Antiparasitic Drugs : Why companies need to think ahead?

Overview:

There are several classes of antiparasitic drugs. Flubendazole, an anthelmintic, is used to treat worm infections in humans. Iodoquinol is a halogenated hydroxyquinoline, which interferes with the metabolism of protozoa and also acts as a chelating agent by reducing ferrous ions. Paromomycin inhibits protein synthesis and is used in the treatment of visceral leishmaniasis. The artemesinin derivative decoquinate is used to delay the growth of coccidian parasites.

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Market Drivers:

Rise in cases of parasitic infections like Chagas Disease, is expected to propel growth of the global antiparasitic drugs market over the forecast period. As per the World Health Organization, more than 1.5 billion people which 24% of the global population, suffers from soil-transmitted helminth infections all over the world. With increasing prevalence of parasitic diseases, the demand for antiparasitic drugs increases rapidly. 

Moreover, increasing R&D activities by market players to launched new antiparasitic drugs, and increase in initiatives taken by non-profit groups and government to grow awareness among public about parasitic infections is also expected to boost growth of the global antiparasitic drugs market over the forecast period. 

Market Research:

Factors such as risks related to anti-parasitic drugs, its negative side effects and lack of wareness in people in rural area of emerging and underdeveloped countries are likely to restrain growth of the global antiparasitic drugs market over the forecast period. 

Regional Insights:

North America is anticipated to witness substantial growth in the global antiparasitic drugs market over the forecast period. This is due to rise in cases of malaria infection, increase in strategic initiatives taken by market players and growing R&D activities in the region. 

Moreover, Africa is also anticipated to witness significant growth in the global antiparasitic drugs market over the forecast period. This is due to rise in risk of malaria in the region. 

Key Players:

Major players active in the global antiparasitic drugs market are Alkem Laboratories Limited, Ipca Laboratories Ltd., AstraZeneca, Zydus Cadila, Sanofi, Merck, Arbor Pharmaceuticals Inc., Pfizer, Roche Inc., GlaxoSmithKline Plc., Bayer AG, Cipla Ltd., Alvizia Health Care, Ranbaxy Laboratories, and Novartis AG.

In August 2020, Mankind Pharma, a Delhi-based company parted with Daewoong Pharmaceutical company for conducting clinical trials of anti-parasitic drug niclosamide for COVID-19.