Antiparasitic Drugs Global Market Report 2024

The global antiparasitic drugs market has grown strongly in recent years. It will grow from $22.47 billion in 2023 to $24.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to prevalence of parasitic infections, resistance to existing treatments, global health initiatives,.

The global antiparasitic drugs market 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.

The escalating incidence of vector-borne diseases is set to be a catalyst for the growth of the antiparasitic drugs market in the coming years. Vector-borne diseases, characterized by their transmission to humans and other animals through arthropod bites, primarily by insects such as mosquitoes, ticks, and flies, are on the rise. Notable examples of vector-borne diseases encompass malaria, dengue, and yellow fever. Antiparasitic drugs play a pivotal role in curbing the proliferation of these diseases by selectively targeting and eradicating the responsible parasites. Several antiparasitic medications, including chloroquine, doxycycline, and atovaquone-proguanil, are widely used in the treatment of malaria. For instance, in August 2023, data from the Pan American Health Organization, a US-based specialized agency of the United Nations, reported a substantial increase in dengue cases in the United States during the year. The number of new infections surpassed 3 million, surpassing the figures recorded in 2019, a year that witnessed the highest incidence in the region, with 3.1 million cases, including 28,203 severe cases and 1,823 fatalities.Additionally, in December 2022, according to the World Malaria Report 2022 published by the World Health Organization, a Switzerland-based intergovernmental organization, a total of 247 million malaria cases were documented globally in 2021, slightly higher than the 245 million cases reported in 2020. Consequently, the growing occurrence of vector-borne diseases is a driving force behind the expansion of the antiparasitic drugs market.

The substantial prevalence of parasitic infections is poised to propel the expansion of the antiparasitic drug market. Parasitic infections are caused by microscopic parasites or larger organisms that inhabit and flourish at the expense of their host, often leading to harm or disease. Antiparasitic drugs play a vital role in the prevention and management of these parasitic infections, contributing to enhanced health outcomes and a reduction in the burden of these diseases on affected individuals and communities. For instance, in August 2021, data from the National Library of Medicine, a medical library operated by the US federal government, revealed that among 136 participants in a study, 46.3% of them were found to have intestinal parasites. The most commonly encountered parasite was Entamoeba histolytica, affecting 33.3% (21 out of 63), while the least prevalent was Giardia lamblia, impacting 11.1% (7 out of 63). Hence, the high prevalence of parasitic infections is a driving factor behind the growth of the antiparasitic drug market.

The increasing resistance to antimalarial drug regimens poses a significant challenge and potential restraint on the market's growth in the foreseeable future. Antimalarial medications are facing higher resistance rates compared to other antiparasitic drugs, which may impact the development of combination treatments that are both more effective and more costly. These factors could adversely affect market expansion by limiting access to antiparasitic drugs and increasing the overall cost of patient treatment. For instance, in January 2021, as reported by Biomed Central Ltd., a for-profit scientific open access publisher, a study involving the genotyping of 18,706 SNPs related to antimalarial medication resistance indicators, out of 47,382 samples, revealed a pooled prevalence of 35.4% (95% CI 29.1-42.3%). Hence, the mounting resistance to antimalarial drug regimens is impeding the growth of the antiparasitic drugs market.

Prominent companies in the antiparasitic drugs market are committed to advancing innovative products and solutions to maintain their foothold in the industry. Notably, in August 2021, ParaPRO LLC, a pharmaceutical company based in the United States, introduced Natroba Topical Suspension, which achieved a remarkable milestone by becoming the first antiparasitic product (new drug application) to gain approval from the U.S. Food and Drug Administration (FDA) for the treatment of scabies. Natroba's active ingredient, Spinosad, exerts its action on the nervous system of lice, inducing paralysis and ultimately leading to their demise. This treatment is administered topically to the scalp and hair and may often require only a single application. What sets Natroba apart is that Spinosad, its active component, is precisely delivered to the stratum corneum, the outermost layer of the epidermis, allowing it to target mites at the site of infestation without deep penetration into the dermis or entering the systemic circulation.

In June 2022, Orion Corporation, a pharmaceutical company headquartered in Finland, completed the acquisition of Inovet BV's animal health division for $141 million (€130 million). This strategic acquisition is anticipated to bolster Orion Corporation's presence in Western Europe and export markets, and it will also grant them access to a dedicated production facility specializing in the manufacturing of veterinary medicines. Inovet BV, based in Belgium, is a renowned veterinary pharmaceutical company known for its wide range of products, including antiparasitic treatments, antibiotics, and vaccines.

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.

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 report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the antiparasitic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary product categories within antiparasitic drugs include anthelmintics, antiprotozoals, ectoparasiticides, and other related treatments. Anthelmintics, for instance, are a class of drugs tailored to address infections caused by parasitic worms. They operate by either eradicating the parasites or stunting their growth and reproductive capabilities. A diverse range of treatments falls under this category, including avermectins, benzimidazoles, pyrimidines, organophosphates, and imidazole thiazoles. These treatments can be administered through various means, such as orally, through injections, or topically, and are employed across a spectrum of end-users, including hospitals, homecare settings, specialty clinics, and others.

This report provides antiparasitic drugs market statistics, including antiparasitic drugs industry global market size, regional shares, competitors with an antiparasitic drugs market share, detailed antiparasitic drugs market segments, market trends and opportunities and any further data you may need to thrive in the antiparasitic drugs industry. This antiparasitic drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The antiparasitic drugs market consists of sales of antimalarial drugs, antiamoebic drugs, anti-trematode drugs and veterinary products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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