Global Artemisinin Combination Therapy Market Size

Artemisinin Combination Therapy Market Analysis

Over the next few years, the market for artemisinin combination therapy is expected to grow at a CAGR of 8.31%.

The COVID-19 pandemic had a significant impact on the artemisinin combination therapy market. For instance, an article published by the National Center for Biotechnology Information (NCBI) in October 2021 reported that children and pregnant women were bearing a disproportionate burden of excess malaria mortality arising from COVID-19-related disruption of health systems and malaria control programs, particularly in sub-Saharan Africa. This was primarily because the COVID-19 pandemic was disrupting malaria diagnosis, as both diseases share some symptoms. It is because of these factors that the artemisinin combination therapy market was expected to be affected during the COVID-19 pandemic. In the current scenario, due to the availability of better diagnoses and vaccines for COVID-19 treatment, the artemisinin combination therapy may be used for malaria treatment, and the market is expected to witness significant growth over the forecast period.

The studied market is growing because there is a lot of malaria in developing and underdeveloped countries, governments are trying to raise awareness, and more research is being done to find new drugs and new ways to use old ones.For instance, the data published by the World Malaria Report in 2022 reported that the following regions showed an increase in malaria cases in 2021: Comoros (56.9%), Costa Rica (52.4%), the Democratic People's Republic of Korea (22.8%), Ecuador (11.1%), Eswatini (53.9%), French Guyana (2.1%), Guatemala (16.9%), Honduras (47.4%), Panama (55.3%), and Sao Tome and Principe (28.9%). According to the source, the number of malaria-endemic countries with fewer than 1000 indigenous malaria cases increased from 33 in 2020 to 35 in 2021.Thus, a high number of malaria cases is driving the growth of the studied market.

Additionally, awareness programs and other government initiatives are other factors that propel market growth. For instance, in July 2022, the Ministry of Health and Family Welfare of India launched Jan Abhiyaans with log bhagidari (people's participation) to enthuse and engage citizens and communities to ensure that their homes, premises, and neighborhoods are free of mosquitoes. Similarly, in July 2021, WHO launched the E-2025 initiative to support 25 countries and one territory identified as having the capacity to eliminate malaria by 2025. Thus, such initiatives are likely to increase market growth.

Furthermore, clinical trials for the introduction of new drugs are propelling the growth of the studied market.For instance, in November 2022, Novartis and Medicines for Malaria Venture (MMV) reported plans to advance a ganaplacide/lumefantrine solid dispersion formulation (SDF) into a Phase III clinical trial to treat individuals with acute, uncomplicated malaria caused by Plasmodium falciparum. Thus, such studies are contributing to the studied market's growth.

Thus, due to the high prevalence of malaria in developing and underdeveloped countries, awareness initiatives undertaken by the governments, and increasing research for new drugs and new combination therapies, the market is expected to witness significant growth over the forecast period. However, the side effects of antimalarial drugs and the presence of counterfeit and substandard drugs are restraining the growth of this market.