Albendazole Anthelmintic Drug Market Size, Share, Industry, Forecast and outlook (2024-2031)

Albendazole Anthelmintic Drug Market Size

Albendazole anthelmintic drug market was valued at USD million in 2021. It is forecasted to reach USD million by 2031, growing at a CAGR of 6.5% during the forecast period (2024-2031). 

Albendazole, also known as albendazole, is an anthelmintic drug. It inhibits the production or replication of new insect larvae (worms) in the body. It is used to combat inflammatory diseases from worms like pork wire and dog tapestry. For various purposes, albendazole can be used in humans and livestock. The capillary disease is caused by capillary pelicans (dogs and cats), and C is used in poultry. Cati Felis (cats). Capillary bladders infect, so they are sometimes referred to as bladder worms. With albendazole. Due to growing neurocysticercosis cases, the demand for albendazole drugs will expand dramatically in the coming years (infection caused by the pork tapeworm in the muscles, brain, and eyes that may cause seizures, brain swelling, and vision problems).

Albendazole anthelmintic drug market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation by type, by application, and by region. It also provides global Albendazole anthelmintic drug market size and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with regard to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, the United Kingdom, Russia, European countries, the United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and the rest of the countries over the globe.

Among all regions, the North American region is expected to hold the largest share of the global market over the forecast period. albendazole anthelmintic drug market in the United States and Canada produces the utmost share. Whereas the European Albendazole anthelmintic drug market is projected to continue its presence globally during the period of 2024-2031.

Market Summary

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Market Dynamics

Growing demand Albendazole Anthelmintic Drug in the treatment of Helmonthasis

Helmonthasis, also known as worm infection, is a human and other animal macroparasite disease that includes parasite worms in most of the body, known as helminths. A rise in the prevalence is expected to drive the market for anthelmintic medicine caused by roundworm, hookworm, whipworm and other worms. In exchange, the size of the global economy is projected to improve. According to the WHO, nearly 1.5 billion people worldwide have suffered from soil-borne helminth infection as of March 2020. 24 per cent of the global human population accounts for this figure. Ascaris lumbricoides (roundworms), trichuriasis trichiura (whipworms), necator americanus, and ancylostoma duodenale are major species that raise the disease burden. According to WHO info, soil-transmitted helminth infection distribution in Sub-Saharan Africa, the Americas, China and countries in Asia was higher in March 2020. The National Deworming Day, for example, is a big effort by the Government of India's Ministry of Health and Family Welfare to make the nation worm-free. In India, 241 million children aged 1 to 14 years are at higher risk of parasitic intestinal worms, according to the WHO. The government is also expected to establish recommendations for awareness-raising and the eradication of helminth infection.

On the other hand, albendazole anthelmintic drug's side effects, such as headache, neck stiffness, increased sensitivity to light, confusion, and fever, may act as restraint of the market share. Further, Albendazole can increase your risk of bleeding or infection.

Market Segmentation Analysis

The tablet albendazole anthelmintic drug segment is projected to be the market's dominant segment during the forecast period

The tablets segment accounts for the largest market share of the global Albendazole Anthelmintic Drug market and is projected to rise during the forecast period at its highest CAGR. The category of tablets and powders is growing primarily because of ease of use and relatively better absorption

Different prevention steps for the management of parasites in animals are being introduced. Veterinarians rely on anthelmintic drugs to protect the animals health, as vaccines are not readily available and better vaccines have to be developed. Companies take advantage of value capturing opportunities for improved animal health through increased availability of macrocyclic benzimidazoles and tetrahydropyrimidines on the anthelmintic drugs market.

Market Geographical Share

North America is the dominating region during the forecast period.

In North America, major research and development players will account for a significant share of global albendazole demand for medicines. The USA, for example. The Food and Drug Administration authorized the Cipla Abbreviated New Medication Request for Albendazole Tablets. Further, major players in the region are adopting the product launch to increase the product portfolio and gain competitive market share. Moreover, the demand for albendazole drugs in Asia-Pacific is expected to develop rapidly in the timeframe predicted, as the prevalence of helminthic infection is growing and increasing.

Companies and Competitive Landscape

The albendazole anthelmintic drug market is moderately competitive, owing to major market players in key regions such as the US, China, India, and others. The key albendazole anthelmintic drug players contributing to the growth of the global market include GlaxoSmithKline, Fredun Pharmaceuticals Ltd., Sequent Scientific, Huazhong Pharmaceutical, Zhongjia Pharmaceutical, Jiangsu Qihui, Salius Pharma, Lasa Supergenerics Limited, K.A. Malle Pharmaceuticals, and Supharma Chem, among others. The major players are adopting new product launch and expansion strategies for global growth in the albendazole anthelmintic drug market.  In June 2020, Pharma major Lupin announced that it has received approval for its Albendazole Tablets USP, 200 mg, from the U.S. FDA, to market a generic equivalent of Albenza Tablets, 200 mg, of Impax Laboratories Inc. In April 2021, Dr. Reddy's Laboratories along with its subsidiaries announced the launch of Albendazole Tablets, USP, a therapeutic equivalent generic version of Albenza Tablets, approved by the U.S. Food and Drug Administration (USFDA).

COVID-19 Impact:

Positive impact on the global Albendazol Anthelmintic Drug market

With the continuing breakout of coronavirus COVID-19, the unprecedented need for medications to tackle the novel infection has been intensified. As a result, AI, Gero, is recognized as a global expert in AI-driven drug developments and validating promising anthelmintic drug therapy potentials for COVID-19. As a result, the treatment of coronavirus in patients with niclosamide has proven to be successful. It has been approved in the U.S., Italy, France, and a few other countries where active COVID-19 patients are high. With the approval of niclosamide, it will be easier to use AI-driven drug development methods to take advantage of money-making opportunities in the anthelmintics market. Anthelmintic drug market firms are working to carry out clinical trials of existing therapeutic drugs that can be effective for treating coronavirus, which has further led to the demand for albendazole anthelmintic drug.

The global albendazole anthelmintic drug market report would provide access to approximately 51 market data tables, 45 figures and 190 pages