Anthelminthic Market is Growing at a Reliable CAGR of 5.3% During Forecast to 2023

 

Market Overview:

Antihelminthics are a group of antiparasitic drugs that are prescribed to kill parasites (helminthes) in common parasitic infestations such as fasciolasis, filariasis, angiostrongylosis, and others. The global antihelminthics market is likely to capture a CAGR of 5.3% and reach high growth figures over the forecast period of 2017-2023, projects Market Research Future (MRFR) in an exclusive study.

 

Diseases such as schistosomiasis, ascariasis, whipworm infection, and other intestinal infections have become prevalent globally which induces high demand for antihelminthics drugs. As per the reports of the World Health Organization (WHO), over 1.5 Billion people were found tobe infected with soil-transmitted helminthes in 2014 on a global scale. Also, a recent report by WHO suggests that more than 880 million children require treatment for parasitic diseases.

 

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Parasitic diseases such as schistosomiasis, whipworm infection, ascariasis, and other intestinal infections are most prevalent in East Asia, sub-Saharan Africa, and India. Parasitic diseases occur in unhygienic conditions in the developing countries where a majority of the population suffering from such diseases induce high demand for antihelminthics and boost the growth of the global antihelminthics market.

 

In the last few years, extensive research programs have been initiated which has resulted in thedevelopment and modification of existing drugs. The pharmaceuticalindustry has been able to produce a wide spectrum of highly effective antihelminthics which has been a plus for the growth of the global antihelminthics market.

 

Competitive Landscape

The key players in the global antihelminthics market include Sanofi (US),Merck & Co., Inc. (US),GlaxoSmithKline Plc. (US),AstraZeneca (UK),Bayer AG (Germany),Sanofi (France),ALLERGAN (Ireland),Mentis Pharma Ltd. (India),Abbott (US),ZEISS International (Germany),AstellasPharma Inc. (Japan),Johnson & Johnson Services, Inc. (US),Novartis AG (Switzerland), and Pfizer Inc. (US).

 

Segmentation

·         The global Antihelminthics Market has been segmented based on type, application, and end user.

 

·         By type, the global antihelminthics market has been segmented into benzimidazoles, abamectin, salicylanilides, praziquantel,and others.

 

·         The Benzimidazoles segment has been further segmented into benzimidazoles, albendazole, mebendazole, thiabendazole, and others. The benzimidazoles segment accounts for the largest share of the market owing to their long history and efficiency. Additionally, they are easily availed in the market which drives the segment growth further.

 

·         The Salicylanilides segment has been further segmented into niclosamide, oxyclozanide, rafoxanide, and others.

 

·         By application, the global antihelminthics market has been segmented into schistosomiasis, fasciolasis, filariasis, angiostrongylosis, ascariasis, giardiasis,and others.

 

·         By end user, the global antihelminthics market has been segmented into hospitals, clinics, and others.

 

Regional Analysis

By region, the global antihelminthics market has been segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). The Americas dominate the global antihelminthics market. High prevalence of parasitic diseases and presence of a vast base of geriatric population boosts the growth of the antihelminthics market in the Americas. Government support in the form of R&D funds and developed pharmaceutical industry too augur the growth of the market.

 

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Europe follows the Americas closely and accounts for the second largest share of the market. Extensive R&D efforts and increasing geriatric population drive the market in Europe.

 

APAC is likely to be the fastest growing market for antihelminthics. The developing economies in the region present a myriad of opportunities for the growth of the antihelminthics market. Surging prevalence of parasitic and digestive disorders in theregion, rapid economic growth and expanding healthcare sector stimulates the growth of the antihelminthics market in APAC.

 

The MEA market accounts for the least share of the market owing to limited availability of medical facilities and poor economic conditions in Africa. The majority share of the MEA market is held by the Middle East since it has a well-developed healthcare sector and spends considerably on healthcare facilities.