Anthelmintic Drugs Market: Increase in Prevalence of Helminthic Infections to Drive Global Market
Anthelmintic Drugs Market: Introduction
According to the report, the global anthelmintic drugs market was valued at ~US$ 2 Bn in 2019 and is projected to expand at a moderate CAGR during the forecast period. Anthelmintic drugs are the group of the antiparasite drugs recommended for the treatment of the helminths in the body. Anthelmintic drugs are used to remove the parasitic forms, such as roundworm, flatworm, whipworm, and pinworm from animals and humans. Apart from infecting humans, the helminthic worms widely impact the livestock, companion animals, and other animals, which is likely to drive the anthelmintic drugs market.
The global anthelmintic drugs market is driven by rise in prevalence of human and animal helminthic infections across globe, availability of various generics medicines, government establishing guidelines for eradication of worm infections, efforts on increasing awareness about helminthic infections, and rising incidence of ascariasis across subtropical region, including countries in Africa and Asia. These factors are likely to propel the anthelmintic drugs market across the globe. As per the WHO estimation in 2019, around 1.5 to 2 billion people were suffering from soil-transmitted helminth infections.
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Europe dominated the global anthelmintic drugs market in 2019, followed by Asia Pacific and the trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to the presence of key veterinary as well as human anthelmintic drugs manufacturers, large veterinary business in the countries in Europe, and high awareness about veterinary animal health.
Increase in Prevalence of Helminthic Infections to Drive Global Market
The growing incidence of helminthic infections among animals and humans is anticipated to propel the demand for anthelmintic drugs across the globe. According to the WHO, 1.5 billion people were suffering from soil-transmitted helminth infections in March 2020, which accounted for 24% of the world’s population. Hookworm, ascaris, and whipworm accounted for the largest soil-transmitted helminths burden across the globe. According to CDC estimates, in 2019, 807 million to 1,221 million people across the world were infected by ascaris, and around 604 million to 795 million are likely to suffer from whipworm globally. In the U.S., according to the CDC, pinworm is the most common helminth infection, with prevalence of 0.2% to 20% in children.
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Globally, 200 million people are affected by enterobius vermicularis (pinworms), accounting for 30% of the cases globally. Children in the age group of 5 to 10 years are most susceptible to this infection. Furthermore, as per the CDC, 2,800 cases of angiostrongylus cantonensis across 30 countries have been reported in 2018. According to a research conducted in 2019, prevalence of roundworms in dogs ranged from 1.8% to 5.0%, hookworm infection was estimated to be around 2.5% to 4.5%, and whipworm infection was reported to be around 0.8% to 1.2%.
Anthelmintic Drugs Market: Prominent Regions
In terms of region, the global anthelmintic drugs market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe dominated the global anthelmintic drugs market in 2019, followed by Asia Pacific. The number of companion animals in the region is increasing at a higher rate, as compared to that of livestock animals, due to rise in pet ownership and the presence of key players offering anthelmintic drugs. This, in turn, is estimated to boost the market in the region. The anthelmintic drugs market in Asia Pacific is likely to expand at a highest CAGR from 2020 to 2030. The growth of the market in the region can be attributed to a large veterinary industry in China, Australia, and New Zealand; rise in pet care expenditure; increase in demand for animal care; and surge in veterinary hospitals and clinics in China, India, South Korea, and Hong Kong. As per research, prevalence of hookworm infections in the population was estimated to be 19% in July 2018 in countries in Asia Pacific.
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Launching and Approval of Anthelmintic Products by Key Players to Drive Global Market
The global anthelmintic drugs market is fragmented in terms of the number of players. The market is dominated by key players with strong geographic presence. Key players operating in the global anthelmintic drugs market includes Novartis AG, Zoetis, Inc., Amneal Pharmaceuticals Inc., Cipla Inc., Janssen Pharmaceuticals, Inc. (Johnson & Johnson), Sun Pharmaceutical Industries Ltd, GlaxoSmithKline plc, Bayer AG, Merck & Co. Inc.(Intervet Inc.), and Boehringer Ingelheim International GmbH. In February 2020, Zoetis, Inc. received approval for Simparica Trio drug, a combination used as a prevention for heartworm disease, roundworms, ricks, hookworms, and fleas in dogs. In February 2019, Novartis AG received FDA approval for Egaten drug for the treatment of the fascioliasis, also known as liver fluke infestation, in patients with age of 6 years or older.
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