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.
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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.
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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.
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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
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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)
- Lupin
- Amneal Pharmaceuticals LLC
- Ben Pharmaceuticals
- Healthy Life Pharma Private Limited
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