Fascioliasis MarketSize and Trends

The global fascioliasis market is estimated to be valued at US$ 361.3 million in 2023 and is expected to exhibit a CAGR of 4.52% during the forecast period (2023-2030).

Global Fascioliasis Market – Driver

Ongoing research and development by key market players

Ongoing research and development by key market players is expected to drive the fascioliasis market over the forecast period. For instance, in July 2020, Romark, L.C., a pharmaceutical company, announced that they had started a clinical trial on Nitazoxanide to evaluate the safety and efficacy of nitazoxanide in the treatment of mild or moderate COVID-19.

Figure 2. Global Fascioliasis Market Value (US$ Million), by Region, 2023

Global Fascioliasis Market- Regional Analysis

Among regions, Africa is estimated to hold a dominant position in global fascioliasis market over the forecast period. Europe holds 31.1% of market share due to increasing prevalence of fascioliasis in the region. According to data published by Springer Journal, in April 2018, the prevalence of fascioliasis in Africa was 5.9% in the systematic review of 2018.

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

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

The COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global fascioliasis market. For instance, in November 2020, according to the data published in Frontiers Journal, during the COVID-19 pandemic, it was stated that albendazole is partially effective against fascioliasis hepatica when used in COVID-19 positive patient and impacted negatively in the treatment.