Global Antiparasitic Drugs market, By Product Type (Anthelmintics (Anticestodal Drugs, Antitrematodal Drugs, and Antinematodal Drugs) Antiprotozoal Agents (Antimalarials Agents Antibabesial Agents, Antiamoebic Agents, and Others (Trypanocidal Agents, Antileishmanial Agents, etc.)), Ectoparasiticide (Antiscabietic Agents and Pediculicides)), By Route Of Administration (Oral, Injectable, and Topical), By Application (Human Health, Animal Health, Crop Health) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) as highlighted in a new report published by Coherent Market Insights.
Global antiparasitic drugs market is estimated to be valued at US$ 23.40 Billion in 2023 and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).
PAHO (The Pan American Health Organization) and Unitaid launch collaboration to advance the elimination of mother-to-child transmission of Chagas disease. June 30, 2022 Geneva/Washington DC– The Pan American Health Organization (PAHO) and Unitaid, launched a five-year, US$ 2.6 million partnership to scale-up regional and national efforts to eliminate mother-to-child transmission of Chagas disease.
Global Antiparasitic Drugs market– Impact of Coronavirus (COVID-19) Pandemic
WHO advises that ivermectin only be used to treat COVID-19 within clinical trials. For instance, in March 2021 WHO announced Ivermectin, an essential medicine listed by the World Health Organization (WHO), is a broad-spectrum anti-parasitic agent. It is utilized in the treatment of various parasitic diseases, including onchocerciasis (river blindness), strongyloidiasis, and infections caused by soil-transmitted helminths. Additionally, it is employed for the management of scabies.
In response to the growing global attention on the potential use of ivermectin as a treatment for COVID-19, a guideline development group has been assembled. This group comprises independent, internationally recognized experts, including specialists in diverse clinical fields, an ethicist, and patient-partners. Their aim is to review the available evidence and provide guidance on the use of ivermectin in the context of COVID-19. The group reviewed pooled data from 16 randomized controlled trials (total enrolled 2407), including both inpatients and outpatients with COVID-19. They determined that the evidence on whether ivermectin reduces mortality, need for mechanical ventilation, and need for hospital admission and time to clinical improvement in COVID-19 patients is of “very low certainty”, due to the small sizes and methodological limitations of available trial data, including small number of events.
The current guidelines established by the panel did not encompass the examination of the usage of ivermectin for preventing COVID-19. This aspect falls outside the scope of their guidelines and was not specifically considered in its evaluation.
Global Antiparasitic Drugs market: Key Developments
Tackling emerging antimalarial drug resistance in Africa, In November 2022, the new World Health Organization (WHO) strategy builds on lessons learned from past global plans and complements existing strategies, including broader efforts to respond to antimicrobial resistance. It aims to minimize the threat and impact of antimalarial drug resistance in Africa through 4 pillars:
Strengthen surveillance of antimalarial drug efficacy and resistance; optimize and better regulate the use of diagnostics and therapeutics to limit drug pressure through pre-emptive measures; react to resistance by limiting the spread of antimalarial drug-resistant parasites; stimulate research and innovation to better leverage existing tools and to develop new tools against antimalarial drug resistance.
Browse 32 Market Data Tables and 36 Figures spread through 212 Pages and in-depth TOC on “Global Antiparasitic Drugs market, By Product Type (Anthelmintics (Anticestodal Drugs, Antitrematodal Drugs, Antinematodal Drugs) Antiprotozoal Agents (Antimalarials Agents Antibabesial Agents, Antiamoebic Agents, and Others (Trypanocidal Agents, Antileishmanial Agents, etc.)), Ectoparasiticide (Antiscabietic Agents, Pediculicides)), By Route of Administration (Oral, Injectable, Topical), By Application (Human Health, Animal Health, Crop Health) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
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Key Takeaways of the Global Antiparasitic Drugs market:
- Global antiparasitic drugs market is expected to exhibit a CAGR of 5.6% over the forecast period, owing to rising launches of products. For instance, in July 2020, Boehringer Ingelheim, a global human pharmaceutical and animal healthcare firm, announced the launch of two new animal healthcare products for the Indian market. The two products, NexGard and Broadline provides parasite treatment for dogs and cats, respectively.
- Among Product type, the market is segmented into Anthelmintic (Anticestodal Drugs, Antitrematodal Drugs, Antinematodal Drugs), Others (Trypanocidal Agents, Antileishmanial Agents, etc.) and Ectoparasiticide (Antiscabietic Agents, Pediculicides). Out of which, Anthelmintic segment is expected to hold a dominant position in the global Antiparasitic Drugs market during the forecast period as OIE guide promotes responsible anthelmintic drug use.
- Among region, global Antiparasitic Drugs market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. During the forecast period, the North America region is anticipated to hold a dominant position in the global antiparasitic drugs market. This can be attributed to various factors, including the co-implementation of the U.S. President's Malaria Initiative (PMI) led by USAID.
- Major players operating in the global antiparasitic drugs market include Merck KGaA, GlaxoSmithKline plc, Dr. Reddy’s Laboratories Ltd, Cipla Limited, Cadila Pharmaceuticals, Watson International Limited, Vivaldis, Glenmark Pharmaceuticals Limited, Viatris Inc., Novartis AG, AdvaCare Pharma, Lupin, Sun Pharmaceutical Industries Ltd., and Aurobindo Pharma