The global artemisinin market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rise in the application of artemisinin in the pharmaceutical industry.
Artemisinin is a drug used for the treatment of malaria as well as parasitic worm infections. It is effective drug for malaria treatment caused by plasmodium falciparum, which is a highly prevalent cause for the disease. Malaria, as a disease, is caused by the bite of anopheles mosquitos that carry malaria causing pathogens in its saliva such as plasmodium falciparum, plasmodium vivax, plasmodium ovale, plasmodium malariae, and plasmodium kowlesi. As per the “World Malaria Report 2018” of the World Health Organization (WHO), there were around 219 million patients of malaria with about 435,000 cases of deaths in year 2017, out of these the highest number of malaria cases were caused due to plasmodium falciparum.
Malaria is most prevalent in countries such as India, China, Nigeria, Uganda, Congo, and some South-East Asian countries. A major organization such as WHO has recommended artemisinin as first-line drug for malaria; while the combination therapy of artemisinin has proven to be effective in treatment of malaria and it is highly accepted by physicians across the globe.
Market Trends, Drivers, Restraints, and Opportunities
- High prevalence of malaria, fast diagnostic testing options, and great awareness of the disease among the population are driving the market expansion.
- Government initiatives to control the disease and rapid development of advanced treatment drugs are expected to propel the market growth in the coming years.
- Acceptance by WHO for artemisinin use and wide recommendation of the drug by majority of the physicians globally are key factors boosting the market revenue.
- Early stages of development and low availability of the drugs due to less number of manufacturers are key major challenges that can restrain the market expansion.
- Side-effects of the drugs available and presences of counterfeit drugs are acting as restraining forces to hinder the market growth during the forecast period.
- High malaria patient population as well as efforts of WHO and involvement of several governments to increase the awareness about the disease shows huge opportunities of the market growth during the forecast period.
Scope of the Report
The report on the global artemisinin market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Artemisinin Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Malaria, Cancer, and Helminth Parasites) and Production Mechanisms (Biosynthesis, Chemical Synthesis, and Engineered Organisms)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Yeshua-Bio-Tech; Guilin Pharmaceutical Co. Ltd; Sanofi Aventis; Shanghai Desano Chemical Pharmaceutical Co. Ltd; Kunming Pharmaceutical Corporation; Calyx Pharmaceuticals and Chemicals; and Mylan Laboratories Limited.
Market Segment Insights
Malaria segment is expected to grow at a robust pace
On the basis of applications, the global artemisinin market is divided into malaria, cancer, and helminth parasites. The malaria segment is expected to grow at a robust pace in the coming years owing to the high prevalence of the disease and great use of artemisinin for the treatment. The recommendation of organization such as WHO for the use of artemisinin in malaria has increased the market segment revenue.
On the other hand, the cancer segment is projected to exhibit a healthy growth rate during the forecast period owing to highly prevalent of the disease worldwide and massive research on this segment. Artemisinin has its application in the treatment of cancer, which presents a key factor driving the segment growth.
Chemical synthesis segment is anticipated to grow at a substantial CAGR
Based on production mechanism, the market is segmented into biosynthesis, chemical synthesis, and engineered organisms. The chemical synthesis segment is anticipated to grow at a substantial CAGR during the forecast period owing to the advantages such as time saving, fast process, easy to perform, and high yield. However, the biosynthesis segment is projected to account for a large market share during the projected period due to wide development in biosynthesis products for several medical treatments.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global artemisinin market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key market share in the coming years owing to the high population of malaria patients in the region along with increasing government focus on disease prevention and treatment. Moreover, the wide adoption of herb arteminisin in some parts of China presents a key driver of the regional market growth.
On the other hand, the market of Middle East & Africa is estimated to account for a high growth rate during the projected period as the region has large number of malaria cases. Moreover, the prospect of rapid developing of the market in the region along with expanding focus on healthcare facilities are the key factors propelling the market in the region.
Segments Covered in the Report
The global artemisinin market has been segmented on the basis of
- Helminth Parasites
- Chemical Synthesis
- Engineered Organisms
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Sanofi Aventis
- Guilin Pharmaceutical Co. Ltd
- Calyx Pharmaceuticals and Chemicals
- Kunming Pharmaceutical Corporation
- Shanghai Desano Chemical Pharmaceutical Co. Ltd
- Mylan Laboratories Limited.
The key market players of the global artemisinin market are Yeshua-Bio-Tech; Sanofi Aventis; Guilin Pharmaceutical Co. Ltd; Calyx Pharmaceuticals and Chemicals; Kunming Pharmaceutical Corporation; Shanghai Desano Chemical Pharmaceutical Co. Ltd; and Mylan Laboratories Limited. Some of these players have adopted several business expansion strategies including entering into partnership or collaboration, launching new products, and expanding the production capacities to ensure their competitive edge in the market.