Albendazole is a potent anthelmintic that is used for the treatment of parasitic worm infestation occurring in both the children and the adult population. It needs to be taken under medical supervision in order to prevent severe drug-related adverse events such as headache, nausea, vomiting, abdominal pains, etc.
Currently, the soil-transmitted helminths infection is reigning the clinical application segment for the albendazole market. According to the latest research citings presented by the Center for Disease Control and Prevention (CDC), approximately 2 billion people throughout the globe are suffering from soil-transmitted helminths infection. The different types of soil-transmitted helminths infection occurring worldwide are Ascaris, whipworm, and hookworm, which usually occur in the countries favoring tropical climate. Schistosomiasis will be registering excellent market growth in the near future owing to the key factor such as a significant increase in water population in developing countries due to rapid urbanization. It is also called bilharzia, usually found in the contaminated waters, the most common infections caused in human beings are due to S. japonicum, S. haematobium and S. mansoni etc. According to the latest research citings provided by the World Health Organization (WHO), approximately 290.8 million people worldwide received treatment for schistosomiasis in 2018.
Browse the full report Albendazole Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2027 at https://www.atlanticmarketresearch.com/albendazole-market
Hospital pharmacy is presently leading the distribution channel segment for the albendazole market. The drug posology for albendazole varies for children and adult, hence it becomes imperative for accurate drug compounding by the hospital pharmacist to prevent the occurrence of any side effects due to drug overdose. Retail pharmacy is anticipated to be the fastest-growing distribution channel segment on account of the existence of a well-developed generic drug market and the ability to provide cheap medicines to patients residing in remote locations.
Asia Pacific is presently dominating the geography segment for the albendazole market. Significant increase in the number of children and women suffering from schistosomiasis infection primarily drives the albendazole market growth in the region. The moist and humid climate present in the south Asian countries favors the spread of neglected tropical diseases. Presence of major players in the region such as Cadila Healthcare Limited, Cipla Limited., GlaxoSmithKline, Plc. Dr. Reddys Laboratories Ltd. etc further propel the albendazole market growth in the region. Latin America is in the second position in the regional segment for the albendazole market. The rising prevalence of genital schistosomiasis infection in the women population determines the albendazole market growth in the region. North America is expected to record rampant market growth during the forecast period. The supportive regulatory environment provided by the USFDA and favorable reimbursement scenario together drive the albendazole market growth in the region.
Pharmaceutical manufacturers actively engaged in the production of albendazole are Cadila Healthcare Limited, Actavis Pharma, Inc., Cipla Limited, GlaxoSmithKline, Plc. Genfar S.A., Dr. Reddys Laboratories Ltd., Beximco Pharmaceuticals Ltd., Unison Laboratories Co Ltd, MEDLEY GENERICOS, and Mankind Pharma.
Market Key Takeaways:
- Rising prevalence of soli-transmitted helminths infection in tropical countries
- Significant increase in the number of children and women suffering from schistosomiasis infection worldwide
- Effective implementation of treatment guidelines pertaining to helminths infection will further accentuate the albendazole market growth
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