According to Custom Market Insights (CMI), the global Antimalarial Drugs Market size was estimated at USD 877.59 million in 2023 and is anticipated to reach around USD 1202.21 million by 2032, recording a CAGR of roughly 4.6% between 2023 and 2032.
The “World Malaria Report 2021” published by the World Health Organization (WHO) revealed that there were approximately 227 million cases and almost 603,000 deaths related to malaria in 2020. Such a high prevalence of malaria is expected to result in increased utilization of antimalarial treatments, thereby propelling the growth of the Antimalarial drugs market.
Browse the full “Anti-Malarial Drugs Market Size, Trends and Insights By Drug Class (Quinine, Chloroquine, Proguanil, Mefloquine, Pyrimethamine, Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, E-Commerce & Other Distribution Channel), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2030” report at https://www.custommarketinsights.com/report/antimalarial-drugs-market/
Antimalarial Drugs Market: Growth Drivers and Dynamics
The Antimalarial Drugs Market is driven by several factors, including:
High Prevalence of Malaria: The high incidence of malaria in developing countries is a major factor driving the growth of the Antimalarial Drugs Market. The World Health Organization (WHO) estimates that there were approximately 229 million cases of malaria in 2019, with over 90% of cases occurring in sub-Saharan Africa.
Rise in Awareness Programs: Government and non-government organizations are undertaking various awareness initiatives to educate people about the prevention and treatment of malaria. These initiatives are creating a positive impact on the market growth.
Surge in Research for New Antimalarial Drugs: The development of new and effective antimalarial drugs is a key focus area for pharmaceutical companies. Ongoing research activities are expected to drive the growth of the market.
Technological Advancements: Technological advancements in the production of antimalarial drugs have resulted in increased efficacy and safety of these drugs, which is expected to drive market growth.
Strategic Partnerships: The key players in the market are entering into strategic partnerships to expand their presence in emerging markets, which is expected to drive market growth.
Overall, the Antimalarial Drugs Market is expected to witness significant growth in the coming years, primarily due to the high prevalence of malaria and the increasing focus on the development of new and effective antimalarial drugs.
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Antimalarial Drugs Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the global antimalarial drugs market. On one hand, the demand for antimalarial drugs has increased due to the potential use of these drugs in the treatment of COVID-19 patients. On the other hand, disruptions in the supply chain and manufacturing processes have created challenges for the market.
One of the key factors driving the demand for antimalarial drugs during the COVID-19 pandemic is the possibility that they may have some efficacy in treating COVID-19. Early studies suggested that drugs like hydroxychloroquine and chloroquine could be effective against COVID-19, leading to increased demand for these drugs. However, subsequent studies have cast doubt on their effectiveness, and their use in COVID-19 treatment has become controversial.
In addition to the potential use in COVID-19 treatment, the demand for antimalarial drugs has also increased due to the disruption in the supply chain for other drugs. Some countries have reported shortages of other drugs used to treat malaria, such as artemisinin-based combination therapies (ACTs). This has led to increased demand for alternative anti-malarial drugs, including older drugs like chloroquine and quinine.
At the same time, the COVID-19 pandemic has created challenges for the antimalarial drugs market. Disruptions in the supply chain and manufacturing processes have made it difficult to ensure a steady supply of these drugs. Some countries have restricted exports of antimalarial drugs to ensure that they have an adequate domestic supply. Overall, the impact of COVID-19 on the anti-malarial drugs market has been mixed. While the pandemic has led to increased demand for these drugs, it has also created challenges for the supply chain and manufacturing processes. The long-term impact of COVID-19 on the anti-malarial drugs market remains to be seen and will depend on a variety of factors, including the ongoing pandemic and the development of new treatments for malaria and COVID-19.
List of the prominent players in the Antimalarial Drugs Market:
Hoffmann-La Roche Ltd
Pfizer Inc., Sanofi
Ipca Laboratories Ltd
Sun Pharmaceutical Industries Ltd.
Table of Contents: https://www.custommarketinsights.com/report/antimalarial-drugs-market/#table-of-contents
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