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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Segmentation & Regional Insights
The antiparasitic drugs market covered in this report is segmented –
1) By Product Type: Anthelmintics; Antiprotozoals; Ectoparasiticide; Other Products
2) By Treatment: Avermectins; Bezimidazoles; Pyrimidines; Organophosphates; Imidazolesthiazoles
3) By Route of Administration: Oral; Injectable; Topical
4) By End User: Hospitals; Homecare; Specialty Clinics; Other End Users
North America was the largest region in the antiparasitic drugs market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in antiparasitic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing incidence of vector-borne diseases is expected to propel the growth of the antiparasitic drugs market going forward. 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. For instance, in August 2023, according to the Pan American Health Organization, a US-based specialized agency of the United Nations, dengue incidences had significantly increased in the US so far in 2023. More than 3 million new infections have been reported so far, exceeding the numbers for 2019—the year with the most significant recorded incidence of the disease in the area, with 3.1 million cases, including 28,203 severe cases and 1,823 deaths. Furthermore, in December 2022, according to the World Malaria Report 2022 published by the World Health Organization, a Switzerland-based intergovernmental organization, 247 million malaria cases were recorded worldwide in 2021, up from 245 million cases in 2020. Therefore, the increasing incidence of vector-borne diseases drives the growth of the antiparasitic drugs market.
Key Industry Players
Major players 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.
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