Anti-parasitic Drugs Market to Undertake Strapping Growth During 2017-2025
Anti-parasitic drugs are medications that are used for the treatment of parasitic diseases caused by parasites such as fungi and protozoa. These drugs destroy or inhibit the growth of parasitic agents by targeting them. In a particular class, these medications are effective to a limited number of parasites. Parasitic infections can be severe, moderate, or mild. Ascariasis is one of the prevalent parasitic diseases. Other common infections are hookworm disease, trichomoniasis, and toxoplasmosis. The parasitic infections can result in nutritional deficiencies, fetal or neonatal harm, cutaneous nodules, and skin eruptions. Moreover, the infections may cause major damages to the central nervous system, lungs, eyes, heart, and liver. Anti-parasitic medications can be administered orally or intravenously, and these are one of the antimicrobial agents that include antibiotics that target bacteria. The World Health Organization (WHO) has suggested for public beneficial for the treatment of parasitic worm infections. Almost all of the common parasitic worm infections in the human body can be cured with one of five anthelmintics currently in use: mebendazole, albendazole, diethylcarbamazine, praziquantel, and ivermectin. The purpose of the anthelmintic treatment is to moderate the intensity of the infection beneath the level of clinical significance.
Factors such as rising prevalence of parasitic infections, increasing novel drug treatment, affordability of drugs, convenience of direct purchase, high adoption and acceptance in developing markets, and innovations and developments of drugs are driving the growth of the global anti-parasitic drugs market. However, certain factors such as stiff competition among existing players, high possibilities of substance abuse and addiction, complications and severity involved in taking wrong medications due to misdiagnosis or incorrect self-diagnosis, and lack of awareness among the rural population in developing and underdeveloped economies could restraint the global market growth during the forecast period.
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The global anti-parasitic drugs market is classified on the basis of drug, disease indication, distribution channel, and geography. In terms of drug, the market is classified into anthelmintics, scabicides and pediculicides, antiprotozoals, and others. The anthelmintics sub-segment is further segmented into benzimidazole, ivermectin, and pyrantel. The scabicides and pediculicides sub-segment is further classified into lindane, benzyl benzoate, and others. The antiprotozoals sub-segment is classified into chloroquine, pyrimethamine, and others. In terms of disease indication, the anti-parasitic drugs market is segmented into giardiasis, trichuriasis, filariasis, neurocysticercosis, hydatid disease, pinworm disease, cysticercosis, ascariasis, and others. The key distribution channels of the anti-parasitic drugs market include hospital pharmacies, retail pharmacies, online pharmacies, mail order pharmacies, and others.
Geographically, the anti-parasitic drugs market has been segmented into five major regions: North America (U.S. and Canada), Europe (Germany, France, the U.K., etc.), Asia Pacific (Australia, China, Japan, India, etc.), Latin America (Brazil, Mexico, etc.), and Middle East & Africa (GCC Countries, South Africa, etc.). North America is the leading market for anti-parasitic drugs in terms of revenue, followed by Europe. The U.S. holds the largest share of the North America market. Asia Pacific and Latin America are emerging markets which are expected to witness significant growth rates during the forecast period. High growth rates in these regions are attributable to the increasing incidence of parasitic infections, rising health care industries, and growing government investment to develop health care infrastructure. The anti-parasitic drugs market in countries such as China, India, and Brazil is projected to expand at a high growth rate during the forecast period due to increase in awareness among the population about parasitic infections and their treatment.
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Major players operating in the global market for anti-parasitic drugs include Arbor Pharmaceuticals Inc., Quepharma, Merck & Co., Inc., Cipla, Inc., Ipca Laboratories Ltd., Sun Pharmaceutical Industries Ltd., Guilin Pharmaceutical (Shanghai) Co., Ltd., Novartis AG, Mylan Labs, Ajanta Pharma, Sanofi, and AstraZeneca plc., Pfizer Inc., Bayer AG, GlaxoSmithKline, Alkem Laboratories Limited, Mankind Pharma, Indoco Remedies Ltd., Lincoln Pharmaceuticals Ltd., and Mallinckrodt Pharmaceuticals.