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Antiparasitic Drugs Market Analysis, Trends, Growth, Research And Forecast 2033
Antiparasitic Drugs Market
The Business Research Company's Antiparasitic Drugs Global Market Report 2023 identifies the increasing incidence of vector-borne diseases as the major driver for the antiparasitic drugs market's growth in the forecast period. Vector-borne diseases refer to infectious diseases transmitted to humans or other animals through the bite of arthropods, primarily insects like mosquitoes, ticks and flies. Some examples of vector-borne diseases include malaria, dengue and yellow fever. Antiparasitic drugs play an essential role in stopping the spread of vector-borne diseases by targeting and eliminating the parasites responsible. A few antiparasitic drugs, including chloroquine, doxycycline and atovaquone-proguanil, are commonly used to cure malaria.
The antiparasitic drugs market size has grown strongly in recent years. It will grow from $22.47 billion in 2023 to $24.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to prevalence of parasitic infections, resistance to existing treatments, global health initiatives, .
The antiparasitic drugs market size is expected to see strong growth in the next few years. It will grow to $31.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to emerging parasitic threats, climate change and vector-borne diseases, increased emphasis on global health security, access to healthcare. Major trends in the forecast period include advances in drug development, targeted therapies, combination therapies, public-private partnerships, telemedicine and remote diagnosis.
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Major competitors in the antiparasitic drugs market are Pfizer Inc., Johnson & Johnson, Cadila Pharmaceuticals, Merck & Co.Inc., Bayer AG, Novartis AG, Sanofi S.A., GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim group, Zoetis Inc., Eisai Co. Ltd., Covetrus Inc., IDEXX Laboratories Inc., Dr. Reddy's Laboratories, Intas Pharmaceuticals Ltd., Alkem Laboratories Ltd., Ceva Sante Animale S.A., Elanco Animal Health Incorporated, Phibro Animal Health Corporation, Norbrook Laboratories Ltd., Mankind Pharma, Neogen Corporation, Bimeda Inc., Indoco Remedies Ltd., ECO Animal Health, Lincoln Pharmaceuticals Ltd., Laboratorios Calier.
A key trend in the antiparasitic drugs market includes technological advancement. The rising resistance to antimalarial drug regimens is higher than antiparasitic drugs which can act as a challenge and may restrain the market's growth during the forecast period. The development of combination medicines, which are more efficient but also more expensive, may be influenced by the increasing resistance to antimalarial medications. These factors may have a negative impact on market expansion by restricting access to antiparasitic drugs and boosting the cost of patient treatment. For instance, in January 2021, according to Biomed Central Ltd., a for-profit scientific open access publisher, from 47,382 samples, 18,706 SNPs of anti-malarial medication resistance indicators were genotyped, resulting in a pooled prevalence of 35.4% (95% CI 29.1-42.3%). Therefore, the rising resistance to antimalarial drug regimens is hindering the growth of the antiparasitic drugs market.
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The antiparasitic drugs market is segmented -
• By Product Type: Anthelmintics, Antiprotozoals, Ectoparasiticide, Other Products
• By Treatment: Avermectins, Bezimidazoles, Pyrimidines, Organophosphates, Imidazolesthiazoles
• By Route of Administration: Oral, Injectable, Topical
• By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the antiparasitic drugs market.
The Business Research Company's "Global Antiparasitic Drugs Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Antiparasitic Drugs Market Include:
1. Executive Summary
2. Antiparasitic Drugs Market Characteristics
3. Antiparasitic Drugs Market Trends And Strategies
4. Antiparasitic Drugs Market - Macro Economic Scenario
……
32. Global Antiparasitic Drugs Market Competitive Benchmarking
33. Global Antiparasitic Drugs Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Antiparasitic Drugs Market
35. Antiparasitic Drugs Market Future Outlook and Potential Analysis
36. Appendix
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