Antihelminthics Market Forecasted for Stunning Expansion at 5.3% of CAGR by 2023 – iCrowdNewswire
 

Feb 13, 2018 12:19 PM ET

Antihelminthics Market Forecasted for Stunning Expansion at 5.3% of CAGR by 2023

iCrowdNewswire - Feb 13, 2018

The Global Antihelminthics Market is expected to grow at a CAGR of ~ 5.3% during the forecast period 2017-2023.

Antihelminthics are endorsed to murder parasites (helminthes). Normal parasitic invasions incorporate amebiasis, intestinal sickness, and giardiasis, hookworm, pinworm, threadworm, whipworm and tapeworm pervasions. The medications work either by pulverizing the worms on contact or by deadening them, or by changing the porousness of their plasma layers. As per World Health Organization (2014), more than 1.5 billion individuals are tainted with soil-transmitted helminths around the world.

As indicated by the most recent report distributed by WHO, more than 880 million youngsters need treatment for these parasitic sicknesses. Expanding commonness of parasitic illnesses, rising interest for the treatment, and expanding number of patients drives the development of the market. Besides, changing way of life and expanding geriatric populace have expanded the likelihood of causing stomach related tract diseases, in this manner helps in driving the development of the market.

Additionally, the increasing need for the cost-effective treatment and increasing per capita income have fuelled the market growth. However, antihelminthics drugs are slightly toxic and some of the side effects are observed in some patients. This factors may restrain the growth of the market.

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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),
  • AstraZeneca (UK)

Regional Analysis

The Americas command the major share of the market owing to the large patient population, strong government support for research & development, growing prevalence of digestive diseases. According to the National Institute of Diabetes and Digestive and Kidney Diseases, over 135 million people are suffering from GI infection in America. Moreover, increasing geriatric population has fuelled the growth of the market.  

Europe holds the second position in the global antihelminthics market followed by Asia Pacific.  The growth of the European market is majorly attributed to the increasing geriatric population, government support, and well-developed healthcare sector. Asia Pacific is the fastest growing antihelminthics market.

China, and India are the key contributors to the market growth due to huge patient population, rapidly growing economy to support the population, increasing healthcare expenditure, and huge population base.

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The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition in African region. However the growth of the Africa market is high due to presence of opportunities for the development of this market.

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