The antimalarial drugs market is projected to grow significantly by 2026, driven by rising malaria cases and government initiatives, despite challenges like drug resistance.
Malaria is a deadly infectious disease, which is transmitted through the bite of female Anopheles mosquito. The infection spreads to liver cells where the parasites multiply at a fast rate to invade red blood cells. These parasites further grow and mature in red blood cells to form merozoites, which are released upon the rupture of red blood cells to invade other blood cells. This leads to fever, tiredness, vomiting, headaches, impaired consciousness, multiple convulsions, and abnormal bleeding. Hence, the drugs which are employed in the treatment of malarial infection are called as antimalarial drugs. There are different types of antimalarial drugs such as quinine, chloroquine, proguanil, mefloquine, pyrimethamine, and others available in the market.
The global antimalarial drugs market was valued at $711,360 thousand in 2018, and is expected to reach $1,019,396 thousand by 2026, registering a CAGR of 4.6% from 2019 to 2026.
Covid-19 Scenario:
1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
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The major factor that drives the growth of the antimalarial drugs market include rise in prevalence of malaria in developing countries. Furthermore, rise in awareness initiatives by governments and surge in research for new antimalarial drugs are some of the factors that boost the growth of the market. However, lack of awareness about healthcare in developing countries is a major factor that restricts the growth of the antimalarial drugs market in the region. Conversely, growth opportunities exhibited by emerging economies are expected to offer lucrative opportunities during the forecast period.
The antimalarial drugs market size is studied on the basis of drug class, distribution channel, and region to provide a detailed assessment of the market. On the basis of drug class, it is segmented into quinine, chloroquine, proguanil, mefloquine, pyrimethamine, and others. By distribution channel, it is bifurcated into hospital pharmacy, retail pharmacy, and e-commerce & other distribution channel. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
According to drug class, the others segment occupied the major share of the antimalarial drugs market. Furthermore, the segment is also expected to exhibit the fastest growth rate during the forecast period, owing to the factor that malaria parasites have successfully developed resistance against most of the drugs already available in the market.
By distribution channel, the hospital pharmacy segment acquired the major share due to rise in number of hospitals worldwide. Furthermore, antimalarial drugs are prescription-based medications, which are mostly prescribed by the specialized healthcare professionals available in hospitals; thereby, propelling the growth of this segment. Conversely, the e-commerce segment is expected to exhibit the fastest growth rate during the forecast period, owing to surge in the use of internet across the globe.
By region, North America accounted for the major antimalarial drugs market share in 2018 and is expected to continue this trend, owing to easy availability of antimalarial drugs. Moreover, surge in incidence of malaria is another major reason that contributes to the growth of this market. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period due to increase in awareness regarding the use of antimalarial drugs. Furthermore, constantly evolving life science industry drives the growth of the market in developing economies such as India, China, and Malaysia. As the constant development leads to surge in awareness related to the use of antimalarial drugs. In addition, it also leads to rise in aesthetic consciousness among people; which further fuels the growth of the market.
The Major Key Players Are:
Alvizia Healthcare Pvt. Ltd., Bayer AG, F. Hoffmann-La Roche Ltd, GlaxoSmithKline Plc, Ipca Laboratories Ltd., Merck & Co., Inc, Novartis AG, Pfizer Inc., Sun Pharmaceutical Industries Ltd. (Ranbaxy Laboratories), and Zydus Cadila.
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Key Findings of the Study:
The article discusses the growth and forecast of the antimalarial drugs market up to 2026.
Increased malaria prevalence and government awareness initiatives drive market growth.
Drug resistance and lack of healthcare awareness in developing regions are key challenges.
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