ANTIPARASITIC DRUGS MARKET ANALYSIS

Antiparasitic Drugs MarketSize and Trends

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).

Figure 1. Global Antiparasitic Drugs Market Share (%), By Product Type, 2023

Global Antiparasitic Drugs Market– Drivers

OIE (Office International des Epizooties) guide promotes responsible anthelmintic drug use

Guidance published by Office International des Epizooties in 2022 describes the dangers of resistance to deworming drugs and the ways people responsible for animal care can help preserve drug effectiveness.

 Figure 2. Global Antiparasitic Drugs Market Value (US$ Billion), By Region, 2023

Global Antiparasitic Drugs Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

Antiparasitic drugs were initially considered as a potential treatment option for the disease. While numerous papers have examined the effectiveness of different antiparasitic drugs in treating COVID-19 individually, there has been a lack of comprehensive studies encompassing these drugs as a whole. This particular study aims to provide a review of recommended antiparasitic drugs for COVID-19 treatment, discussing their functions, in vitro testing, and clinical results.

The Food and Drug Administration approved drug ivermectin inhibits the replication of SARS-CoV-2 in vitro, as ivermectin is antiparasitic drug. Ivermectin, an antiparasitic drug, has been suggested as a potential treatment for the current COVID-19 pandemic caused by SARS-CoV-2. This virus is an RNA virus closely related to the severe acute respiratory syndrome coronavirus (SARS-CoV). Previous studies on SARS-CoV have indicated that a protein called IMPα/β1 may play a role in the virus's ability to enter the nucleus of host cells by shutting down the movement of the viral nucleocapsid protein. This process has been linked to the impact on host cell division. Another protein, ORF6, found in SARS-CoV, has been shown to counteract the antiviral activity of a transcription factor called STAT1 by trapping IMPα/β1 on the membrane of the rough endoplasmic reticulum and Golgi apparatus. Based on these findings, it has been suggested that ivermectin's ability to inhibit nuclear transport may be effective against SARS-CoV-2.

Global Antiparasitic Drugs Market- Segmentation

Global antiparasitic drugs market report is segmented into by product type, by route of administration, by application, and by region.

Based on Product Type, the market is segmented into anthelmintic (Anticestodal Drugs, Antitrematodal Drugs, Antinematodal Drugs), antiprotozoal (Antimalarials Agents Antibabesial Agents, Antiamoebic Agents, Others (Trypanocidal Agents, Antileishmanial Agents, etc.)) agents 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.

Based on Route of Administration, the market is segmented into oral, injectable, and topical. Out of which, injectable segment is expected to dominate the market over the forecast period, as for most parasitic infections, tissue penetration of the antiparasitic drugs is essential for clinical success of the treatment.

Based on Region, global Antiparasitic Drugs market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. Out of which, North America is expected to dominate the market over the forecast period, Co-implement the U.S. President’s Malaria Initiative (PMI), led by USAID is initiated.

Among all segmentation, Anthelmintic Product Type segment has the highest potential key players are focusing on treating parasitic disease as well as adoption of growing market, in order to strengthen their market presence in the global Antiparasitic Drugs market. For instance, in March 2022, routine inspection FDA officials said in a related announcement that anthelmintic resistance is a problem throughout the world, and resistance can have far-ranging effects where grazing livestock are used to cultivate land and provide transportation in addition to their uses for milk, meat, and fiber.

FDA officials have campaigned for years for practices that preserve the effectiveness of antiparasitic drugs, enlisting veterinarians’ help to change practices on farms. Almost a decade ago, for example, FDA officials delivered presentations to AVMA leaders on the need to encourage use of management practices that preserve anthelmintic effectiveness. 

Global Antiparasitic Drugs Market- Cross Sectional Analysis

Among Applications, Human Health held a dominant position in North America region as well as worldwide over the forecast period due to increasing number of  treatment parasitic disease as well as adoption of growing market, in order to strengthen their market presence in the global Antiparasitic Drugs market. For instance, According to the World Health Organization (WHO), an estimated 6–7 Billion people are infected with T. cruzi worldwide, with about 10,000 deaths every year. In message to commemorate World Chagas Disease Day 2022, WHO’s Director-General, Dr Tedros Adhanom Ghebreyesus, reaffirmed the WHO’s commitment to working alongside  to defeat the disease. “WHO is committed to working side-by-side with all affected countries to increase their ability to prevent, find, report and provide care for every single case, to defeat Chagas disease.”

Global Antiparasitic Drugs Market- Key Trends

Drug Development Strategies for Malaria: With the Hope for New Antimalarial Drug Discovery

Drug Development Strategies for Malaria responsible for the market growth over the forecast period. For instance, in March 2023, a marked reduction in malaria incidence and mortality has been reported in recent years due to the introduction of act in antimalarial policy, the development of drug resistance against most of the antimalarial, especially artemisinin derivatives, is an alarming situation. The introduction of new drugs/combinations in the antimalarial arsenal is an immediate need. Based on resources, one or more of the strategies discussed above should be explored for the development of new chemotherapeutic interventions for malaria. Importantly, the use of genomics and omics-based methodologies has resulted in significant breakthroughs in the identification of novel targets in protozoan diseases.