IMARC Group, a leading market research company, has recently releases report titled “Artemisinic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global artemisinic acid market size, share, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the artemisinic acid market?
The global artemisinic acid market size reached US$ 729.78 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,043.42 Million by 2032, exhibiting a growth rate (CAGR) of 4.05% during 2024-2032.
Factors Affecting the Growth of the Artemisinic Acid Industry:
- Technological Advancements in Synthesis and Extraction:
The growth of the artemisinic acid market is significantly influenced by technological advancements in the synthesis and extraction processes. Innovations in biotechnological methods, such as the use of engineered yeast and bacteria, have enhanced the efficiency and sustainability of producing artemisinic acid, which is a precursor to antimalarial drugs like artemisinin. These advancements not only improve yield and reduce costs but also ensure a stable supply of artemisinic acid, independent of agricultural variables. As research continues to optimize these biotechnological approaches, the market is expected to see a positive impact on production capabilities and cost-effectiveness, catering to the growing demand for antimalarial treatments.
- Global Health Initiatives and Funding:
The global fight against malaria plays a critical role in driving the demand for artemisinic acid. International health organizations and governments have ramped up efforts to combat malaria, leading to increased funding for research and development of effective antimalarial drugs. Artemisinic acid, being a vital component in the synthesis of artemisinin-based combination therapies (ACTs), benefits directly from these initiatives. Funding and support from global health initiatives not only boost the production of artemisinic acid but also facilitate access to these life-saving treatments in malaria-endemic regions. The commitment to eradicating malaria globally thus directly correlates with the growth of the artemisinic acid market.
- Regulatory and Market Access Challenges:
While the demand for artemisinic acid is on the rise, regulatory and market access challenges pose significant hurdles to its growth. The stringent regulatory environments in various countries can delay the approval processes for new extraction methods or biotechnological innovations, impacting the market's ability to meet urgent demands quickly. Additionally, trade restrictions and intellectual property rights issues can limit the distribution of artemisinic acid and its derivatives, affecting the global supply chain. Overcoming these challenges requires ongoing dialogue between industry stakeholders, regulatory bodies, and international organizations to streamline approval processes and ensure fair market access, thereby supporting the market's growth potential.
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Artemisinic Acid Market Report Segmentation:
Breakup By Type:
- Antimalarial Injections
- Antimalarial Tablets
Antimalarial tablets represented the largest segment due to their widespread use, affordability, and ease of administration in malaria-endemic regions.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Middle East and Africa emerged as the largest market owing to the high prevalence of malaria and the resultant high demand for antimalarial treatments in these areas.
Global Artemisinic Acid Market Trends:
The market growth of artemisinic acid, a precursor in the synthesis of the antimalarial drug artemisinin, is primarily driven by the global demand for effective malaria treatments. The increasing incidence of malaria, particularly in developing countries, necessitates the production of artemisinin-based therapies, boosting the demand for artemisinic acid. Additionally, advancements in biotechnological methods for artemisinic acid production, such as engineered yeast strains, have significantly increased yield and reduced costs, making the production process more efficient and sustainable. Furthermore, the growing interest in artemisinin's potential anti-cancer properties has expanded research and development efforts, further propelling the market growth of artemisinic acid.
Some of these key players include:
- AdvaCare Pharma
- Guilin pharmaceutical Co.Ltd. (Shanghai Fosun Pharmaceutical Co., Ltd)
- KPC Pharmaceuticals Inc.
- Novartis AG
- Rupus Global Limited
- Shin Poong Pharm Co. Ltd.
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