Global Ivermectin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Ivermectin Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Ivermectin market finds that the global Ivermectin market reached a value of USD 293.95 million in 2022. It’s expected that the market will achieve USD 398.46 million by 2028, exhibiting a CAGR of 5.2% during the forecast period.

Market Drivers

Rise in prevalence of parasitic infections such as ascariasis, lymphatic filariasis, and river blindness in animals is anticipated to propel the global ivermectin 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.
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 United States 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 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 market during the forecast period.

Market Constraints and Challenges

Ivermectin is currently one of the best broad-spectrum antiparasitic drugs in the world. It has the advantages of broad-spectrum, high efficiency, small dosage, and safety. It is particularly effective against parasites in vivo and in vitro. With the increasing use of ivermectin, its toxicity to aquatic organisms, especially benthic organisms, has attracted people's attention. Ivermectin has been transformed from a veterinary drug to a fishery drug and is widely used in aquaculture, showing a certain application prospect, but there are still many problems to be studied in depth: the pharmacokinetic characteristics of Ivermectin in cultured fish; The drug residues of ivermectin in cultured fish and the drug withdrawal period necessary to ensure the safety of aquatic products. These problems may limit the development of the ivermectin market to a certain extent.
Ivermectin is an anthelmintic commonly used by farmers in recent years. This medicine can be taken orally or injected. Ivermectin is easy to use, safe, and highly effective, and it has the effect of preventing and controlling parasites in and out of animals. The disadvantage of ivermectin is that it has no control effect on tapeworms in animals. If ivermectin is used for long-term deworming of animals, it is easy to cause tapeworm infection and mass reproduction in the body. Therefore, it is necessary to select appropriate drugs for anthelmintics according to the types of parasites. For example, praziquantel or niclosamide should be used to drive tapeworms; Ivermectin should be used to drive nematodes and ectoparasites. This shortcoming hinders the development of the ivermectin market to a certain extent.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview

MERCK is one of the major players operating in the Ivermectin market, holding a share of 38.75% in 2020.

Merck & Co., Inc. engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.

Hebei Veyong Pharmaceutical Co., Ltd was established in 2002 and is located in Shijiazhuang Economic and Technological Development Zone. It is a large-scale veterinary company with GMP certificate, engaged in research and development, production and sales of veterinary drug raw materials and preparations in China.

Segmentation Overview:

By type, Liquid segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Cow segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Ivermectin market covered in Chapter 3:

MERCK
Hebei Veyong Pharmaceutical Co., Ltd
Zhejiang Hisun Pharmaceutical
Hovione
Shandong Qilu King-Phar Pharmaceutical
SAMEX OVERSEAS
Hangzhou Think Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the Ivermectin market from 2018 to 2029 is primarily split into:

Solid
Liquid

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Ivermectin market from 2018 to 2029 covers:

Cow
Sheep
Pig
Poultry
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)