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.
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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.
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- 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.
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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.
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