Albendazole is in a class of drugs known as anthelmintics medication, also known as albendazolum. It inhibits the production or replication of newly hatched insect larvae (worms) in the body. It is used to treat various infections caused by worms such as pork tapeworm and dog tapeworm. It can be used for various purposes in humans and animals. In animals, it is used to treat capillariasis that is caused by Capillaria plica (dogs and cats) and C. felis cati (cats). Capillaria infect the urinary bladder, so they are sometimes referred to as bladder worms. Additionally, it has been used to treat filaroides infections and giardia infections in dogs. It works by stopping sugar absorption by worms, so the energy production is diminished and results in immobilization and death of the parasite.
MARKET SCOPE
The "Global Albendazole Anthelmintic Drug Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the albendazole anthelmintic drug market with detailed market segmentation by type, application, and geography. The report provides key statistics on the market status of the leading albendazole anthelmintic drug market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
-Based on type, the global albendazole anthelmintic drug market is segmented into tablets, capsules and others.
-On the basis of application, the market is bifurcated into human and veterinary.
MARKET DYNAMICS
Drivers
-Growing incidences of neurocysticercosis infection and high prevalence of human parasitic worm infections drive the albendazole anthelmintic drug market.
-Rising awareness about soil-transmitted infections and filarial infections in humans and rising incidences of helminthic infection boosts the market growth.
-Rise in awareness about veterinary care favour growth of the global market.
-Growing government initiatives for creating awareness to eradicate the infection and increasing awareness about combination therapy in order to reduce the drug resistance in animals propel market growth.
-Rising innovations in anthelmintic drugs and expanding R&D activities for new drug development fuel the market growth.
Restraints
-Side effects associated with albendazole anthelmintic drugs.
-Rise in multidrug-resistance.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The albendazole anthelmintic drug market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the albendazole anthelmintic drug market in these regions.
IMPACT OF COVID-19 ON ALBENDAZOLE ANTHELMINTIC DRUG MARKET
COVID-19 first began in Wuhan (China) during December 2019, and since then, it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The outbreak of COVID-19, has surged an unprecedented demand for medication that are capable of fighting off the novel coronavirus infection. Some companies are validating promising potentials of anthelmintic drug therapy for treatment of COVID-19. As a result, niclosamide has been found to be potentially effective in many countries for treating coronavirus patients. Hence, this led to increased drug demand in the market. Companies in the anthelmintic drugs market are taking extra efforts to conduct clinical trials in existing therapeutic drugs that may be effective in coronavirus treatment, this overall results in high demand for albendazole anthelmintic drug in the forecast period.
MARKET PLAYERS
The report covers key developments in the albendazole anthelmintic drug market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from albendazole anthelmintic drug market are anticipated to have lucrative growth opportunities in the future with the rising demand for albendazole anthelmintic drug in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the albendazole anthelmintic drug market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
-Amneal Pharmaceuticals Inc
-Cipla Inc.
-Sun Pharmaceutical Industries Ltd
-GlaxoSmithKline
-Salius Pharma
-Sequent Scientific
-K.A. Malle Pharmaceuticals
-Jiangsu Qihui
-Supharma Chem
-Fredun Pharmaceuticals Ltd
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.