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Antiparasitic Drugs Market Sales Revenue Analysis 2024-2031, Industry Size, Share And Forecasted | Watson International Limited, Vivaldis, Glenmark Pharmaceuticals Limited

05-20-2024 10:55 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Antiparasitic Drugs Market

Antiparasitic Drugs Market

Market Overview:

Antiparasitic drugs are medicines used to treat and prevent parasitic infections and infestations. They include antiparasitic drugs for malaria, toxoplasmosis, amoebiasis, trichomoniasis, and other parasitic diseases.

Global antiparasitic drugs market is estimated to be valued at US$ 23.40 billion in 2023 and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).

Market Dynamics:

The growth of the antiparasitic drugs market is driven by the rising prevalence of parasitic infections globally. According to the Centers for Disease Control and Prevention (CDC), parasitic infections affect over a billion people worldwide each year. Malaria remains one of the world's leading killers, claiming over 400,000 lives in 2020. Moreover, toxoplasmosis infects approximately one-third of the world's population. The increasing research and development activities by key players to develop novel antiparasitic drugs for treating drug-resistant strains of parasites is also expected to boost the market growth over the forecast period. Additionally, increasing healthcare expenditure in developing countries is estimated to provide lucrative growth opportunities for the antiparasitic drugs market between 2024 and 2031.

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Antiparasitic Drugs Market Market Drivers:

Increasing Prevalence of Parasitic Diseases Worldwide

The growing cases of parasitic diseases such as malaria, leishmaniasis, toxoplasmosis, trypanosomiasis and others across both developed and developing countries is a key factor driving the demand for antiparasitic drugs. According to the World Health Organization (WHO), in 2020 around 229 million malaria cases were reported worldwide. Rising global travel and trade is also contributing to the spread of parasitic diseases to new regions. Furthermore, factors like climate change, urbanization and lack of sanitation facilitates in the propagation of parasites, propelling the need for effective treatment and control measures including antiparasitic drugs.

Government Initiatives and Investments in Parasitic Diseases Treatment and Control

Government bodies and public health organizations of several countries are continuously undertaking various initiatives and public awareness programs regarding parasitic diseases as well as boosting investments towards their research, diagnosis and management. They are also supporting the development of novel and low-cost antiparasitic drugs through funding, approvals and reimbursement policies. For example, the Global Fund to Fight AIDS, Tuberculosis and Malaria and other such international finance organizations are collaborating with drug makers and research institutes engaged in antiparasitic drugs development. This is expected to positively impact the market growth over the forecast period.

Market Restrain:

Patent Expiry of Blockbuster Antiparasitic Drugs

The market is likely to be challenged by patent expiries of major antiparasitic drugs such as Malarone and Coartem in the coming years. Once the patents expire, generic versions of these drugs will be introduced in the market, thereby increasing competition and lowering prices. For instance, the patent of Malarone, used against malaria, expired in 2014 and that of Coartem (contains artemisinin combination therapy) will expire by 2023. This poses a serious threat to branded drug makers in terms of declining sales. It may also discourage them from investing heavily in the R&D of new antiparasitic drugs. However, losing patent exclusivity allows other companies to commercialize low-cost generics, expanding access to life-saving treatments in developing nations.

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Market Opportunity:

Increasing Investments in Research and Development of New Drug Formulations and Combination Therapies

The opportunity for antiparasitic drug manufacturers lies in investing in R&D activities focused on developing novel formulations and drug combinations with improved efficacy against resistant parasite strains, less toxicity and convenient dosing regimens. For example, newer formulations like long-acting injections can ensure better patient compliance for parasitic diseases requiring long-term treatment like trypanosomiasis. Combination therapies are also proving to be an effective strategy as they prevent emergence of drug resistance. With rising R&D spending on antiparasitics, the market is likely to witness the launch of many innovative products in the upcoming decade, thus impelling the revenue growth.

Market Trend:

Shift Towards Development of Oral Antiparasitics

One of the key trends gaining significant momentum in the antiparasitic drugs market is the increasing focus of manufacturers on developing oral drug formulations instead of injectables. The prominent shift is owing to factors such as enhanced pharmacokinetics, lower production costs, improved stability, reduced medical waste and most importantly patient preference for oral drugs over injections. As per industry experts, oral drugs result in better treatment adherence and management of parasitic diseases that require lifelong medication. With technological advancement, oral drugs have now proved equivalent efficacy rates as compared to parenteral administration route. This emerging shift presents lucrative opportunities for stakeholders. R&D initiatives are being undertaken to strengthen oral drug pipeline by overcoming formulation and delivery challenges.

List of TOP Players in Market Report are: -

◘ Merck KGaA
◘ GlaxoSmithKline plc
◘ Dr. Reddy's Laboratories Ltd
◘ Cipla Limited
◘ Cadila Pharmaceuticals
◘ Watson International Limited
◘ Vivaldis
◘ Glenmark Pharmaceuticals Limited
◘ Viatris Inc.
◘ Novartis AG
◘ AdvaCare Pharma
◘ Lupin
◘ Sun Pharmaceutical Industries Ltd.
◘ Aurobindo Pharma

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

By Product Type: Anthelmintics (Anticestodal Drugs, Antitrematodal Drugs, Antinematodal Drugs) Antiprotozoal Agents(Antimalarials Agents, Antibabesial Agents, Antiamoebic Agents, Others (Trypanocidal Agents, Antileishmanial Agents, etc.)) Ectoparasiticide (Antiscabietic Agents, Pediculicides)
By Route of Administration: Oral, Injectable, Topical
By Application: Human Health, Animal Health, Crop Health

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2022
The base year for estimation - is 2022
Estimated Year - 2024
Forecast period** - 2024 to 2031

This Antiparasitic Drugs Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Antiparasitic Drugs market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Antiparasitic Drugs market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Antiparasitic Drugs Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Antiparasitic Drugs , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Antiparasitic Drugs in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Antiparasitic Drugs Market?

We Offer Customized Report, Click @ https://www.coherentmarketinsights.com/insight/request-customization/3782

Summarized Extracts from TOC of Market Study

Chapter 1 Antiparasitic Drugs Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Antiparasitic Drugs

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19's impact on the Antiparasitic Drugs industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Antiparasitic Drugs Market Analysis by Countries

Chapter 9 Asia Pacific Antiparasitic Drugs Market Analysis by Countries

Chapter 10 Middle East and Africa Antiparasitic Drugs Market Analysis by Countries

Chapter 11 South America Antiparasitic Drugs Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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