Artemisinic Acid Market (By Type: Antimalarial Injections, Antimalarial Tablets) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global artemisinic acid market size was estimated at around USD 699.2 million in 2022 and it is projected to hit around USD 1,061.15 million by 2032, growing at a CAGR of 4.26% from 2023 to 2032.

Key Pointers

• The antimalarial tablets segment led the market with the highest revenue share of 80.81% in 2022. The segment is also expected to grow at the fastest rate of 4.35% CAGR. 
• The antimalarial injection segment is anticipated to witness a growth rate of 4.2% over the forecast period. 
• The Middle East region registered the largest market share of 56.9% in 2022. The regional market growth is expected to grow at the fastest rate of 4.33% across the forecast. 
• The Asia Pacific region accounted for the second largest share of 31.85% in 2022.

Report Scope of the Artemisinic Acid Market

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.

Type Insights

The antimalarial tablets segment led the market with the highest revenue share of 80.81% in 2022. The segment is also expected to grow at the fastest rate of 4.35% CAGR. Based on type, the market is segmented into antimalarial injections and antimalarial tablets. Tablets are an oral way of drug administration. Tablets are self-administering and do not require a trained physician for drug administration, which is one of the major reasons for the high acceptance of tablet formulations. Moreover, tablet formulations offer high patient compliance, accurate dosing, control of drug release, and stability. This further improves the demand for antimalarial tablet formulations in the market.

The antimalarial injection segment is anticipated to witness a growth rate of 4.2% over the forecast period. Antimalarial injections are used for severe malaria cases, especially during the time of emergencies. The high bioavailability of injectable formulations leading to the immediate onset of action is the prime factor for its demand in the market. The high number of hospitalizations due to malaria worldwide is expected to boost the segment market growth further.

Regional Insights

The Middle East region registered the largest market share of 56.9% in 2022. The regional market growth is expected to grow at the fastest rate of 4.33% across the forecast. Africa is one of the major countries which suffers significantly from malaria. For instance, UNICEF reports that every minute a child under 5 years dies from malaria in Africa. In MEA, public organizations are keen to provide treatment to reduce the number of deaths associated with the disease.

For instance, the WHO in 2021 stated that The African Region of the WHO accounts for a large part of the global malaria burden. In 2021, the region accounted to have 95% of malaria cases and 96% of malaria deaths. The high burden of the disease and the initiative by public organizations to raise awareness regarding the treatment for malaria is benefiting the growth of the regional market.

The Asia Pacific region accounted for the second largest share of 31.85% in 2022. Countries such as India, Pakistan, Indonesia, and others suffer from a high burden of malaria cases in the region. India is known for the world's third-highest malaria burden. The initiatives taken by public organizations in the APAC countries to reduce the burden of malaria and provide proper treatment are expected to boost the market in Asia Pacific. For instance, The government of India developed a National Strategic Plan (NSP, 2017-2022) and National Framework for Malaria Elimination (2016-2030) to eradicate malaria disease by providing treatment at a low cost. Such initiatives are likely to support the market in Asia Pacific in the forecast.

Artemisinic Acid Market Segmentations:

By Type

• Antimalarial Injections
• Antimalarial Tablets

By Regional

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Australia
  • Pakistan
  • Indonesia
  • Vietnam
• Central & South America
  • Mexico
  • Argentina
  • Colombia
  • Brazil
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • Nigeria
  • Democratic Republic of Congo
  • Mali
  • Uganda
  • Kenya