Artemisinic Acid Market Size, Share & Trends Analysis Report By Type (Antimalarial Injections, Antimalarial Tablets), By Region, And Segment Forecasts, 2023 - 2030

Artemisinic Acid Market Size, Share & Trends Analysis Report By Type (Antimalarial Injections, Antimalarial Tablets), By Region, And Segment Forecasts, 2023 - 2030

Artemisinic Acid Market Growth & Trends

The global artemisinic acid market size is expected to reach USD 975.05 million by 2030, expanding at 4.24% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the high burden of malaria in underdeveloped and developing economies, a large number of research studies concerning Malaria, and initiatives by public organizations such as the WHO, UNICEF, and others. These organizations are committed to controlling the incidences of malaria globally by creating awareness about malaria treatment.

Developing and underdeveloped economies suffer from a high burden of malaria. For instance, as per UNICEF, malaria is a major cause of death among children in Africa. The WHO states that 95% of total malaria cases were reported in Africa region. The high burden of diseases in this region is expected to boost the demand for artemisinic acid, especially in these regions, and thus boost the market.

Public organizations globally are trying to reduce the incidence of malaria by improving access to detection, treatment, and prevention of the disease. Moreover, organizations such as WHO, UNICEF, the government organization are actively involved in raising awareness about malaria treatment to reduce the spread of the infection. This is expected to improve the demand for artemisinic acid during the forecast period.

The Global Fund states that there was a fall in malaria diagnosis and treatment in 2020 as compared to the previous year. This is because the majority of diagnosis was done for testing COVID-19. This initially hampered the market of artemisinic acid. However, World Malaria Report states that malaria incidences totaled 247 million in 2021, whereas in 2020, the figure stood at 245 million. The increase in the incidence of malaria is expected to boost the demand for malaria treatments and boost the market in the post-pandemic period.

Artemisinic Acid Market Report Highlights

• The antimalarial tablet segment is expected to grow at the fastest rate of 4.26% CAGR, owing to the high preference for tablet formulation as it provides ease of administration and does not rely on professional assistance
• Asia Pacific region is expected to grow at a rate of 4.13% CAGR over the forecast owing to the surge in the number of initiatives by the public organization to increase awareness about malaria treatments
• MEA region held the largest share of 56.89% in 2022, owing to the high burden of malaria in the region, thus contributing to the demand for treatment

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