SAN FRANCISCO, April 17, 2019 /PRNewswire/ -- The global artemisinin combination therapy (ACT) market size is expected to reach USD 697.9 million by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 8.5% during the forecast period. Rising adoption rate of ACTs coupled with growing government initiatives to combat malaria epidemic is anticipated to stoke the growth of the market. Furthermore, expanding pipeline and new product approvals are driving the market.
Key suggestions from the report:
AL was the largest segment in 2017 due to the fact that it was the first ACT to be marketed and prequalified by WHO for its efficacy, safety, and quality. It is available in more than 60 countries and is the only ACT approved by U.S. FDA
MEA held the largest share in the market for ACTs due to growing initiatives by government and non-government organizations to raise awareness
Asia Pacific also held a prominent position in the market owing to factors such as large production base of artemisinin herbs coupled with rising access to ACT in this region
Major players operating in the market are Novartis, Sanofi, Cipla, Ajanta Pharma, Ipca Laboratories, Guilin Pharmaceuticals, and KPC Pharmaceuticals
Key players are adopting different strategies to increase their market share such as increasing geographic presence, R & D, new product development, and indication extension.
Currently, 6 ACTs are recommended by WHO for the treatment of uncomplicated malaria, which are Artemether-Lumefantrine (AL), artesunate-amodiaquine, Artesunate-Mefloquine (AS-AQ), Dihydroartemisinin-Piperaquine (DHA-PPQ), Artesunate-Sulfadoxine-Pyrimethamine (AS-SP), and Pyronaridine-Artesunate (PR-AS). Some of the benefits provided by ACTs are high efficacy and reduced likelihood of developing resistance. Over the years, access to artemisinin combination therapy has expanded considerably. In 2016, ACTs were used as first-line treatment in almost 80 countries.
Increasing R & D initiatives by pharma-emerging countries such as India and China are revving up the adoption rate of ACTs. Rising demand from malaria endemic countries such as Kenya, Uganda, Nigeria, and Congo is poised to augment the market. Pipeline for new antimalarial drugs is widening and some of them have been introduced recently. These are some of the factors that are propelling the ACT market.
WHO states the necessity for treating uncomplicated malaria, the most serious form of the disease, with ACTs as they are the best treatment available. ACTs are recommended over other treatments including Sulfadoxine-pyrimethamine, chloroquine, and artemisinin monotherapies, because parasites have developed resistance to these medicines.
Malaria is one of the most distressing diseases across the globe with more than 200 million new cases reported each year. According to Medicines Malaria Venture (MMV), a total of 445,000 deaths were caused by malaria worldwide in 2016. Malaria epidemic is continuing to increase globally and climate change is projected to fuel the trend.
Grand View Research has segmented the global artemisinin combination therapy market on the basis of type and region:
Artemisinin Combination Therapy Type Outlook (Revenue, USD Million, 2014 - 2025)
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.