Albendazole Market Size & Growth Analysis to 2030

The global albendazole market size is anticipated to register a significant CAGR of 3.6% over the forecast period from 2021 to 2027 and estimated to reach 781 million by 2027. The significant increase in soil-transmitted helminth infection worldwide primarily drives the albendazole market growth. Furthermore, the effective implementation of treatment guidelines pertaining to parasitic infection by healthcare agencies throughout the globe further accentuates the albendazole market growth.

Albendazole is considered a broad-spectrum anthelmintic drug that exerts its pharmacological activity by inhibiting the tubulin polymerization which eventually causes the loss of cytoplasmic tubulin. This phenomenon causes the depletion of the glycogen stores of the parasites which is critical for its survival. Albendazole is enlisted in the World Health Organization (WHO), list of essential medicines. It needs to be taken under medical supervision as an overdose in children might result in fatal outcomes.

Market Drivers:

Increasing Prevalence of Parasitic Infections: Albendazole is a broad-spectrum anthelmintic drug used to treat a wide range of parasitic infections, including intestinal worms, such as roundworms, hookworms, and whipworms, as well as certain tissue parasites. The high prevalence of parasitic infections, particularly in developing countries, drives the demand for albendazole.

Global Efforts to Eliminate Parasitic Infections: Various global initiatives and public health programs are focused on the elimination of parasitic infections, such as soil-transmitted helminthiasis and lymphatic filariasis. Albendazole is a key drug used in mass drug administration campaigns to treat and prevent these infections. The efforts to eliminate parasitic infections contribute to the demand for albendazole.

Wide Range of Indications: Albendazole has multiple indications beyond parasitic infections. It is also used to treat other conditions, such as hydatid disease (caused by tapeworm infection), neurocysticercosis (caused by the larvae of pork tapeworm), and certain fungal infections. The broad range of indications for albendazole increases its market demand.

Affordable Treatment Option: Albendazole is a relatively affordable medication compared to other anthelmintic drugs. Its cost-effectiveness makes it a preferred treatment option, especially in low-income countries with limited healthcare resources. The affordability of albendazole contributes to its widespread use and market growth.

Increase in Animal Husbandry and Veterinary Applications: Albendazole is also widely used in veterinary medicine to treat parasitic infections in animals. The growth of the animal husbandry industry, including livestock farming and pet ownership, drives the demand for albendazole in veterinary applications. The expanding veterinary sector supports the growth of the albendazole market.

Rising Awareness of Zoonotic Infections: Zoonotic infections, which can be transmitted between animals and humans, pose a significant public health risk. Albendazole plays a vital role in controlling zoonotic infections caused by parasites, such as Echinococcus and Taenia species. The increasing awareness of zoonotic infections and their potential health implications drives the demand for albendazole.

Technological Advancements and Formulation Improvements: Ongoing research and development efforts focus on improving the formulation and delivery of albendazole to enhance its efficacy and patient compliance. Innovations such as pediatric formulations, combination therapies, and sustained-release formulations contribute to the market growth by expanding the utility and convenience of albendazole.

Government Initiatives and Healthcare Policies: Government initiatives, healthcare policies, and partnerships aimed at improving access to essential medicines and reducing the burden of parasitic infections play a significant role in driving the demand for albendazole. The inclusion of albendazole in national treatment guidelines and procurement programs supports its market growth.

Market Outlook:

Market Insights:

In the present scenario, soil-transmitted helminth infection is dominating the clinical application segment for the albendazole market. According to the latest research citings presented by the Center for Disease Control and Prevention (CDC), soil-transmitted helminth infection also called neglected tropical disease usually occurs in the warm & moist climates where there are poor civic amenities and hygiene. The Ascaris infection is reported in approximately 807-1,121 million people, whipworm is reported in 604-795 million, and hookworm is reported in 576-740 million people worldwide. Schistosomiasis is expected to register rampant market growth during the forecast period. Rapid industrialization in developing countries has resulted in tremendous water pollution which provides potent breeding grounds for schistosomiasis pathogens. According to the latest research citings provided by the World Health Organization (WHO), approximately 290.8 million people worldwide received treatment for schistosomiasis in 2018.

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Hospital pharmacy is currently spearheading the distribution channel segment for the albendazole market. Overdose associated with albendazole has fatal effects among the children population suffering from helminthic infections, hence it is mandatory for the hospital pharmacist to precisely compound the albendazole drug formulation in accordance with the physician’s prescription. Retail pharmacy has gained tremendous traction in the last 2 decades in the developing regions owing to the flourishing generic drugs market and ability to provide medicines at affordable prices.

The albendazole market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Clinical Application:

• Soil-transmitted Helminths
• Schistosomiasis
• Others

By Distribution Channel:

• Hospital Pharmacy
• Retail Pharmacy
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

The Asia Pacific is presently leading the geography segment for the albendazole market. The rising prevalence of soil-transmitted helminths infection primarily drives the albendazole market growth in the region. The tropical climate prevalent in the South East Asian countries provides a teeming growth for the spread of neglected tropical diseases. Domiciles of key players in the region such as Cadila Healthcare Limited, Cipla Limited., GlaxoSmithKline, Plc., Dr. Reddys Laboratories Ltd., etc further accentuates the albendazole market growth in the region. Latin America is the second-largest regional segment in the albendazole market. The rising prevalence of schistosomiasis infection in the rainforest region determines the albendazole market growth in the region. North America is anticipated to register the fastest market growth in the regional segment for the albendazole market. The South-Eastern region of the United States shows few cases of helminthic infections, however effective implementation of the treatment guidelines pertaining to parasitic infection drives the demand for albendazole market growth in the North American region.

Market Competition Assessment:

Some of the major players operating in the global albendazole market are Cadila Healthcare Limited., Actavis Pharma, Inc., Cipla Limited, GlaxoSmithKline, Plc., and Mankind Pharma. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Cadila Healthcare Limited
• Actavis Pharma, Inc.
• Cipla Limited
• GlaxoSmithKline, Plc.
• Genfar S.A.
• Reddys Laboratories Ltd.
• Beximco Pharmaceuticals Ltd.
• Unison Laboratories Co Ltd
• MEDLEY GENERICOS
• Mankind Pharma

Key Questions Answered by Albendazole Market Report:

• Global albendazole market forecasts from 2021-2027
• Regional albendazole market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Albendazole submarket forecasts from 2021-2027 covering the market by clinical application, by distribution channel, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to the albendazole market
• Analysis of the key factors driving and restraining the growth of the global, regional and country-level albendazole markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the albendazole market