptococcosis market

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Cryptococcosis Count Rising across the Globe
“The key factor currently working for the growth of the global cryptococcosis market is the growing count of patients being infected by the disease. Although previously classified as a rarely occurring illness, cryptococcosis is seen to be growing in count across the globe and the healthcare industry is aware of this. The CDC had stated earlier that close to a million new cases of cryptococcosis are being spotted globally each year and are the cause of 625,000 deaths. The current gold standard for cryptococcosis treatment – Amphotericin B plus oral flucytosin – is at the forefront of the demand so far. The scope for other existing and pipeline treatments is also very high,” states a TMR analyst.

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Aiding the growth rate of the global cryptococcosis market are multiple governments highly interested in eradicating the disease from their nations. The increasingly powerful efforts put in by governments are allowing players in the market to invest better into advanced treatment options and the development on pipeline drugs, as well as the better distribution of existing ones. The count of cryptococcosis patients is also directly linked to the diagnosis of HIV, which is another growing count in the world. The increasing number of HIV patients are shown to be highly likely to develop cryptococcosis during late-stage HIV infection, further pushing the demand for cryptococcosis treatment.

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High Cryptococcosis Mortality Rate Hampers R&D
One of the key factors holding the global cryptococcosis market back currently is the very high mortality rate among cryptococcosis patients. Pneumocystis pneumonia and cryptococcal meningitis are the two greater fungal infections that lead to death in the world. The mortality rate of HIV patients who get diagnosed with cryptococcosis is extremely close to 100%. This gives a very minor scope of development of existing and pipeline drugs as it can cripple the overall testing phase. The market is also expected to face severe degradation of quality due to the imminent patent expirations and the consequent surge of generics. Their extremely low pricing will allow them to take up large demand volumes in all regions, disallowing branded manufacturers from generating enough to invest in further research and development.

“The future of the global cryptococcosis market can lie in the installation of integrated facilities in the regions where penetration potential is currently at an all-time high. These integrated facilities can allow manufacturers in the pharmaceutical industry to reduce operating costs and increase production speeds, allowing them to maintain a competitive edge against rivals,” adds the analyst.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.