Global Urge for Coronavirus Drugs Sees Antimalarial Drugs Market Booms

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The global urge for finding and testing coronavirus drugs has sparked the rapid growth of the antimalarial drugs market worldwide in the early 2020. As the coronavirus pandemic continues to spread around the globe and driving total death toll surpassing 130,000 by the mid of April, there has been a surge in global demand for chloroquine, a common type of antimalarial drug that allegedly has some positive results in treating coronavirus patients, despite a lack of solid scientific evidence that they directly work against the Covid-19 virus. As a result, the global antimalarial drugs market is expected to witness rising demand and increasing R&Ds that will drive the market growth in the near future.

What are Antimalarial Drugs?

Antimalarial drugs are used for the treatment and prevention of malaria infection – which is an infectious disease caused by parasites with symptoms such as fever, tiredness, vomiting, and headache. Antimalarial drugs can target the erythrocytic stage of malaria infection and effectively relieve the symptoms. Today’s antimalarial therapy not only reduces the illness and mortality of malaria, but also decreases the peril of resistance to antimalarial drugs. Some of the major types of antimalarial available in the market for the treatment of malarial infection include chloroquine, quinine, proguanil, mefloquine, pyrimethamine, and others.

Can Antimalarial Drugs Treat Coronavirus?

During the recent coronavirus pandemic, antimalarial drugs have been once again brought under the spotlight as some medical research suggested that two common types of antimalarial drug – chloroquine and hydroxychloroquine – might have some positive results in treating the coronavirus patients. An early study suggested chloroquine could be helpful as it showed the ability to block coronaviruses from infecting cells in vitro but it was carried out on small numbers of patients and without the rigour of a randomised control trial. Larger trials — including one in New York and a multinational programme run by the World Health Organization — are just starting.

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Another antimalarial drug – hydroxychloroquine also gained a huge attention following a controversial, small study of about 40 patients hospitalized with Covid-19 in France. In that study, the drug appeared to help clear the virus from patients’ bodies, based on samples taken from nasal swabs, although some experts have questioned the definitiveness of the study. Some researchers believe hydroxychloroquine may have antiviral and anti-inflammatory properties that might suppress virus replication while also avoiding the body mounting an excessive immune response that could cause further damage to the lungs.

Currently, hospitals and consumers in the U.S. have started stockpiling these drugs. China, Europe and South Korea recommend them as one of several treatments for Covid-19 patients, while India itself advocates health-care workers take the drug regularly as a preventive measure.

According the a recent study published on ScienceDirect, It’s possible that chloroquine can help activate the immune response in the coronavirus treatment, but the direct effectiveness of chloroquine in treating the coronavirus still yet to be confirmed.

Although, a growing number of medical labs around the world are now investigating these antimalarial drugs and testing them in the early stage of clinical trials in the U.S., France and China, but there is still lack of solid evidence and consensus about whether these antimalarial drugs are safe and effective for treating COVID-19. The researchers concluded that additional studies using larger numbers of patients are needed to fully investigate the antimalarial drugs’ risks and benefits when treating the coronavirus.

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Global Antimalarial Drugs Market Overview

Considering the recent coronavirus impact around the world, the latest market research report from Technavio suggests that the global antimalarial drugs market size will grow by US$ 310.75 million from 2020 to 2024, representing an impressive CAGR of over 6% during the forecast period The major factor that drives the growth of the antimalarial drugs market include the availability of strong funding to eradicate malaria and the rise in prevalence of malaria in developing countries. Furthermore, growth in awareness initiatives by governments and surge in research for new antimalarial drugs are also some of the factors that will boost the growth of the market in the near future.

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Techanivo reports that there is increased funding for malaria treatment and prevention as it is placed high on the eradication list of the World Health Organization (WHO). The highest prevalence of malaria in African countries can be attributed to the poor level of sanitation and the underdeveloped healthcare system. This has induced several government and non-government organizations to work toward the eradication of the disease, driving the global antimalarial drugs market growth.

The emergence of enhanced POC diagnostics and biomarkers for malaria, one of the vital antimalarial medicines market trends, will also drive the growth of this market during the forecast period. Because of the highly adaptable nature of the Anopheles mosquitos and the Plasmodium species, it is challenging to control malaria. Diagnostics and biomarkers are necessary for the potential control and management of malaria. These diagnostics and biomarkers help in diagnosing the disease leading to timely treatment. The robust funding to eradicate malaria, coupled with enhanced POC diagnostics and biomarkers, will drive anti-malarial medicines market growth at a CAGR of almost 6% during the forecast period.

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Frequently Asked Questions in the Global Antimalarial Drugs Market:

What is the current global antimalarial drugs market size?

What is the impact of coronavirus pandemic on the global antimalarial drugs market?

What are the major challenges in the global antimalarial drugs market?

Who are the top antimalarial drugs companies in the world?

What are the antimalarial drugs market trends?

What are the factors influencing the market shares of the Americas, APAC, EMEA?

All the detailed answers can be found in the following market report: