Ivermectin Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Ivermectin Market Overview:
Ivermectin is a beneficial and safe antiparasitic drug used to treat various parasitic diseases found in humans and animals. In animals, it is commonly used to treat parasitic or other bacterial infections in animal species such as dogs, goats, sheep, etc. Ivermectin is usually available in various forms such as tablet, liquid, or topical application.
Ivermectin market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Ivermectin market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In January 2022, Galderma acquired ELASTIN Skincare to expand into the manufacture of beauty and skincare products to develop dermatologically certified products. The move will allow the company to attract more consumer interest in bringing Galderma's innovations to the growing skincare market.
- Additionally, in August 2021, Arbor Pharmaceuticals entered into a merger agreement with Azurity Pharmaceuticals to develop unique antidotes related to cardiovascular and endocrine diseases. The combined entity aims to accelerate the pace of development in the areas of drug production and innovation.
Major Segments Covered in the Global Ivermectin Market:
Market Key Players:
Hero Pharmaceutical, MERCK, HuBei YuanCheng SaiChuang, ENN, LAND, And Others.
Ivermectin Market by Types:
- Injection, Powder, Others
Ivermectin Market by Applications:
- Cow, Sheep, Pig, Poultry, Others
Ivermectin Market by Regions:
The report estimates revenue growth at the worldwide, regional, and country levels and delivers an analysis of the recent industry trends in each sub-segment from 2017 to 2030.
The Europe region is expected to witness a stable revenue CAGR during the forecast period, attributed to research and development, clinical research, and large biochemical and pharmaceutical companies. Merck is a major manufacturer of the drug under the brand name Stromectol and is headquartered in Germany. Furthermore, the pharmaceutical industry is the best-performing technology sector in Europe. According to the European Federation of Pharmaceutical Industries and Associations, the European Union invested around $40.79 billion in R&D in 2020 due to its strong focus on R&D. Other manufacturers such as Galderma (Switzerland) and Boehringer Ingelheim (Germany) lead the ivermectin market revenue growth.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
The latest research from 2021 shows that IVM is not an effective drug for treating COVID-19. Despite the drug's massive use following the 2020 pandemic, recent studies regarding its ineffectiveness against COVID-19 are restraining factors for the growth of the drug market.
Since 2021, comparative studies have been increasing proving its ineffectiveness as a treatment for COVID-19. Therefore, ivermectin is controversial in medicine. For example, a study conducted in Malaysia between May 2021 and October 2021 reported no statistically significant difference between vaccinated and unvaccinated COVID-19 patients in the 20 public hospitals where the study was conducted. result. Additionally, the U.S. Food and Drug Administration (FDA) has stated that IVM products are not approved for the treatment of COVID-19. Reports of ivermectin overdose and abuse have also increased. The NIH also urges medical professionals not to use it for purposes other than parasitic diseases. Therefore, treatments using it are unauthorized.
Since it is a veterinary detoxifier, it is beneficial for animals raised in large numbers in barns. Therefore, the livestock industry uses it to prevent parasitic diseases in animals and cattle raised for the meat industry.
Considering the contrary opinions about the treatment of drugs ingested by humans, the drug is very effective in the treatment of parasitic diseases in animals. With growing awareness about animal care and pet health, veterinary use of IVMs is a great opportunity. Sheep, pigs, horses, and goats can be safely treated with drugs against gastrointestinal and pulmonary worms. With the rise of animal farming and meat processing industries, such veterinary antidotes are being implemented on a large scale owing to their inexpensive nature, which is a key factor to increase the market revenue in the future. For example, the World Bank's World Livestock Index is thought to have been growing since 1961, except for rare cases of lockdowns during pandemics.
Report Scope of Global Ivermectin Market:
CAGR of 0% from 2022 to 2030.
Injection, Powder, Others
Cow, Sheep, Pig, Poultry, Others
Hero Pharmaceutical, MERCK, HuBei YuanCheng SaiChuang, ENN, LAND
Regions and Countries Covered
2017 to 2022
2022 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Ivermectin market?
The Ivermectin Market is growing at a CAGR of 0% During Forecast Period.
What are the key types and applications of Ivermectin market?
- Injection, Powder, Others
- Cow, Sheep, Pig, Poultry, Others
Who are the key players in Ivermectin market?
Hero Pharmaceutical, MERCK, HuBei YuanCheng SaiChuang, ENN, LAND, And others.
Any special requirements about this report, please let us know and we can provide a custom report.
Note – In order to provide a more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.