What is Albendazole Market?
Albendazole is an anti-worm or anthelmintic medication. It is used to prevent newly hatched insect larvae (worms) from growing or multiplying in the human body. Albendazole is used to treat certain infections caused by worms such as dog tapeworm and pork tapeworm. Albendazole is also used along with surgery to treat cystic hydatid disease, this has led to significant growth of the global albendazole market in the forecast period.
The market study is being classified by Type (Capsule and Tablet), by Application (Flatworms, Nematodes, Giardiasis, Microsporidiosis, Granulomatous Amoebic Encephalitis, Arthropods and Others) and major geographies with country level break-up.
Pfizer (United States), Bayer AG (Germany), Merck & Co., Inc. (United States), Provet (Switzerland), Virbac (India), Cipla (India), Novartis AG (Switzerland), CIRON Drugs & Pharmaceuticals Pvt. Ltd. (India), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott (United States) and Arsanis, Inc. (Austria) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Novabiotics (United Kingdom), GlaxoSmithKline plc. (United Kingdom), Teva Pharmaceutical Industries Ltd (Taiwan) and Lupin Limited (India).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European and Asian Players will contribute to the maximum growth of Global Albendazole market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Albendazole market by Type, Application and Region.
On the basis of geography, the market of Albendazole has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Incidence of Clonorchis Infections in Asia Pacific Region
- Increased Number of Diagnostic Centres
Market Trend
- Technological Advancements in Medical Science
- Increased Number of Online Pharmacies
Restraints
- Stringent Government Rules and Regulations
Opportunities
- Development in Healthcare Infrastructure in Developing Regions
Challenges
- Various Side Effects like Headache, Neck Stiffness, Increased Sensitivity to Light, Confusion, Fever, and Many Others
On 11th June 2020, Lupin Limited has announced that it has received approval for its Albendazole Tablets USP, 200 mg, from the United States Food and Drug Administration (U.S. FDA), to market a generic equivalent of Albenza® Tablets, 200 mg, of Impax Laboratories Inc.
Key Target Audience
Albendazole Manufacturers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others