Antiparasitic Drugs Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the antiparasitic drugs market was valued at USD 22.4 billion in 2022, and a CAGR of 5.8% is expected during the forecast period. The high prevalence of parasitic infections like malaria, helminthiasis, and other neglected tropical diseases, typically in developing countries, is driving significant growth in the market.

Increasing awareness about these diseases and the need for effective treatment is driving the demand for antiparasitic drugs on the market. The trend towards improving existing treatment options is driving the growth of the market significantly. The increasing number of malaria patients and the drug development strategy for malaria are driving the growth of the market.

Impact of Covid-19

Antiparasitic drugs were earlier considered a treatment option for the disease, but later on, due to supply-chain disruptions and stringent lockdown conditions, there was a significant slow growth in the market. There was a shift in priority for people towards COVID-19, and they were not bothered about any other disease except the spread of the novel Corona virus. The increasing demand for efficient malaria treatment is driving market growth. Increased focus on healthcare and infectious disease, leading to heightened awareness about parasitic infections and the importance of preventive measures, is driving the growth of the market. Though the economic uncertainties and financial constraints faced by consumers affected the antiparasitic drug market. Covid-19 pandemic, and increasing prevalence of infectious diseases is driving the demand for these medicines significantly.

Growth Drivers

Increasing demand for antiparasitic drugs market to treat malaria with full efficacy all around the world is driving the growth of the market significantly. North America is the leading region, as in 2023, it was recorded that every 2-3 minutes, a child dies due to malaria, and every year, more than 200 billion cases were recorded worldwide.

Rising awareness about parasitic diseases, advancements in drug development technologies, growing demand for animal healthcare products, government initiatives for controlling parasitic diseases, particularly in developed countries, rising investment in research and development, expanding healthcare infrastructure, and rising disposable income levels are the key factors driving the growth of the market significantly. Human health is one of the most important concerns in regions like North America. Increasing demand for antiparasitic drugs to treat several infectious diseases is driving the growth of the market.

Segmentation

By Application

·         Animal Health

·         Human Health

·         Crop Health

By Route of Administration

·         Oral

·         Injectable

·         Topical

By Product Type

·         Anthelmintic

·         Antiprotozoal Agents

·         Ectoparasitic ides

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Antiparasitic Drugs Market Application Segmentation

On the basis of the application, the antiparasitic drug market is segmented into animal health, human health, and crop health. Human health is the leading segment in the North American region due to the growing pace of treatment for infectious diseases in humans. Increasing awareness of infectious diseases is driving the growth of the antiparasitic market significantly. Increasing preferences in cases of many diseases are driving the demand for antiparasitic medicines worldwide. Animal and crop health have a significant impact on human health. The anti-malarial attribute of this medicine is the key factor, due to which antiparasitic drugs are the most in demand in the world.

Antiparasitic Drugs Market Product Type Segmentation

On the basis of the product type, the antiparasitic market is segmented into anthelmintic, antiprotozoal agents, and ectoparasitic ides. Anthelmintic is the leading segment and is expected to dominate during the forecast period due to the fact that the OIE guide promotes the use of anthelmintic drugs significantly, including anticestodal drugs, antitrematodal drugs, and antinematodal drugs.

Antiparasitic Drugs Market By Route of Administration Segmentation

On the basis of the route of administration, the antiparasitic drug market is segmented into oral, injectable, and topical. Injectable mode is the leading segment and is expected to dominate the market due to increasing preferences for many diseases. As for most parasitic infections, tissue penetration of the antiparasitic drugs is essential for clinical success in treatment.

Regional Outlook

On the basis of the regions, the antiparasitic Drugs market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Increasing awareness of diseases and an increasing number of infectious people are driving the demand for antiparasitic medicine. The United States of America is the leading market due to the increasing number of malaria patients.

During the pandemic as well, the number of COVID-19 patients was the highest in the region, and the presence of some major key players was the reason behind the growth in the market. Increasing investment by the United States government in research and development activities is driving market growth. Increasing technological advancements in the medical sciences are the reason behind the growth of the market.

The Asia-Pacific region, including countries like India, China, and Indonesia, is experiencing significant growth due to a rapidly growing population, increasing urbanization, and increased awareness about the disease. During the pandemic as well, when antiparasitic medicines were considered as the treatment option, the market in India and China, due to the greatest number of COVID-19 patients, experienced significant growth. Initiatives taken by the government in research and development activities and increasing technological adoption by countries are driving the demand for parasitic medicines.

The growing number of infectious people in the region is driving the demand for medicines. Europe is the hub for many research centers and medical laboratories. Increasing innovation in drug development is driving the growth of the antiparasitic market significantly. The medical infrastructure of countries like Germany, Italy, and France is among the best in the world. Demand for medicine is continuously growing in these countries with the spread of COVID-19 and other infectious diseases. The United Kingdom, Netherlands, Sweden, Norway, and Denmark are observing steady growth in the market due to increasing demand for the medicine with the passage of time.

Key Players

·         GlaxoSmithKline Plc

·         Dr. Reddy’s Laboratories Ltd

·         Cipla Limited

·         Pfizer Inc

·         AstraZeneca

·         Glenmark Pharmaceuticals Ltd

·         Novartis AG

·         Sun Pharmaceuticals Pvt. Ltd

·         Aurobindo Pharma

·         Vivaldis

·         Advacare Pharma

·         Cadila Pharmaceuticals

·         Other Players