What Has Been the Growth of the Antiparasitic Drugs Market So Far?
The antiparasitic drugs market has seen considerable growth due to a variety of factors.
• There has been substantial growth in the antiparasitic drugs market size in the past few years. The market is predicted to expand from its current worth of $24.06 billion in 2024 to an estimated $25.75 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.0%.
The cause of growth in the previous period can be traced back to factors such as widespread parasitic infections, resistance to existing therapies, and international health initiatives.
What Is the Forecasted Market Size and Growth Rate for The Antiparasitic Drugs Market Size In The Coming Years?
The antiparasitic drugs market is expected to maintain its strong growth trajectory in upcoming years.
• The market for antiparasitic drugs is projected to witness significant growth in the upcoming years, increasing to $33.64 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%.
The predicted growth during this period is due to the rise in parasitic threats, the effects of climate change and vector-borne diseases, heightened focus on global health security, and improved access to healthcare. The major trends anticipated throughout this period include the progress in drug development, specialized treatments, combined therapies, collaborations between public and private sectors, telemedicine, and remote diagnosis.
What Factors Are Driving Growth In The Antiparasitic Drugs Market?
The expected rise in vector-borne diseases is predicted to spur the antiparasitic drugs market's expansion. These diseases, caused by pathogens transferred to humans or other animals via insect bites, such as mosquitoes, ticks, and flies, include malaria, dengue, and yellow fever. Antiparasitic drugs play a critical role in curtailing these diseases' spread by killing the harmful parasites. Certain antiparasitic medications, including chloroquine, doxycycline, and atovaquone-proguanil, are frequently used to treat malaria. In June 2024, as per the US-based government agency, Centers for Disease Control and Prevention, there were more than 9.7 million reported dengue cases across the Americas from January to June, more than twice the 4.6 million recorded cases in 2023. Puerto Rico in the United States reported 1,498 dengue cases, and 745 cases were found among U.S. travelers returning from impacted areas. Therefore, the surge in vector-borne diseases propels the antiparasitic drugs market's growth. High Prevalence Of Parasitic Infections Contributes to Growth of Antiparasitic Drug Market.
What Are The Main Segments Of The Global Antiparasitic Drugs Market?
The antiparasitic drugs market covered in this report is segmented –
1) By Product Type: Anthelmintics, Antiprotozoals, Ectoparasiticide, Other Products
2) By Treatment: Avermectins, Bezimidazoles, Pyrimidines, Organophosphates, Imidazolesthiazoles
3) By Route of Administration: Oral, Injectable, Topical
4) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Anthelmintics: Benzimidazoles, Ivermectin, Pyrantel Pamoate, Praziquantel
2) By Antiprotozoals: Metronidazole, Tinidazole, Nitazoxanide, Pentamidine
3) By Ectoparasiticides: Permethrin, Malathion, Lindane, Fipronil
4) By Other Products: Combination Antiparasitic Drugs, Novel Antiparasitic Agents
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How Are New Trends Impacting The Size Of The Antiparasitic Drugs Market?
Leading companies in the antiparasitic drugs industry are focusing on product innovation such as the development of chewable veterinary medication to promote ease of use and improve adherence in pets. These chewable veterinary medicines are flavor-filled, uncomplicated to administer tablets or treats formulated to provide treatment for animals. By making the treatment process more enjoyable and less stressful, they promote better adherence in pets. For example, in April 2024, C.H. Boehringer Sohn AG and Co. KG, a pharmaceutical firm based in Germany, introduced NexGard Spectra which offers complete parasite control. NexGard SPECTRA is a tasty, soft chew that delivers extensive internal and external parasite control for dogs, efficiently combating fleas, ticks, heartworms, and several types of intestinal worms in one monthly dosage. It shows rapid action, eliminating fleas within four hours of ingestion and showing over 99% efficacy against multiple parasites shortly thereafter.
Who Are the Key Players In The Antiparasitic Drugs Market?
Major companies operating in the antiparasitic drugs market are:
• Pfizer Inc.
• Johnson & Johnson
• Cadila Pharmaceuticals
• Merck & Co.Inc.
• Bayer AG
• Novartis AG
• Sanofi S.A.
• GlaxoSmithKline PLC
• Takeda Pharmaceutical Company Limited
• Boehringer Ingelheim group
• Zoetis Inc.
• Eisai Co. Ltd.
• Covetrus Inc.
• IDEXX Laboratories Inc.
• Dr. Reddy's Laboratories
• Intas Pharmaceuticals Ltd.
• Alkem Laboratories Ltd.
• Ceva Sante Animale S.A.
• Elanco Animal Health Incorporated
• Phibro Animal Health Corporation
• Norbrook Laboratories Ltd.
• Mankind Pharma
• Neogen Corporation
• Bimeda Inc.
• Indoco Remedies Ltd.
• ECO Animal Health
• Lincoln Pharmaceuticals Ltd.
• Laboratorios Calier.
What Is The Most Dominant Region In The Antiparasitic Drugs Market?
North America was the largest region in the antiparasitic drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in antiparasitic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
