Ivermectin Drugs Market: Introduction
- Ivermectin drugs belong to the anthelmintic drug class. These are widely used in the treatment of parasitic roundworm infections. The drugs are used to kill parasites, and thereby improve the quality of life of patients. Ivermectin is also recommended for the treatment of river blindness (onchocerciasis) and diarrhea (strongyloidiasis). It paralyzes and kills the offspring, thereby slowing down the rate of adult worm reproduction, which results in minimal presence of worms in skin, blood, and eyes. Other parasitic infections treated with ivermectin are scabies, trichuriasis, lymphatic filariasis, and ascariasis. Ivermectin drugs are used for both human and veterinary use.
- Ivermectin is widely available and usually administered orally or though injection. It is used to treat various parasitic infections for 3 to 6 months. Side effects of ivermectin include minor complications such as dizziness, loss of appetite, diarrhea, constipation, and sleepiness. Additionally, research is underway to study ivermectin as a potential candidate for treatment of SARS-CoV-2/COVID-19. According to the WHO, 1.5 billion people were suffering from soil-transmitted helminth infections as of March 2020, which accounted for 24% of the world’s population. Hookworm, Ascaris, and whipworm accounted for the largest soil-transmitted helminth burden across the globe. These factors are projected to drive the market in the next few years.
Key Drivers and Restraints of Global Ivermectin Drugs Market
- Rise in prevalence of parasitic infections such as ascariasis, lymphatic filariasis, and river blindness in humans and animals is anticipated to propel the global ivermectin drugs market during the forecast period. According to NCBI, in 2019, prevalence of roundworms in dogs ranged from 1.8% to 5.0%, hookworm infection was estimated to be around 2.5% to 4.5%, and whipworm infection was reported to be around 0.8% to 1.2%. These factors are expected to boost the need of anthelmintic drugs for the treatment of the above infections. .
- According to NCBI research published in May 2020, ivermectin has antiviral potential to inhibit virus action. This could be a major breakthrough if approved by the U.S. FDA based on clinical trials. Some scientists claim that ivermectin could kill the SARS-CoV-2-virus within 48 hours; however, more data needs to be published to support the claim. These factors are likely to augment the global ivermectin drugs market in next few years. Ivermectin is also widely used and available as an effective in vitro treatment against HIV, dengue, Zika virus, and others. This is projected to boost the global ivermectin drugs market during the forecast period. Rise in prevalence of ascariasis is another factor driving the need of ivermectin drugs. According to CDC estimates, in 2019, 807 million to 1,221 million people across the world were infected by Ascaris and around 604 million to 795 million are likely to suffer from whipworm globally.
Europe to Lead Global Ivermectin Drugs Market
- In terms of region, the global ivermectin drugs market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is projected to dominate the global ivermectin drugs market, followed by Asia Pacific, owing to the presence of key veterinary as well as human anthelmintic drug manufacturers, large veterinary market in EU5 countries, and high awareness about veterinary animal health. Moreover, increase in incidence of roundworm infections among children and poultry is anticipated to augment the ivermectin drugs market in Europe.
- The market in North America is expected to grow at a moderate pace during the forecast period. This is attributed to rise in prevalence of parasitic infections in both animals and humans across the region. Moreover, strong antiviral effect of ivermectin against a number of parasitic diseases in pets and increase in pet ownership is expected to propel the market in the region. According to the American Heartworm Society’s (AHS) incidence survey, in 2016, the average number of dogs suffering from heartworm infection stood at around 21.7% in the U.S. Moreover, ongoing research & development related to usage of ivermectin in the treatment of COVID-19 and availability of ivermectin drugs for various parasitic infections are the other factors driving the ivermectin drugs market in the region.
- Key Players Operating in Global Ivermectin Drugs Market
The global ivermectin drugs market is fragmented, owing to the presence a number of large and mid-size players. Major players operating in the global ivermectin drugs market are:
- Novartis AG
- Intas Pharmaceuticals
- Boehringer Ingelheim International GmbH
- Cipla, Inc.
- Janssen Pharmaceuticals, Inc. (Johnson & Johnson)
- Sun Pharmaceutical Industries Ltd.
- GlaxoSmithKline plc
- Merck & Co., Inc.
- Bayer AG
- Other Prominent Players
Global Ivermectin Drugs Market: Research Scope
Global Ivermectin Drugs Market, by Route of Administration
Global Ivermectin Drugs Market, by Indication
- Intestinal Parasites Disease
- lymphatic Filariasis
Global Ivermectin Drugs Market, by Application
- Human Use
- Veterinary Use
Global Ivermectin Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Veterinary Pharmacies
- Veterinary Hospitals & Clinics
Global Ivermectin 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.