According to our latest study on “Malaria Treatment Market Forecast to 2027 – COVID-19 Impact and Analysis – by Treatment Type, Route of Administration, and End User,” the market was valued at US$ 1,508.12 million in 2019 and is projected to reach US$ 2,126.42 million by 2027; it is expected to grow at a CAGR of 4.4% from 2020 to 2027. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
The high prevalence of malaria in low-income countries, and increasing initiatives undertaken by governments globally is driving the growth of the malaria treatment market. In March 2020, Food and Drug Administration issued an Emergency Use Authorization (EUA) allowed the usage of hydroxychloroquine sulfate and chloroquine phosphate products in certain hospitalized patients with COVID-19 in North America. This boosted the manufacturing of the active pharmaceutical ingredient (API) to 6 times in the companies such as Abbott, Zydus Cadila, Ipca Laboratories, Novartis, and others.
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Based on route of administration, the malaria treatment market is segmented into oral and parenteral. The oral segment held a larger share of the market in 2019, and is anticipated to register a higher CAGR during the forecast period. Oral drug delivery is the most preferred and suitable route of drug administration as it offers high patient compliance, non-invasiveness, cost-effectiveness, flexibility in the design of dosage form, and ease in the manufacturing process.
Advanz Pharmaceutical, Ipca Laboratories Ltd, Zydus Cadila, Glenmark, Olympus Corporation, Abbott, Sun Pharmaceutical Industries Ltd, Sanofi, GlaxoSmithKline plc., Novartis AG, and TEVA PHARMACEUTICAL INDUSTRIES LTD are among the leading companies operating in the global malaria treatment market.
The report segments global malaria treatment market as follows
By Treatment Type
- Antimalarial Agents
- Diagnostic Test
By Route of Administration
By End User
- Specialty Clinics
Sanofi, and GlaxoSmithKline plc - Notable Market Players in Malaria Treatment Market
Malaria is a life-threatening infectious disease caused by the Plasmodium parasite. The market for malaria treatment is growing due to the high prevalence of malaria in low-income countries and global malaria elimination programs by international and national organizations. Also, the increasing launch of advanced diagnostic tools and rising research activities to provide effective therapeutics is further driving the growth of the market.
Market leaders operating in the market have undertaken various organic growth strategies in the malaria treatment market. The malaria treatment market majorly consists of the players Advanz Pharmaceutical, Ipca Laboratories Ltd, Zydus Cadila, Glenmark, Olympus Corporation, Abbott, Sun Pharmaceutical Industries Ltd, Sanofi, GlaxoSmithKline plc., Novartis AG, and TEVA PHARMACEUTICAL INDUSTRIES LTD. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the malaria treatment market :
Jan-2021 GSK, MMV filling for Kozenis (tafenoquine) accepted by Australian Therapeutic Goods Administration
May-2020 ADVANZ PHARMA Corp. Limited acquired Correvio Pharma Corp. and entered into an arrangement agreement to acquire specialty pharmaceutical company Correvio Pharma Corp. which provided ADVANZ PHARMA with an immediate and direct commercial presence in Germany, France, Spain, Italy, and the Benelux region.
Dec-2019 Ipca Laboratories entered into a partnership agreement with a leading product development partnership, Medicines for Malaria Venture (MMV), to co-develop a novel antimalarial co-formulation named "Atoguanil".
Jan-2019 Abbott unveiled that it is supporting a partnership between the government of the eastern Indian state of Odisha and Malaria No More. In partnership with Malaria No More and the government of Odisha, Abbott aimed to supply 1 million rapid diagnostic tests (RDTs) and technical expertise in order to strengthen Odisha's malaria detection and surveillance