Antimalarial Drugs Market size is anticipated to grow at a notable rate during the forecast period of 2023 to 2032. The rapid increase in incidences of malaria has prompted organizations to develop effective medical formulations to tackle the disease’s symptoms. According to the WHO, an estimated 619,000 deaths from malaria were recorded globally in 2021. This will positively impact the demand for antimalarial medicines.
Rising government initiatives focused on the development of advanced medicines to tackle chronic diseases, such as malaria might fuel the market expansion. Regions, including Africa and the Asia Pacific are witnessing an alarming increase in the number of people being diagnosed with the disease. Public health agencies, such as the WHO are working together with the regional governments to amplify their efforts toward reducing the mortality rate from the disease. For instance, in November 2022, the WHO launched a new strategy to address the issue of antimalarial drug resistance in Africa, further enhancing the production of medications with improved capabilities.
Moreover, there is a strong presence of companies that specialize in the production of hydroxychloroquine, which will accelerate market development in the future. Reputed drugmakers, such as Zydus Cadila and Ipca Laboratories have the capacity to manufacture 1.5 million tablets per day.
Based on drug type, antimalarial drugs market size from the hydroxychloroquine segment is predicted to register a notable CAGR over 2023-2032. This drug has often shown a high success rate in the treatment of malaria, thereby creating several business opportunities for drugmakers. Since the medicine has good tolerability, high efficiency, and is cost-effective, more patients are opting for hydroxychloroquine to treat malaria.
By drug class, global antimalarial drugs industry share from the aryl aminoalcohol compounds segment might grow at a considerable pace by 2032. The number of people suffering from malaria across the world is increasing every year. About 241 million malaria cases were registered across the globe in 2022, with the WHO Africa region continuing to account for a large share of the disease burden. This will encourage people to take antimalarial drugs to prevent the disease infection.
With regards to route of administration, antimalarial drugs market value from the oral segment is expected to increase at a significant rate by 2032. There are many advantages associated with this route of administration, such as better patient compliance, safety, easy ingestion, pain avoidance, and great versatility in accommodating different types of medicines. Also, since hydroxychloroquine comes only in tablet form, more patients will opt for oral administration throughout the forecast timeframe.
Based on malaria type, antimalarial drugs industry revenue from the Plasmodium falciparum segment is predicted to increase steadily by 2032. There is a large population pool that is heavily exposed to mosquito bites, which raises their risk of getting infected by Plasmodium falciparum. People with low immune response and their lack of access to primary healthcare facilities are some of the factors driving the segmental growth during the forecast period.
By application, the treatment segment is expected to capture a sizeable share of antimalarial drugs market by 2032. Malaria treatments depend on many factors including the species of malaria parasite, intensity of the disease, and the country/region in which the patient contracted the infection. Increasing global mortality rate from malaria might require people to receive proper medication to treat the disease effectively, thereby propelling the market growth.
Based on distribution channel, antimalarial drugs market size from hospital pharmacies is estimated to witness a substantial CAGR through 2032. These pharmacies provide care teams with the opportunity to come together to improve patient outcomes. They also avoid errors while prescribing medications, which often occur when patients switch between retail pharmacies after discharge. These benefits will encourage patients to buy medicines from hospital pharmacies.
U.S. antimalarial drugs market share is anticipated to showcase appreciable growth over the analysis timeframe. The country is witnessing a strong rise in the number of people falling prey to malaria. According to the U.S. Centers for Disease Control and Prevention (CDC), the U.S. records around 2,000 cases of malaria each year. The rising import of hydroxychloroquine tablets in the country will also contribute to the development of antimalarial drugs industry.
Cipla, Ipca Laboratories, Mylan, Zydus Cadila, GlaxoSmithKline, Strides Pharma Science Limited, Teva Pharmaceutical, F. Hoffmann-La Roche Ltd, Novartis, Lincoln Pharmaceuticals, Bayer, Alliance Pharma, and Glenmark Pharmaceuticals, among others, are some of the leading drugmakers operating in global market. These firms are focusing on implementing various major strategies, such as partnerships, new product launches, acquisitions, and production capacity expansions to strengthen their competitive edge