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Malaria Treatment Market 2033: Size, Share, Analysis, and Growth Forecast
Malaria Treatment Global Market Report 2024
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According to The Business Research Company's, The malaria treatment market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.57 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to discovery of effective drugs, vector control efforts, global health initiatives, scientific research, health infrastructure development.
The malaria treatment market size is expected to see strong growth in the next few years. It will grow to $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to drug resistance monitoring, climate change impact, precision medicine and genomic approaches, healthcare financing reforms, integration of digital health solutions. Major trends in the forecast period include epidemiological surveillance enhancement, alternative medicine integration, malaria vaccines development, data-driven treatment programs, education and training programs.
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Market Drivers and Trends:
The high incidence of malaria is expected to propel the growth of the malaria treatment market going forward. Malaria refers to a potentially life-threatening mosquito-borne disease caused by the Plasmodium parasite, characterized by recurring fever and other flu-like symptoms. This shift has resulted from poverty, limited access to healthcare services, climate change, lack of malaria control measures, and drug resistance. Malaria treatment helps to effectively manage and cure the infection caused by the Plasmodium parasite. For instance, in November 2023, according to World Malaria Report by World Health Organization, a Switzerland-based international public health organization, in 2021, 247 million cases of malaria were reported as compared to 245 million cases in 2020. Therefore, the high incidence of malaria is driving the growth of the malaria treatment market.
The development of novel diagnostic technologies is a key trend gaining popularity in the malaria treatment market. Companies operating in the malaria treatment market are adopting novel diagnostic malaria detection technologies to sustain their position in the market. For instance, in October 2021, Sysmex America Inc., a US-based automated diagnostic technology developer, and manufacturer, launched XN-30- an automated hematology analyzer for malaria detection. The XN-30 has novel features like a violet laser, specialized reagents, and advanced algorithms which enable differentiation between malarial strains like P. falciparum and non-falciparum species and understand their life cycle staging. This detection aids in the effective management of malaria treatment and recovery of the patients.
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Major Key Players of the Market:
Pfizer Inc., Merck & Co., Johnson & Johnson, Roche Holding AG, Bayer AG, Novartis AG, Sanofi SA, AstraZeneca Plc, GlaxoSmithKline PLC., Takeda Pharmaceutical Company Limited, Sumitomo Chemical Co. Ltd., Viatris Inc., Mylan N.V., Sandoz International GmbH, Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Serum Institute of India, Cipla Ltd., Amneal Pharmaceuticals LLC, Lupin Ltd., Zydus Lifesciences Limited, Ipca Laboratories Ltd., Chongqing Holley Pharmaceutical Co. Ltd., Zydus Lifesciences Ltd., Medicines Sans Frontières (Doctors Without Borders), Strides Pharma Science Limited, Swiss Tropical and Public Health Institute (Swiss TPH), Aprecia Pharmaceuticals LLC, AdvaCare Pharma USA LLC, Medicines for Malaria Venture (MMV), VLP Therapeutics LLC, Actiza Pharmaceutical Private Limited
Malaria Treatment Market 2024 Key Insights:
• The malaria treatment market size is expected to see strong growth in the next few years. It will grow to $1.94 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.
• A Rising Tide Of Cases Propels Growth In The Malaria Treatment Market
• Sysmex America's Xn-30 Hematology Analyzer Revolutionizes Malaria Detection In The Pursuit Of Advanced Treatment
• Middle East and Africa was the largest region in the malaria treatment market in 2023
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