Anthelmintics Is Fastest Growing Segment Fueling The Growth Of Fascioliasis Market

Fascioliasis Market

 


The global Fascioliasis Market is estimated to be valued at US$ 361.3 Mn or Million in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Fascioliasis is a foodborne disease caused by liver fluke parasites known as Fasciola hepatica and Fasciola gigantica. Anthelmintic drugs are essential in treating fascioliasis infection and helps control further spread of infection.


Market key trends:


Rising prevalence of fascioliasis globally has increased the demand for effective diagnosis and treatment of the disease. As per WHO study published in 2020, over 2.4 million people are estimated to be infected with fascioliasis globally which is fueling the sales of anthelmintic drugs developed for fascioliasis treatment. Drugmakers are focusing on developing novel and effective anthelmintic drugs with higher efficacy and safety for long-term treatment of chronic fascioliasis infection. For instance, in 2021 Novartis AG received FDA approval for anthelmintic drug Egaten to treat acute and chronic fascioliasis infection in patients aged 12 years and older.

Segment Analysis


The global fascioliasis market is segmented based on species, treatment, end-user, and region. By species, the market is divided into Fasciola hepatica and Fasciola gigantica. The F. hepatica segment held the largest share of the market in 2022 and is projected to register the highest CAGR during the forecast period owing to its global distribution and ability to infect humans and livestock animals.

By treatment, the market is classified into triclabendazole, nitroxynil, and other drugs. The triclabendazole segment accounted for the largest share in 2022 as it is the only recommended drug for human fascioliasis by the World Health Organization.

By end-user, the market is categorized into hospitals, clinics, research institutes, and others. The hospitals segment dominated the market in 2022 due to high preference for hospital-based treatments among patients and availability of advanced healthcare infrastructure and medical reimbursement facilities.


Key Takeaways


The Global Fascioliasis Market Size was valued at US$ 361.3 million in 2023 and is expected to witness high growth, exhibiting a CAGR of 4.5% over the forecast period, due to increasing prevalence of fascioliasis infection globally.

The Asia Pacific region is projected to be the fastest growing market during the forecast period. This is attributed to the high prevalence of fascioliasis in countries such as China, India, Indonesia, and Vietnam.

Key players operating in the fascioliasis market are Novartis AG, AMGIS Lifescience Ltd., Romark, AbbVie Inc., Merck KGaA, AdvaCare Pharma, Intas Pharmaceuticals Ltd., Procyon Life Sciences, Adroit Pharmachem Pvt Ltd., Sun Pharmaceutical Industries Ltd., RV Lifesciences Limited, Grampus Laboratories, and Janssen Pharmaceuticals, Inc. Among these, Novartis AG, AbbVie Inc, and Merck KGaA hold a significant share of the market due to their diverse product portfolios and strong global presence.

 

Read More - https://www.pressreleasebulletin.com/fascioliasis-market-share-demand-and-growth-analysis-size-forecast/

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