Antiparasitic Drugs Market Size, Share & Trends Analysis Report By Drug Type (Anthelmintics, Antiprotozoals, Others), By Route of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Antiparasitic Drugs Market Size & Trends

The global antiparasitic drugs market size was valued at USD 17.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.06% from 2024 to 2030. Parasitic infections, such as malaria, helminthiasis, and others, affect millions of people worldwide, particularly in tropical and subtropical regions. For instance, as per WHO, 2022, approximately 6-7 million individuals have been diagnosed with Chagas disease, a parasitic infection resulting from the Trypanosoma cruzi parasite. Thus, the high global prevalence of these infections fuels the demand for effective antiparasitic drugs.

Furthermore, increased international travel and migration have led to the global spread of parasitic diseases. Travelers and migrants can carry parasitic infections from endemic areas to non-endemic regions, posing a risk of local transmission. This mobility has heightened the need for antiparasitic drugs in regions previously unaffected by these diseases. Preventing and treating parasitic infections in these new areas are crucial to curbing outbreaks and managing public health risks. In addition, the pharmaceutical industry, research institutions, and government agencies are investing significantly in research and development (R&D) to discover and develop new antiparasitic drugs.For instance, in September 2023, Open Philanthropy granted Philip Low, a researcher at Purdue University, USD 1.3 million to conduct additional validation of a drug therapy for addressing drug-resistant strains of malaria.These investments aim to improve the safety, efficacy, and accessibility of treatments. Continued R&D efforts are crucial for addressing emerging challenges, such as drug resistance and the need for more effective, accessible antiparasitic medications, thereby surging the overall market growth.

A critical concern in the field of parasitology is the development of drug resistance in parasites. Over time, parasites can evolve mechanisms to resist the effects of commonly used antiparasitic drugs. This resistance reduces the efficacy of existing treatments, necessitating research and development efforts to discover new antiparasitic drugs that are effective against drug-resistant strains. The constant evolution of parasites makes the search for novel therapeutic agents a priority. Thus, emerging drug resistance contributes to overall market growth.

Drug Type Insights

On the basis of drug type, the market is segmented into anthelmintics, antiprotozoals, and others. The anthelmintics drug segment held the largest market share in 2023 due to the high prevalence of helminthic infections, such as soil-transmitted helminths and schistosomiasis, particularly in low- and middle-income countries. Anthelmintics are specifically designed to target and eliminate helminths, making them a critical component of global efforts to control and eradicate these infections.

On the other hand, antiprotozoals are expected to witness lucrative growth over the forecast perioddue to their versatility in addressing a wide range of parasitic infections caused by protozoa, including malaria, leishmaniasis, and toxoplasmosis, which collectively pose significant health threats globally.

Route Of Administration Insights

Based on mode of administration, the market is segmented into oral, injectables, and topical. The injectable segment dominated the market in 2023. Injectable formulations allow for the direct and efficient delivery of antiparasitic drugs into the bloodstream, ensuring their rapid onset of action.

Furthermore, the stability and bioavailability of antiparasitic drugs in injectable forms contribute to their prominence in this market, offering a trusted option for healthcare providers and researchers in the ongoing battle against parasitic infections. On the other hand, the topical mode of administration is expected to witness lucrative growth over the forecast period.

Distribution Channel Insights

Based on distribution channels, the market is segmented into hospital pharmacies, retail pharmacies and others. The hospital pharmacies segment dominated the market in 2023 as hospitals are the epicenter of treating severe cases of parasitic diseases.

Additionally, these facilities have the necessary infrastructure, medical expertise, and equipment to handle and administer injectable antiparasitic drugs effectively. On the other hand, retail pharmacies are expected to witness lucrative growth over the forecast period.

Regional Insights

North America dominated the market in 2023. The region's high healthcare infrastructure, well-established pharmaceutical industry, and rigorous regulatory framework contribute to extensive research, development, and availability of antiparasitic drugs. Moreover, strong consumer awareness drives the demand for innovative treatment options, positioning North America as a key player in the global antiparasitic drug market. On the other hand, Asia Pacific is expected to witness lucrative growth over the forecast period.

Key Companies & Market Share Insights

Key players operating in the market are GlaxoSmithKline plc, Merck KGaA, Novartis AG, Bayer, F. Hoffmann-La Roche Ltd, Zydus Group, Sanofi Mankind Pharma Cipla Ltd, and Ipca Laboratories Ltd. The market participants are constantly working towards new product development, M&A activities, and other strategic alliances to gain new market avenues. In May 2022, May & Baker Nigeria PLC introduced Artelum Combo, a unique medication designed to combat malaria parasites throughout the country. This medicine combines Arthemeter Lumefantrine and Paracetamol, offering comprehensive malaria treatment in a single, convenient package.