Antiparasitic Drugs Market is Projected to Increase Revenues Growth, Business Insights, Future Demand and Forecast 2024-2033 | Bayer AG, Novartis AG, Sanofi S.A., Zoetis Inc., Eisai Co. Ltd.

The Business Research Company recently released a comprehensive report on the Global Antiparasitic Drugs Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, the antiparasitic drugs market size has grown strongly in recent years. It will grow from $22.47 billion in 2023 to $24.06 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to prevalence of parasitic infections, resistance to existing treatments, global health initiatives,.

The antiparasitic drugs market size is expected to see strong growth in the next few years. It will grow to $31.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to emerging parasitic threats, climate change and vector-borne diseases, increased emphasis on global health security, access to healthcare. Major trends in the forecast period include advances in drug development, targeted therapies, combination therapies, public-private partnerships, telemedicine and remote diagnosis.

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Market Drivers and Trends:

The increasing incidence of vector-borne diseases is expected to propel the growth of the antiparasitic drugs market going forward. Vector-borne diseases refer to infectious diseases transmitted to humans or other animals through the bite of arthropods, primarily insects like mosquitoes, ticks and flies. Some examples of vector-borne diseases include malaria, dengue and yellow fever. Antiparasitic drugs play an essential role in stopping the spread of vector-borne diseases by targeting and eliminating the parasites responsible. A few antiparasitic drugs, including chloroquine, doxycycline and atovaquone-proguanil, are commonly used to cure malaria.

Major companies operating in the antiparasitic drugs market are focused on developing innovative products and solutions to sustain their position in the market. For instance, in August 2021, ParaPRO LLC, a US-based pharmaceutical company, launched Natroba Topical Suspension, the first antiparasitic product (new drug application) to be approved by the U.S. Food and Drug Administration (FDA) for the treatment of scabies. Its active ingredient, Spinosad, acts on the lice's nervous system, causing paralysis and their demise. It is applied topically to the scalp and hair and may only require one application. Spinosad, the active ingredient in Natroba, is delivered to the stratum corneum, the outermost layer of the epidermis and targets mites at the site of infestation without penetrating deeply into the dermis or entering systemic circulation, which is what makes this therapeutic option unique.

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Major Key Players of the Market:

Pfizer Inc., Johnson & Johnson, Cadila Pharmaceuticals, Merck & Co.Inc., Bayer AG, Novartis AG, Sanofi S.A., GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim group, Zoetis Inc., Eisai Co. Ltd., Covetrus Inc., IDEXX Laboratories Inc., Dr. Reddy's Laboratories, Intas Pharmaceuticals Ltd., Alkem Laboratories Ltd., Ceva Sante Animale S.A., Elanco Animal Health Incorporated, Phibro Animal Health Corporation, Norbrook Laboratories Ltd., Mankind Pharma, Neogen Corporation, Bimeda Inc., Indoco Remedies Ltd., ECO Animal Health, Lincoln Pharmaceuticals Ltd., Laboratorios Calier.

Antiparasitic Drugs Market 2024 Key Insights:

• The antiparasitic drugs market size is expected to see strong growth in the next few years. It will grow to $31.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Rising Incidence Of Vector-Borne Diseases Sparks Growth In The Antiparasitic Drugs Market
• US FDA Approval Marks A Milestone For Parapro's Natroba In The Antiparasitic Drugs Market.
• North America was the largest region in the antiparasitic drugs market in 2023.

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