Antihelminthics Market Segmentations:
On the basis of applications, the market is segmented into schistosomiasis, fasciolasis, filariasis, angiostrongylosis, ascariasis, giardiasis and others. On the basis of end user, the market is segmented into hospitals, clinics, and others. On the basis types, benzimidazoles holds the major share in the market due to their long history and efficiency. A number of different types of benzimidazoles are available in the market, however, certain side effects are observed in the patient, which may slow the growth of the benzimidazoles market.
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Antihelminthics Market – Overview
The Global Antihelminthics Market is expected to grow at a CAGR of ~5.3 % during the forecast period 2017-2023. Antihelminthics are a group of antiparasitic drugs that kill and expel parasitic worms & other internal parasites from the body without causing any significant damage to the patient. These drugs are used for the treatment of various diseases such as fasciolasis, filariasis, angiostrongylosis, and many others. Increasing prevalence of diseases such as schistosomiasis, whipworm infection, ascariasis, and other intestinal infections have boosted the growth of the antihelminthic drugs market. According to the World Health Organization (WHO) in 2014, over 1.5 billion people were infected with soil-transmitted helminthes worldwide. Additionally, a latest report published by the WHO says that more than 880 million children are in the need of treatment for these parasitic diseases.
A number of different types of antiparasitic drugs are available in the market for the treatment of the different parasitic diseases. According to a research, ascariasis remains the most common intestinal parasite with 807–1221 million infections globally. It is the most prevalent diseases in East Asia, sub-Saharan Africa, and India. Majority of the patients are in developing region due to unhygienic condition. Over 65% of the patient population suffering from parasitic diseases is present in East Asia, sub-Saharan Africa, and India. Moreover, increasing geriatric population, rapidly developing healthcare sector, and increasing demand for the treatment of the parasitic diseases have fuelled the market growth. On the other hand, the side effects associated with the treatment may slow the market growth over the review period.
Antihelminthics Market Key Players:
Some of key the players in the market are Abbott (US), Novartis AG (Switzerland), ZEISS International (Germany), Johnson & Johnson Services, Inc. (US), Sanofi (US), Merck & Co., Inc. (US), GlaxoSmithKline plc. (US), Astellas Pharma Inc. (Japan), Bayer AG (Germany), Mentis Pharma Ltd. (India), Pfizer Inc. (US), Sanofi (France), ALLERGAN (Ireland), and AstraZeneca (UK)
Antihelminthics Market Regional Analysis:
The Americas dominate the global antihelminthics market owing to the increasing prevalence of people with parasitic diseases and presence of huge geriatric population. Additionally, well-developed technology, huge number of patients suffering from autoimmune diseases, and strong government support for research & development will fuel the market growth.
Europe is the second leading market across the globe, which is followed by Asia Pacific. Huge geriatric population, availability of funds for research, and government support for research & development will drive the market.
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Asia Pacific is the fastest growing antihelminthics market due to the presence of huge patient pool, rapidly growing economy, increasing prevalence of digestive diseases, and presence of huge geriatric population. Some of the regions in the Asia Pacific is still lack the proper hygiene which has led to the growth of the market in this region.
On the other hand, the Middle East & Africa holds the least share of the market owing to limited availability of medical facilities, less availability of funds, and poor political conditions in Africa. Majority of the market of this region is held by Middle East due to a well-developed healthcare sector and huge healthcare expenditure.
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