Antimalarial Drugs Market to See Record Break Revenue $1,019,396 Thousand and Registering at a 4.6% CAGR by 2026
26 Aug 2021
Increase in incidence of malaria, rise in healthcare expenditure worldwide, and presence of large number of pipeline products fuel the growth of the global antimalarial drugs market.
According to the report published by Allied Market Research, the global antimalarial drugs market was estimated at $711,360 thousand in 2018 and is expected to hit at $1,019,396 thousand by 2026, registering a CAGR of 4.6% from 2019 to 2026.
Rise in prevalence of malaria, increase in healthcare expenditure worldwide and presence of large number of pipeline products propel the growth of the global antimalarial drugs market. Conversely, poor demand in underdeveloped countries curtails down the growth to some extent. Nevertheless, development in emerging economies is expected to create lucrative opportunities in the near future.
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Covid-19 Scenarios-
However, certain studies showed that the use of antimalarial drugs on some patients has increased the risks of hazardous disturbances.
The demand and manufacturing of antimalarial drugs have been dramatically increased during the initial phase of Covid-19, as antimalarial drugs were believed to be effective in treating novel coronavirus.
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 is segmented on the basis of drug class, distribution channel, and region.
Based on drug class, the quinine segment contributed to more than one-fifth of the global antimalarial drugs market revenue in 2018. In addition the segment is expected to maintain its dominance by the end of 2026. The same segment would also portray the fastest CAGR of 4.7% during the study period. This is attributed to the fact that quinine is widely used for malaria treatment.
Based on distribution channel, the retail pharmacy segment held the major share in 2018, garnering more than three-fifths of the global antimalarial drugs market. This is owing to the strong presence of retail pharmacies around the globe and convenience offered by them. However, the e-commerce websites and online drug stores segment would grow at the fastest CAGR of 5.9% throughout the forecast period. This is due to rise in preference for online purchasing of drugs over the traditional methods, increase in awareness of online pharmacy, and rise in number of internet users.
Based on region, LAMEA accounted for 94% of the total market revenue in 2018, and is projected to maintain the lion’s share till 2026. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 5.6% from 2019 to 2026. The other provinces analyzed in the market report take in Europe and North America.
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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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