Antimalarial Drugs Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Antimalarial Drugs Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Antimalarial Drugs Market Size

Antimalarial Drugs Market size is projected to expand at a notable CAGR from 2024 to 2032 driven by the rapid increase in incidences of malaria, prompting organizations to develop effective medical formulations to tackle the disease’s symptoms. According to the WHO, in 2022, there were an anticipated 249 million malaria cases and 608000 fatalities in 85 countries. This rising disease penetration will positively impact the demand for antimalarial medicines.
 

Moreover, the strong presence of companies specializing in the production of hydroxychloroquine will further accelerate the industry development. However, the market may encounter obstacles, such as drug resistance, inadequate healthcare infrastructure in affected areas, higher R&D costs, limited funding, and the rising complexities of the malaria parasite. This may limit widespread access, innovation, and overall industry expansion to some extent.
 

Antimalarial Drugs Market Trends

The rising government initiatives and investments led by organizations for the development of advanced medicines to tackle chronic diseases, such as malaria will fuel the market expansion. To cite an instance, the Global Health Innovative Technology Fund (GHIT Fund) of Japan invested around US$3.3 million in a multicenter Phase III scientific research project conducted by Fosun Pharma for a triple artemisinin combination drug against malaria in Southeast Asia and Africa, for accelerating the drug's development and commercialization.
 

Regions, including Africa and the APAC, are witnessing an alarming increase in the number of people being diagnosed with Malaria. Public health agencies are working together with the regional governments to amplify their efforts towards reducing the mortality rate from the disease. For instance, in November 2022, the WHO launched a new strategy to address the issue of antimalarial drug resistance in Africa, further enhancing the production of medications with improved capabilities.
 

Antimalarial Drugs Market Analysis

Based on drug type, the market size from the hydroxychloroquine segment is predicted to register a notable CAGR over 2024-2032. Hydroxychloroquine has often shown a high success rate in the treatment of malaria, creating several business opportunities for drugmakers. Since the medicine has good tolerability, high efficiency, and is cost-effective, more patients are opting for hydroxychloroquine to treat malaria.
 

By application, the treatment segment is expected to capture a sizeable share of the antimalarial drugs industry by 2032. Malaria treatments depend on multiple factors, including the species of malaria parasite, the intensity of the disease, and the country/region in which the patient contracted the infection. The increasing global mortality rate from malaria might require people to receive proper medication to treat the disease effectively.
 

The U.S. antimalarial drugs market is anticipated to depict a notable progression rate over 2024-2032. The growth can be majorly attributed to a strong rise in the number of people falling prey to malaria. According to the U.S. CDC, the U.S. records around 2,000 cases of malaria each year. The rising import of hydroxychloroquine tablets in the country will also contribute to the development of the antimalarial drugs industry.
 

Antimalarial Drugs Market Share

Some of the leading antimalarial drug makers operating in the industry are-

• Cipla
• Ipca Laboratories
• Mylan
• Zydus Cadila
• GlaxoSmithKline
• Strides Pharma Science Limited
• Teva Pharmaceutical
• F. Hoffmann-La Roche Ltd.
• Novartis
• Lincoln Pharmaceuticals
• Bayer
• Alliance Pharma
• Glenmark Pharmaceuticals

Leading firms operating in the antimalarial drugs industry are focusing on implementing various strategies, such as partnerships, new product launches, acquisitions, and production capacity expansions to gain competitive edges. To illustrate, Cipla emerged as a key market player owing to its commitment to affordable healthcare, and significant contributions to malaria treatment and prevention across the globe.
 

Antimalarial Drugs Industry News

• In November 2022, Novartis and MMV agreed to advance the ganaplacide/lumefantrine-SDF (solid dispersion formulation) into Phase 3 development for use in the treatment of patients with acute, uncomplicated malaria caused by Plasmodium falciparum, in response to the growing concerns of resistance to existing malaria therapies.

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