The global malaria treatment market is projected to be valued at approximately USD 1.8 billion in the fiscal year 2023, an increase from USD 1.72 billion in 2022. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5% from 2023 to 2033, reaching an estimated valuation of USD 2.93 billion by the end of the forecast period.
This growth is driven by ongoing efforts to combat malaria, a life-threatening disease that continues to affect millions worldwide. Advances in treatment options, increased funding for malaria research and prevention, and heightened awareness of the disease’s impact are key factors contributing to the market’s expansion.
As healthcare initiatives continue to focus on improving treatment accessibility and efficacy, the malaria treatment market is set to play a vital role in reducing the global burden of this disease.
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.
More Valuable Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the malaria treatment market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.
The study divulges essential insights on the market on the basis of malaria treatment market by treatment (prescription medications, vaccines, diagnostic tests, and others), drug type (branded and generic), route of administration (oral and parenteral & intravenous), distribution channel (direct tender, hospital pharmacies, retail pharmacies, online pharmacies, and others), end user (hospitals, specialty clinics, homecare, and others) and region.
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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