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Malaria Treatment Market to Outstrip $2,126.42 Million by 2027 Growing Sturdy at 4.4% CAGR - COVID-19 Impact and Global Analysis by TheInsightPartners.com

The Malaria Treatment Market Growth impelled by high prevalence of malaria in low-income countries and increasing initiatives undertaken by governments to minimize the cases of malaria; while Vaccine Segment to register highest CAGR during forecast period (2020–2027).

/EIN News/ -- Pune, India., April 21, 2021 (GLOBE NEWSWIRE) -- Malaria Treatment Market: Key Insights
According to our new research study on “Malaria Treatment Market to 2027 – Global Analysis and Forecast – by Malaria Treatment Type, Route of Administration, and End User,” the Malaria Treatment Market Size 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% during 2020–2027. The increasing resistance toward antimalarial drugs is hindering the market growth.

Malaria Treatment Market: Competition Landscape and Key Developments
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 key companies operating in the global malaria treatment market. The leading players are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

In January 2021, GSK’s, Medicines for Malaria Venture (MMV) filling for Kozenis (tafenoquine) accepted by Australian Therapeutic Goods Administration.

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In May 2020, ADVANZ PHARMA Corp. Limited entered into an arrangement agreement to acquire a specialty pharmaceutical company named Correvio Pharma Corp. The acquisition provided ADVANZ PHARMA with an immediate and direct commercial presence in Germany, France, Spain, Italy, and the Benelux region.

In 2019, the Middle East and Africa dominated the global malaria treatment market and accounted for approximately half of the market revenue. The growth of the market in this region is mainly attributed to the rising prevalence of malaria, surge in malaria awareness programs, availability of diagnostic tests for the disease, and initiatives by governments to control and prevent the prevalence of malaria across the region. On the basis of treatment type, the malaria treatment market is segmented into diagnostic tests, antimalarial agents, and vaccines. The diagnostic test segment accounted for more than 30% of the malaria treatment market in 2019. On the basis of route of administration, the malaria treatment market is segmented into oral and parenteral. The oral segment is expected to register a higher CAGR in the market during the forecast period. On the basis of end user, the market is segmented into hospitals specialty clinics and others. The hospital segment is expected to dominate the market during the forecast period.

Malaria is a life-threatening infectious disease caused by the parasite Plasmodium spp. The growth of the malaria treatment market is mainly due to the high prevalence of malaria in low-income countries and large-scale implementation of 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. The WHO African Region accounts for the highest share of the global malaria burden.

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As per the WHO, in 2019, the region accounted for ~94% of malaria cases and deaths. Also, six countries in the region accounted for half of the global count of death caused by malaria, with Nigeria (23%), the Democratic Republic of the Congo (11%), the United Republic of Tanzania (5%), Burkina Faso (4%), Mozambique (4%), and Niger (4%) being the prime contributors to the this. Children and pregnant women are the most vulnerable group affected by malaria.  In 2019, children accounted for 67% (274,000) of all malaria deaths worldwide. Also, every year, ~125 million pregnant women are at the risk of malaria worldwide. In Africa ~10,000 women and 200,000 babies die annually due to malaria. Apart from this, the increasing number of traveler malaria cases is also contributing to the demand for the malaria treatment modalities, as every year, thousands of people travel to malaria-affected region.

Malaria Treatment Market: Segmental Overview
In terms of treatment type, the antimalarial agents segment is anticipated to register the highest CAGR in the malaria treatment market during the forecast period. In terms of route of administration, the oral segment is estimated to dominate the market during the forecast period. In terms of end user, the hospital segment accounted for more than 40% share in the global malaria treatment market in 2019.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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