Malaria Treatment Market is expected to be worth US$ 1.80 billion in 2023, up from US$ 1.72 billion in the fiscal year 2022. From 2023 to 2033, the market is expected to grow at a 5% CAGR, reaching US$ 2.93 billion by the end of that year. Malaria affected over 210 million people worldwide in 2019, according to the World Intellectual Property Organization (WIPO).
Malaria is a contagious, sometimes lethal disease. It is caused by Plasmodium, a little parasite that mosquitoes transmit to humans. Malaria may be caused by four different plasmodium species; however, plasmodium falciparum is the one that most often results in fatal cases.
Due to increased funding from regional governments, the global market for anti-malaria drugs is likewise growing rapidly. This money ought to make it feasible for research companies like Medicines for Malaria Venture to keep looking at potential lead chemicals that might combat malaria. For instance, in November 2017, the US Agency for International Development (USAID) gave US$ 9 million to Medicines for Malaria Venture to be used for three projects: a pharmacovigilance study of Pyramax (pyronaridine-artesunate), a SERC Phase III research to establish a single-exposure revolutionary cure, and a study to evaluate the efficacy of DSM265, a prospective single-exposure radical cure. These improvements are anticipated to drive the global market for malaria therapy.
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Region-wise, the MEA will grow with the fastest CAGR during the forecast period. The Middle East and Africa have held the lion’s share of the market share and are expected to continue doing so in the future due to the fast rising incidence of malaria in the region. According to the World Health Organization (WHO) report 2021, 241 million cases of malaria were anticipated worldwide in 2020, with 228 million of those cases happening in the WHO African Region. As a result, one of the largest segments of the market for anti-malarial medications is expected to come from the Middle East and Africa. Such developments will bolster the growth from 2023-2033.
Key Takeaways from the Market Study
- The global malaria treatment market is currently worth more than US$ 1.72 Billion.
- The oral segment by route of administration is going to occupy a 49% global market share in 2023.
- The hospital pharmacies segment by distribution channel type will be the fastest growing segment during the forecast period with a 5.4% CAGR.
- The North American region is predicted to grow with a steady CAGR of 4.6% during 2023-2033.
- The MEA malaria treatment market is expected to grow with a steady CAGR of 5.5% during 2023-2033.
“Some of the factors driving the market for malaria therapy include the incidence of malarial infection, government initiatives and awareness-raising campaigns, the availability of anti-malarial drugs, and rising healthcare expenditures.” comments a Future Market Insights analyst.
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Competitive Landscape
Zydus Healthcare Ltd., Sun Pharmaceutical Industries Ltd., Sanofi SA, GSK Plc, Novartis AG, Cipla Ltd, Viatris Inc., Lupin Ltd, Advacare Pharma USA Llc, and VLP Therapeutics LLC are a few of the well-known companies in the worldwide market for treating malaria.
- The Gates Foundation-funded Gavi immunization programme introduced the GlaxoSmithKline (GSK) Mosquirix vaccine in three African countries—Kenya, Ghana, and Malawi—in July 2022. The first antimalarial vaccine ever created is allegedly this one. In countries with moderate to high P. falciparum malaria transmission rates, this is an essential initial step in the malaria vaccine deployment.
- In March 2022, Tafenoquine, a brand-new drug that cures a particular strain of malaria, received a license in Australia from Medicines for Malaria Venture (MMV), which also co-developed the drug with GlaxoSmithKline (GSK) for use in children and teenagers. The drug is coupled with chloroquine, a popular anti-malarial drug.
Key Segments Covered in the Malaria Treatment Market Report
Malaria Treatment Market by Treatment:
- Prescription Medications
- Vaccines
- Diagnostic Tests
- Others
Malaria Treatment Market by Drug Type:
- Branded
- Generic
Malaria Treatment Market by Route of Administration:
- Oral and Parenteral
- Intravenous
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Malaria Treatment Market by Distribution Channel:
- Direct Tender
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Malaria Treatment Market by End User:
- Hospitals
- Specialty Clinics
- Homecare
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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