The global market for cryptococcosis exhibits a highly fragmented
competitive landscape due to the presence of a large number of small,
medium, and large scale vendors. Although the market is currently
cluttered with the presence of numerous players, the global market
for cryptococcosis was characterized by the presence of only a
handful of players a couple of decades back. The market players who
have existed in the market for a longer period of time have
established their strongholds as against other relatively new
vendors. However, it is doubtful that any of the leading players have
been able to make handsome profits over the course of their
existence. This is because the scope for research and development
while formulating lines of treatment for cryptococcosis is extremely
petty.
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The market vendors have been trying to emulate successful research
pathways for treatment and cure of cryptococcosis but to no avail.
The competition amongst the leading market players has been rising
over the past years, and the entry of new players has added to the
woes of the established players. It is anticipated that the market
players would increase their investments in research and development
to outdo the competitors. Furthermore, the large market players are
expected to form strategic alliances in order to retain their
supremacy in the market. Some of the key players in the global market
for cryptococcosis are Bristol-Myers Squibb Company, Pfizer, Inc.,
and Valeant Pharmaceuticals, Inc.
The global cryptococcosis market is expected to grow at a steady CAGR
of 4.80% over the period between 2016 and 2024. Moreover, the global
market registered a total revenue of US$4.31 bn in 2016 and this
figure is expected to elevate to US$6.2 bn by 2024-end.
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Prevalence of HIV Drives Demand
Cryptococcosis is mostly diagnosed in patients who are HIV positive,
and hence, the rising number of such patients has given a boost to
the demand within the global market cryptococcosis. Moreover,
cryptococcosis was considered to be a rare disease a decade ago, but
the world has witnessed an upsurge in the number of cases of the
disease in recent times. This has been a key factor that has driven
demand within the global market for cryptococcosis. The healthcare
industry has been increasingly concerned with regards to the
treatment of the disease following which the demand for amphotericin
B plus oral flucytosin (an antidote for cryptococcosis) has risen
across the globe. The handsome investments made by governments and
international healthcare centers for the development of better drugs
has also accelerated the growth of the global market for
cryptococcosis.
High Mortality Rate Associated with Cryptococcosis to Hamper
Market Growth
The high mortality rate of patients diagnosed with cryptococcosis has
been a major roadblock to the growth of the global market for
cryptococcosis. The mortality rate of HIV positive patients who
simultaneously develop cryptococcosis almost tends towards 100%. This
does not allow proper research about the causes, triggers, and
therapeutic actions for cryptococcosis. Furthermore, the low cost of
generic drugs has disabled the large market players from reaching out
to the patients or consumers.
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