The global malaria treatment market is projected to witness significant growth over the next decade, according to recent industry reports. In 2023, the market is estimated to be valued at USD 1.8 billion, marking an increase from USD 1.72 billion in 2022. This upward trajectory is set to continue, with the market expected to expand at a compound annual growth rate (CAGR) of 5% between 2023 and 2033.
By the end of 2033, the malaria treatment market is forecasted to achieve a market value of USD 2.93 billion, driven by advancements in treatment protocols, increased awareness, and ongoing research and development efforts. Key factors contributing to this growth include the introduction of innovative therapies and a rising focus on reducing the global malaria burden.
This growth is driven by increased investment in research and development, advancements in malaria treatment technologies, and the ongoing global effort to combat the disease. The rise in market value reflects both the growing need for effective malaria treatments and the substantial progress being made in the field of pharmaceuticals and healthcare.
The expansion of the malaria treatment market is critical in the fight against one of the world’s most persistent and widespread infectious diseases. Efforts to improve treatment options, enhance accessibility, and implement innovative solutions are key factors contributing to the market’s upward trajectory.
Due to increased funding from regional governments, the global market for anti-malaria drugs is likewise growing rapidly. This money ought to make it feasible for research companies like Medicines for Malaria Venture to keep looking at potential lead chemicals that might combat malaria. For instance, in November 2017, the US Agency for International Development (USAID) gave US$ 9 million to Medicines for Malaria Venture to be used for three projects: a pharmacovigilance study of Pyramax (pyronaridine-artesunate), a SERC Phase III research to establish a single-exposure revolutionary cure, and a study to evaluate the efficacy of DSM265, a prospective single-exposure radical cure. These improvements are anticipated to drive the global market for malaria therapy.
Region-wise, the MEA will grow with the fastest CAGR during the forecast period. The Middle East and Africa have held the lion’s share of the market share and are expected to continue doing so in the future due to the fast rising incidence of malaria in the region. According to the World Health Organization (WHO) report 2021, 241 million cases of malaria were anticipated worldwide in 2020, with 228 million of those cases happening in the WHO African Region. As a result, one of the largest segments of the market for anti-malarial medications is expected to come from the Middle East and Africa. Such developments will bolster the growth from 2023-2033.
Key Takeaways from the Market Study
- The global malaria treatment market is currently worth more than US$ 1.72 Billion.
- The oral segment by route of administration is going to occupy a 49% global market share in 2023.
- The hospital pharmacies segment by distribution channel type will be the fastest growing segment during the forecast period with a 5.4% CAGR.
- The North American region is predicted to grow with a steady CAGR of 4.6% during 2023-2033.
- The MEA malaria treatment market is expected to grow with a steady CAGR of 5.5% during 2023-2033.
“Some of the factors driving the market for malaria therapy include the incidence of malarial infection, government initiatives and awareness-raising campaigns, the availability of anti-malarial drugs, and rising healthcare expenditures.” comments a Future Market Insights analyst.
Competitive Landscape
Zydus Healthcare Ltd., Sun Pharmaceutical Industries Ltd., Sanofi SA, GSK Plc, Novartis AG, Cipla Ltd, Viatris Inc., Lupin Ltd, Advacare Pharma USA Llc, and VLP Therapeutics LLC are a few of the well-known companies in the worldwide market for treating malaria.
- The Gates Foundation-funded Gavi immunization programme introduced the GlaxoSmithKline (GSK) Mosquirix vaccine in three African countries—Kenya, Ghana, and Malawi—in July 2022. The first antimalarial vaccine ever created is allegedly this one. In countries with moderate to high P. falciparum malaria transmission rates, this is an essential initial step in the malaria vaccine deployment.
- In March 2022, Tafenoquine, a brand-new drug that cures a particular strain of malaria, received a license in Australia from Medicines for Malaria Venture (MMV), which also co-developed the drug with GlaxoSmithKline (GSK) for use in children and teenagers. The drug is coupled with chloroquine, a popular anti-malarial drug.
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Key Segments Covered in the Malaria Treatment Market Report
Malaria Treatment Market by Treatment:
- Prescription Medications
- Vaccines
- Diagnostic Tests
- Others
Malaria Treatment Market by Drug Type:
- Branded
- Generic
Malaria Treatment Market by Route of Administration:
- Oral and Parenteral
- Intravenous
Malaria Treatment Market by Distribution Channel:
- Direct Tender
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
Malaria Treatment Market by End User:
- Hospitals
- Specialty Clinics
- Homecare
- Others
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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