The anti-malarial drugs market is estimated to be valued at US$ 989.7 Mn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anti-malarial drugs are medications used to prevent or treat malaria. The disease is caused by Plasmodium parasites that are transmitted to humans through the bites of infected Anopheles mosquitoes. The two main classes of anti-malarial drugs are artemisinin-based combination therapies (ACTs) and other non-artemisinin therapies. ACTs are currently recommended by the World Health Organization as the first-line drugs for treatment of P. falciparum malaria. These drugs have proven highly effective against drug-resistant strains of malaria. Some commonly used anti-malarial drugs include chloroquine, atovaquone-proguanil, mefloquine, doxycycline, and primaquine.
Market Dynamics:
The growth of the anti-malarial drugs market is majorly driven by the increasing prevalence of malaria across the globe, especially in developing countries of Africa, Asia Pacific and Latin America. According to WHO, there were about 241 million malaria cases and 627,000 malaria deaths worldwide in 2020. The global burden is primarily shoulder by sub-Saharan Africa region, which accounted for about 95% of all malaria cases and 96% of all malaria deaths in 2020. Another driver fuelling the market growth is rising investment by public and private organizations towards malaria elimination programs. The Roll Back Malaria initiative launched by WHO is one such program focused on R&D of novel anti-malarial drugs with long shelf life and single dose treatment. Furthermore, government initiatives aimed at increasing awareness about malaria preventive measures like insecticide-treated mosquito nets are also boosting the demand for drugs. However, factors like rising drug resistance and lack of investment in malaria endemic areas are expected to hinder the market growth over the forecast period.
SWOT Analysis
Strength: The global anti-malarial drugs market has strong presence of key players with strong pipeline of drugs in clinical trials. The rising government support for research and development of new anti-malarial drugs is also a strength. Widespread awareness programs regarding malaria prevention and treatment boost the market growth.
Weakness: High costs associated with drug development and clinical trials pose major challenges. Secondly, lack of proper healthcare infrastructure and sanitation facilities in developing nations hamper market growth.
Opportunity: Increasing incidence of malaria worldwide due to rapid urbanization and changing climatic conditions present lucrative opportunities. Secondly, innovations in drug delivery systems will further expand the market reach.
Threats: Strong regulatory framework delays drug approvals. Secondly, emerging alternative treatment options may threaten market growth.
Key Takeaways
The global anti-malarial drugs market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing disease burden of malaria worldwide. According to WHO, there were about 241 million cases of malaria in 2020. Sub-Saharan Africa carries the highest malaria disease burden, with about 95% of all malaria cases and 96% deaths in 2020.
Regional analysis: Africa dominates the global anti-malarial drugs market and is expected to grow at a highest CAGR during the forecast period. According to study, about 95% of global malaria cases and deaths occur in Africa. Countries like Democratic Republic of Congo, Nigeria, Tanzania, Burkina Faso, and Mozambique report high number of malaria cases annually. Asia Pacific region also registers high malaria cases majorly attributable to high burden countries like India.
Key players: Key players operating in the global anti-malarial drugs market include Ipca Laboratories Ltd., Zydus Group, Merck KGaA, Pfizer Inc., GSK plc., Cipla Inc., Sun Pharmaceutical Industries Ltd., Novartis AG, Alvizia Health Care, Bayer AG, and F. Hoffmann-La Roche Ltd. Major players focus on strategic collaborations and new drug launches to strengthen their market position.
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