PORTLAND, Ore., Aug. 24, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Antimalarial Drugs Market by Drug Class (Quinine, Chloroquine, Proguanil, Mefloquine, Pyrimethamine, and Others) and Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and E-Commerce & Other Distribution Channel): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report published by Allied Market Research, the global antimalarial drugs market was estimated at $711,360 thousand in 2018 and is expected to hit at $1,019,396 thousand by 2026, registering a CAGR of 4.6% from 2019 to 2026.
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Key determinants of the market-
Rise in prevalence of malaria, increase in healthcare expenditure worldwide and presence of large number of pipeline products propel the growth of the global antimalarial drugs market. Conversely, poor demand in underdeveloped countries curtails down the growth to some extent. Nevertheless, development in emerging economies is expected to create lucrative opportunities in the near future.
Covid-19 Scenarios-
- The demand and manufacturing of antimalarial drugs have been dramatically increased during the initial phase of Covid-19, as antimalarial drugs were believed to be effective in treating novel coronavirus.
- However, certain studies showed that the use of antimalarial drugs on some patients has increased the risks of hazardous disturbances.
The quinine segment dominated in 2018 -
Based on drug class, the quinine segment contributed to more than one-fifth of the global antimalarial drugs market revenue in 2018. In addition the segment is expected to maintain its dominance by the end of 2026. The same segment would also portray the fastest CAGR of 4.7% during the study period. This is attributed to the fact that quinine is widely used for malaria treatment.
The retail pharmacy segment to lead throughout 2026-
Based on distribution channel, the retail pharmacy segment held the major share in 2018, garnering more than three-fifths of the global antimalarial drugs market. This is owing to the strong presence of retail pharmacies around the globe and convenience offered by them. However, the e-commerce websites and online drug stores segment would grow at the fastest CAGR of 5.9% throughout the forecast period. This is due to rise in preference for online purchasing of drugs over the traditional methods, increase in awareness of online pharmacy, and rise in number of internet users.
LAMEA to rule the roost in terms of revenue, North America to grow at a significant pace-
Based on region, LAMEA accounted for 94% of the global antimalarial drugs market revenue in 2018, and is anticipated to maintain the lion's share till 2026. This is attributed to factors such as improvement in access to healthcare and rising healthcare expenditure in this region. Simultaneously, the Asia-Pacific region would manifest the fastest CAGR of 5.6% from 2019 to 2026. This is due to presence of a large potential patient base coupled with surge in awareness related to use of antimalarial drugs for treatment of malaria in Asia-Pacific. Moreover, the North America region is anticipated to grow at a CAGR of 3.5% from 2019 to 2026.
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Key players in the industry-
- Bayer AG
- F. Hoffmann-La Roche Ltd
- Zydus Cadila
- Sun Pharmaceutical Industries Ltd. (Ranbaxy Laboratories)
- GlaxoSmithKline Plc, Alvizia Healthcare Pvt. Ltd.
- Merck & Co., Inc
- Novartis AG
- Pfizer Inc.
- Ipca Laboratories Ltd
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