Albendazole Drugs Market: Introduction
- Albendazole is an anthelmintic medication, also known as albendazolum. It prevents newly hatched insect larvae (worms) from growing or multiplying in the body. It is used to treat certain infections caused by worms such as pork tapeworm and dog tapeworm. Albendazole can be used in humans and animals for various indications. In animals, it is used to treat capillariasis caused by Capillaria plica (dogs and cats) and C. felis cati (cats). Capillaria infect the urinary bladder, hence are often called bladder worms. Additionally, albendazole has been used to treat Filaroides infections and Giardia infections in dogs.
- Albendazole leads to degeneration alterations in the tegument and intestinal cells of the worm by diminishing its energy production, consequently leading to immobilization and death of the parasite. It binds to the colchicine-sensitive site of tubulin, thereby inhibiting its polymerization or assembly into microtubules.
Key Drivers and Opportunities of Global Albendazole Drugs Market
- Helminthiasis, also known as worm infection, is a macroparasitic disease of humans and other animals, in which a part of the body is infected with parasitic worms, known as helminths. Rise in prevalence of helminths infections caused by roundworm, hookworm, whipworm, and others worms is projected to drive the demand for anthelmintic drugs for the treatment. This in turn is anticipated to boost the growth of the global market. For instance, in August 2018, 12 cases of Angiostrongylus cantonensis, also known as rat lungworm, were reported in the U.S. According to the CDC, 2,800 cases of Angiostrongylus cantonensis across 30 countries were reported in 2018. According to CDC estimates, 576 million to 740 million people in the world were infected with hookworm in 2019. In the U.S., the hookworm, ascaris, and whipworm infections have been eradicated and not found in the country. The above helminth infections were estimated to be prevalent only in South Eastern U.S. until the 20th century. According to the Companion Animal Parasite Council (CAPC), estimated roundworm and hookworm infection in dogs was 141,166 and 238,947; in cats it was 65,316 and 10,832, respectively, in 2019.
- Rise in awareness about veterinary care increases the level of control and care of animals. This leads to an increase in number of animals. Moreover, changes in veterinary education over the last few decades have placed greater emphasis on animal welfare, owing to rise in awareness about animal health care. Hence, increase in awareness about veterinary care is likely boost the growth of the global market.
- Government and private sector organizations are engaged in spreading awareness about the importance of animal care. For instance, the American Animal Hospital Association is a non-profit organization for companion animal veterinary hospitals. It is an accrediting body for small animal hospitals in the U.S. and Canada. Hence, rise in awareness about veterinary care and government initiatives are likely augment the global market.
- Developing countries present lucrative opportunities in the albendazole drugs market, as the prevalence of helminthic infection is high in developing regions such as Asia, Africa, and Latin America. Moreover, modernization toward improving health care infrastructure is likely to create opportunities in the market.
North America to Capture Major Share of Global Albendazole Drugs Market
- North America is projected to account for major share of the global albendazole drugs market due to focus on research & development by key players. For instance, the U.S. Food and Drug Administration has approved Cipla’s Abbreviated New Drug Application for Albendazole Tablets.
- The albendazole drugs market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to increase in awareness and rise in prevalence of helminthic infection
Key Players Operating in Global Albendazole Drugs Market
The global albendazole drugs market is highly consolidated due to the presence of small number of key players. These players hold major market share in their respective regions. Demand for anthelmintic products has increased in emerging as well as developed markets. For instance, GlaxoSmithKline plc donated 9 billion Albendazole tablets to the WHO, with 890 million alone donated by 2019. This drug is likely to tackle and eradicate lymphatic filariasis (LF) and intestinal worms (soil-transmitted helminths) disease. The company plans to offer Albendazole tablets until the eradication of neglected tropical diseases (NTDs) in developing countries. Growth strategies adopted by leading players are likely to drive the global market.
Major players operating in the global albendazole drugs market are:
- GlaxoSmithKline plc
- CiplaMed (Cipla)
- Amneal Pharmaceuticals LLC
- Ben Pharmaceuticals
- Healthy Life Pharma Private Limited
Global Albendazole Drugs Market: Research Scope
Global Albendazole Drugs Market, by Target Pathogen
Global Albendazole Drugs Market, by Application
Global Albendazole Drugs Market, by Indication
- Cystic hydatid disease
Global Albendazole Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Veterinary Clinics
Global Albendazole Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.