by Leptospirosis, also known as Weil’s disease, is a bacterial zoonosis caused by spirochetes of the genus Leptospira. Common symptoms include fever, muscle pains, and headaches. Types of preventive vaccines and antibiotics are available to treat infections. The growing initiatives by governments to spread awareness about the disease prevention and control is expected to boost the leptospirosis market. For instance, governments have undertaken programs to vaccinate livestock and educate farmers about improved sanitation practices to reduce transmission.
The global Leptospirosis Market is estimated to be valued at US$ 496.8 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
For instance, in October 2020, researchers from the University of São Paulo and São Januário Hospital launched the results of phase 2 human clinical trials of a vaccine against leptospirosis, called LFB1. The trial results showed that a single shot of the vaccine was 100% effective in preventing the disease. The vaccine is expected to enhance protection against a wider range of Leptospira serovars than existing vaccines. Such product innovations are expected to boost the leptospirosis market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat is moderate as large capital investments and regulatory clearances are required to enter this market. There are also intellectual property protections for major players.
Bargaining power of buyers: The bargaining power of buyers is moderate since the treatment options are limited and buyers cannot substitute treatments. However, the prevalence of the disease is also not very high currently.
Bargaining power of suppliers: The bargaining power of suppliers is low since there are many players offering similar diagnostic kits, antibiotics and vaccines. Suppliers do not have pricing control due to this competition.
Threat of new substitutes: The threat of substitutes is low as there are limited alternative treatment options for leptospirosis currently. Research is ongoing to develop better diagnostics, antibiotics and vaccines.
Competitive rivalry: The competitive rivalry is high among existing players due to their large market share and limited differentiated products currently. Players compete mainly on diagnostic kit prices, drugs cost and vaccine affordability.
Key Takeaways
The Global Leptospirosis Market Size is expected to witness high growth over the forecast period driven by increasing disease prevalence in developing regions. The Asia Pacific region currently dominates the market accounting for over 35% of the global share in 2023. Factors such as rising awareness, growing population and inadequate sanitation facilities continue to fuel the growth of leptospirosis infections in several Asian countries.
Regional analysis also indicates that the markets in Latin America and Africa are projected to grow at an above average pace through 2030. The high prevalence of rodents that spread leptospirosis infections coupled with lack of public health infrastructure makes these regions highly vulnerable to the disease. Both treatment seeking rate and diagnostic testing volumes are expected to surge rapidly in the coming years.
Key players operating in the leptospirosis market are USAntibiotics, Dr. Reddy’s Laboratories Ltd., Century Pharmaceuticals Ltd., Mayne Pharma Group Limited, Sun Pharmaceutical Industries, Inc., Ralington Pharma, F. Hoffmann-La Roche Ltd, Pfizer Inc., Sandoz International GmbH, ISKON REMEDIES & GMT, Haustus Biotech Pvt. Ltd., and Aden Healthcare. These companies actively invest in new technologies and geographic expansions to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
