Artemisinin Market Size, Share, Growth, and Industry Analysis by Type (Extraction from Artemisia Annua and Semisynthetic Artemisinin) By Application (Antimalarial Injections and Antimalarial Tablets), Regional Forecast To 2031

Updated On: 01 April 2024

Artemisinin Market REPORT OVERVIEW

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The global artemisinin market size was USD 64 million in 2021 and is projected to touch USD 367.28 million by 2031, exhibiting a CAGR of 19.1% during the forecast period.

Artemisinin is a type of medication used to treat malaria caused by plasmodium in humans. It is a plant derivative derived from Artemisia annua, often known as sweet wormwood, that has been shown to effectively and quickly reduce the quantity of Plasmodium parasites in malaria patients' blood. It is extracted from the plant and can be made with yeast that is more efficient than the plant.

The demand has grown dramatically in recent years as the World Health Organization (WHO) has recognized artemisinin-based combination therapy (ACT) as a first-line treatment for malaria. The market has been growing as the prevalence of malaria in emerging countries has increased. Because of its expanding use in pharmaceutical manufacture, the worldwide artemisinin market is predicted to grow significantly.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth

The COVID-19 pandemic halted all business activities and caused the overall GDP growth rate to slow. The pandemic had a significant influence on all industries, and the closure of large industrial divisions slowed the market's growth. Whereas, the medical industry saw an increase in demand. The ongoing COVID-19 pandemic has recently cast a positive light on India's pharmaceutical industry, while also exposing its flaws. The Indian pharmaceutical industry is currently generating headlines for all the right reasons, as it can export millions of doses of an antimalarial to cure the coronavirus and has had some success in rehabilitating patients in countries such as the U.S. and Brazil.

LATEST TRENDS

"Technological Advancements to Boost Market Growth"

The demand for artemisinin and its derivatives has been spurred by a surge in R&D activities and rising medical infrastructure, especially in emerging nations such as China and India. The rising demand from malaria-endemic nations like Congo, Nigeria, Tanzania, and Uganda, and other South-East Asian countries such as India, is expected to boost the market and its derivatives during the forecast period. However, because of the small number of global manufacturers, the market is still in its early phases. Other factors, including increased government awareness campaigns and research for innovative anti-malarial medications and therapies, are also contributing to the market's growth.

Artemisinin Market Segmentation

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• By Type Analysis

As per type, the market is classified into Extraction from Artemisia Annua and Semisynthetic Artemisinin.

• By Application Analysis

Based on application, the market is categorized into Antimalarial Injections and Antimalarial Tablets.

DRIVING FACTORS

"New Technological Improvements to Facilitate Market Development"

The increasing success in reducing the global malaria problem is due to increased access to ACTs in malaria-endemic nations. The global artemisinin market is expected to expand due to a strong pipeline of novel anti-malarial medications in development and the introduction of newer combinations for the treatment of malaria.

"Growing malaria endemic to Foster Industry Progress"

Malaria is one of the world's most debilitating diseases. The global malaria epidemic is worsening, and climate change is expected to exacerbate the problem. Malaria is a major health concern in endemic countries such as Sudan, is at the risk of acquiring the disease. Moreover, the widespread presence of chloroquine-resistant strains of P. falciparum in malaria endemic countries makes combination therapy the preferred choice of treatment. This is projected to fuel the artemisinin market growth.

RESTRAINING FACTORS

"Side Effects to Hinder Market Progress "

Anti-malarial drug side effects, and prevalence of counterfeit and substandard drugs, are limiting the market's growth. The global market is likely to be restrained by challenges related to the availability of intermediate goods and raw materials in the production of artemisinin-based combination therapies derived from agricultural sources. In addition, market growth is likely to be hampered by a lack of finance and programmatic uncertainties, and a demand-supply mismatch, over the projection period.

Artemisinin Market REGIONAL INSIGHTS

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"Increasing Number of Production Units to Propel Market Progress in Asia Pacific"

Asia Pacific and Africa held the largest artemisinin market share and its derivatives due to the vast supply of artemisinin plants and the growing need for ACTs in malaria-endemic areas

North America held the second-largest market followed by Europe on account of the well-developed medical industry coupled with a large number of pharmaceutical units.

The Middle East and Africa held the largest share in the artemisinin market. The presence of a large production base of artemisinin herbs and rising demand in malaria endemic countries are contributing to the growth of the market in MEA. Though African countries, where the incidence of malaria is the highest, have increased malaria control strategies, effective treatment, and control, it still presents a huge logistical difficulty. As several at-risk people live in extreme poverty in remote areas, WHO and other organizations are working on completely eradicating it in Africa, and thus, over the coming years, the adoption rate of ACT is further expected to increase.

KEY INDUSTRY PLAYERS

"Incorporation of Research and Development Strategies to Improve their Brand Image"

Major players are pursuing a variety of marketing tactics, including geographic expansion, research and development, new product development, and indication expansion. The majority of the medications are produced by global powerhouses. Industry leaders have built their position in the market by investing more in research and having a better distribution system.

INDUSTRY DEVELOPMENT

Sanofi, a leading pharmaceutical company, is engaged in the manufacturing of prescription pharmaceuticals and vaccines. It is engaged in the development of cardiovascular, metabolic disorder, central nervous system (CNS), oncology, and thrombosis drugs and medicines.

List of Market Players Profiled

• Sanofi (France)
• KPC Pharmaceuticals (China)
• Kerui Nanhai (China)
• Guangxi xiancaotang (China)
• Guilin Pharmaceutical (China)
• Natural Bio-Engineering (U.K.)
• BIONEXX (Madagascar)
• CAT KHANH (Thailand)
• Beepz (U.S.)
• Novanat Bioresource (China)

REPORT COVERAGE

The research begins with a summary of the global market for mitomycin. The executive summary contains key facts and figures about the global market. The next section of the research focuses on macroeconomic, demand, and supply drivers, restrictions, and major trends. The study includes an impact analysis of weighted average model-based growth drivers to provide clients with superior decision-making insights.