According to Future Market Insights, Korea is likely to emerge as a profitable market for tuberculous meningitis treatments market between 2023 and 2033. The country is set to play a prominent role in shaping market expansion in the next ten years across Asia Pacific. An anticipated 6.5% CAGR is poised to drive acceleration of the Asia Pacific tuberculous meningitis market from 2023 to 2033.
In 2023, the global market for tuberculous meningitis treatments is expected to reach a value of US$ 150 billion. Between 2023 and 2033, a robust 7.2% CAGR is likely to propel the market to a US$ 300 billion valuation in 2033.
Population in Korea has a long history of tuberculosis. Following the end of the Korean War in 1953, around 6.5% of the population was diagnosed with active tuberculosis. To prevent the situation from going out of hand, the country’s government took a significant step in 1962, when it started the National Tuberculosis Program.
The program was effective in reducing the reported number of cases in the country. At present, Korea is also one of Asia Pacific’s most economically prosperous nations, and its economic status has allowed it to invest heavily in infrastructure to manage tuberculosis. However, tuberculosis still remains a cause for concern in the country.
Korea’s tuberculosis burden is a result of multiple factors. For starters, the country has a sizable elderly population. With aging, host immunity against the virus that causes tuberculosis wanes, and this is what makes the country’s elderly population prone to the disease.
Korea’s diabetic population is also on the rise. Growing prevalence of diabetes is indicative of weakened immune systems that are at risk of contracting tuberculosis. Rising immigrants from high-burden tuberculosis countries such as Mongolia, China, and Pakistan are also thought to have contributed to recurring tuberculosis outbreaks across Korea.
Public-private collaborations have been on the rise in Korea tuberculous meningitis treatment market since 2009. These collaborations are a result of the World Health Organization recommendations. They involve strict patient monitoring, providing financial support to patients diagnosed with multidrug-resistant tuberculosis, and close contact investigations. Treatments from public-private collaborations have been beneficial for several tuberculosis patients in Korea as they have generated positive treatment outcomes.
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Key Takeaways from the Korea Tuberculous Meningitis Treatment Market:
- Korea is estimated to become one of Asia Pacific’s lucrative markets for tuberculous meningitis treatments between 2023 and 2033.
- Factors driving Korea market include the country’s sizable elderly population, rising diabetic population, and increasing number of immigrants from high-burden tuberculosis countries.
- From 2023 to 2033, the Asia Pacific tuberculous meningitis treatment market is expected to expand at a positive 5% CAGR.
- In 2023, the global tuberculous meningitis treatment market value is poised to reach US$ 150 billion.
- A robust 2% CAGR is likely to take the global tuberculous meningitis treatment market’s value to US$ 300 billion in 2033.
“In recent years, Gyeonggi, Seoul, Gyeongbuk, and Busan have reported most of the tuberculosis cases in Korea. Between 2023 and 2033, leading players in Korea tuberculous meningitis treatment market are likely to focus on these cities to launch new drugs,” says a lead analyst at Future Market Insights.
Competition Landscape in the Korea Tuberculous Meningitis Treatment Market:
Manufacturers are aiming to evolve their product development processes to meet tuberculosis meningitis treatment requirements across Korea. Few companies are also focusing on new product launches, mergers, and acquisitions.
Pfizer Inc., GSK plc, and Sanofi S.A. are prominent players in the Korea tuberculous meningitis treatment market.
Recent Developments:
- In August 2022, Organon & Co. and Samsung Bioepis Co. announced that their formulation of HADLIMA had been approved by the United States Food and Drug Administration (FDA).
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Key Companies Profiled:
- Pfizer Inc.
- GSK Inc.
- Sanofi S.A
- Novartis A.G
- Merck & Co.
- AstraZeneca Plc.
- Biomed Pvt. Ltd
- K.T.Z Company Limited
- Sumitomo Group
- Baxter International
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