Rise in incidences of parasitic infections, increase in awareness of preventive measures against helminth infections and availability of generic medications drive the growth of the global anthelmintic drugs market.
PORTLAND, Ore., Dec. 5, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Anthelmintic Drugs Market by Drug Class (Benzimidazoles, Macrocyclic Lactones, Pyrazinoisoquinolones, Tetrahydropyrimidines, and Others), Infection Type (Cestode Infections, Nematode Infections, Trematode Infections, and Mixed Infections), and Distribution Channel (Hospital Pharmacies, Drug Stores and Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2023-2032". The global anthelmintic drugs market was valued at $1.0 billion in 2022, and is projected to reach $1.5 billion by 2032, registering a CAGR of 3.8% from 2023 to 2032.
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Prime determinants of growth
Key factors driving the growth of the anthelmintic drugs market include rise in incidences of parasitic infections, increase in awareness of preventive measures against Helminth infections, and surge in awareness of preventive measures against helminth infections. One of the most important reasons for the growth of the anthelmintics market is the increase in awareness of prevention measures against Helminth infection. In addition, the rise in incidences of parasitic infections around the globe is driving the market growth. This increased awareness and rise in prevalence lead to a more proactive approach to control the spread of the helminth, which in turn leads to an increase in the number of people seeking timely treatment with the help of anthelmintics, which contributes to the market growth.
Report coverage and details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Drug Class, Infection Type, Distribution Channel and Region
Rising incidences of parasitic infections
Growing awareness of preventive measures against helminth infections
Availability of generic medications
Growth opportunities in emerging markets
High cost of anthelmintic drugs
Lack of awareness and education about infectious diseases
Economic Downturn Analysis: Impact of Recession in 2023 on the Anthelmintic Drugs Market
- The anthelmintic drugs market is affected by recessions as much as any other sector of the economy. The market is experiencing both positive and negative impacts from a recession.
- A recession denotes a phase characterized by a reduction in economic activity, often including decline in various economic indicators. During a recession, there might be decrease in research funding, both from government sources and private institutions.
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The benzimidazoles segment to maintain its leadership status throughout the forecast period
Based on drug class, the benzimidazoles segment held the highest market share in 2022, accounting for nearly one-third of the global anthelmintic drugs market revenue. The key drivers for the growth of the segment is the rise in number of prescriptions for drugs such as albendazole and mebendazole for the treatment of parasitic infectious disease.
On the other hand, the macrocyclic lactones segment is anticipated to be the fastest growing segment during the forecast period. The growth of the segment is mainly attributed to the rise in adoption of ivermectin drug both in branded and generic form for the treatment of parasitic infections.
The nematode infections segment to maintain its lead position during the forecast period
Based on infection type, the nematode infections segment accounted for the largest share in 2022, accounting for more than one-third of the global anthelmintic drugs market revenue and is anticipated to be the fastest growing segment during the forecast period. The growth is mainly attributed to the significant prevalence of nematode infections around the globe along with rise in awareness about early diagnosis and treatment of parasitic infections.
The drug stores and retail pharmacies segment to maintain its lead position during the forecast period
Based on distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022, accounting for more than half of the global market. Their widespread presence and accessibility increase the availability of these treatments to a broad consumer base.
On the other hand, the online providers segment is anticipated to be the fastest growing segment during the forecast period. Online providers offer a convenient platform for purchasing anthelmintic medications. Consumers can access a wide range of anthelmintic drugs from various brands and formulations through online pharmacies or e-commerce platforms.
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North America to maintain its dominance by 2032
North America dominated the market in 2022, accounting for more than two-fifths share of the global market, owing to the well-established healthcare infrastructure and availability of highly advanced medical diagnostics and treatment facilities in this region.
On the other hand, Asia-Pacific is anticipated to be the fastest growing segment during the forecast period, which is attributed to rising healthcare expenditure, and developing healthcare infrastructure. In addition, the large population base is also contributing to increased diagnosis and treatment for helminths infections in this region.
Leading Market Players: -
- GlaxoSmithKline plc
- Johnson & Johnson
- Merck & Co., Inc.
- Bayer AG
- Cipla Ltd.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Limited
- Reese Pharmaceutical Company
- Zydus Lifesciences Limited
The report provides a detailed analysis of these key players in the global anthelmintic drugs market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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