Artemisinic Acid Market Size & Share, By Type (Antimalarial Injections, Antimalarial Tablets), Regional Forecast, Industry Players, Growth Statistics Report 2023-2030

Market Outlook:

Artemisinic Acid Market size surpassed USD 664.22 Million in 2022 and is poised to reach USD 1072.55 Million, growing at over 4.87% CAGR between 2023 and 2030. Artemisinic acid is a key intermediate used in the production of artemisinin, which is the main ingredient in the most effective antimalarial drugs. The increasing prevalence of malaria across various regions, coupled with a rising demand for effective treatment options, is driving the market growth for artemisinic acid. Additionally, advancements in the pharmaceutical industry and ongoing research and development activities are expected to further propel market growth.

• Base Year Value (2022): USD 664.22 Million
• CAGR (2023-2030): 4.9%
• Forecast Year Value (2030): USD 1072.55 Million
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Rising Prevalence of Malaria: The growing incidence of malaria worldwide is a major driver for the artemisinic acid market. Artemisinin-based combination therapies (ACTs), which rely on artemisinic acid, are highly effective in treating malaria and are recommended by the World Health Organization (WHO).

2. Government Initiatives: Governments of several countries have launched initiatives to combat malaria, which include promoting the use of artemisinin-based drugs. Such initiatives are expected to create lucrative opportunities for artemisinic acid manufacturers.

3. Increasing Healthcare Expenditure: The rise in global healthcare expenditure has contributed to the growth of the pharmaceutical industry, ultimately driving the demand for artemisinic acid and its derivatives.

 

Industry Restraints & Challenges:

Report Scope

Report Coverage	Details
Segments Covered	Type, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Sanofi, KPC Pharmaceuticals, Guilin Pharmaceutical Co., Calyx Chemicals and Pharmaceuticals., Novartis AG, Ipca Laboratories., Cipla, Shin Poong Pharm, Rupus Global Limited, AdvacarePharma

1. Environmental Concerns: The extraction of artemisinin from Artemisia annua plants can lead to environmental degradation if not carried out sustainably. The adverse ecological impact associated with artemisinic acid extraction poses a challenge for market growth.

2. High Production Costs: The complex and expensive manufacturing process of artemisinic acid hampers its widespread adoption. The production costs involved in the synthesis or extraction of artemisinic acid act as a restraint for market growth.

3. Availability Issues: The availability and accessibility of high-quality Artemisia annua plants required for extracting artemisinic acid can be restricted, limiting its production and hindering market growth.

In conclusion, the artemisinic acid market is expected to grow substantially due to the increasing prevalence of malaria and government initiatives to combat the disease. However, environmental concerns, high production costs, and availability issues pose challenges to the market's expansion. Manufacturers in this space will need to address these challenges effectively to capitalize on the opportunities presented by the growing demand for artemisinic acid.

Regional Forecast:

North America:

The North American market for artemisinic acid is expected to witness significant growth during the forecast period. The region is witnessing a rise in the prevalence of malaria, which is one of the major factors driving the demand for artemisinic acid. Additionally, the presence of key market players in the region and favorable government regulations supporting the production of artemisinic acid are further expected to contribute to market growth in North America.

Asia Pacific:

The Asia Pacific region is anticipated to dominate the artemisinic acid market during the forecast period. The increasing burden of malaria and other vector-borne diseases in countries such as China and India is driving the demand for artemisinic acid. Furthermore, the presence of a large population base, favorable climatic conditions for the cultivation of Artemisia plants, and the availability of low-cost labor are some of the factors contributing to the growth of the market in the region.

Europe:

The European market for artemisinic acid is also projected to witness substantial growth in the coming years. The rising awareness regarding the benefits of artemisinic acid in treating malaria, coupled with the presence of key pharmaceutical manufacturers in the region, is driving market growth. Additionally, government initiatives to combat malaria and the increasing focus on research and development activities in the field are expected to further propel the market growth in Europe.

Segmentation Analysis:

Pharmaceutical Industry:

Artemisinic acid finds extensive usage in the pharmaceutical industry for the production of artemisinin, which is a vital component of artemisinin-based combination therapies (ACTs). ACTs are considered as the most effective treatment for malaria. The demand for artemisinic acid in the pharmaceutical sector is expected to witness substantial growth due to the increasing prevalence of malaria worldwide. The pharmaceutical industry segment is anticipated to dominate the artemisinic acid market, accounting for a significant revenue share during the forecast period.

Nutraceutical Industry:

In the nutraceutical industry, artemisinic acid is utilized in the manufacturing of dietary supplements and functional food products. Artemisinic acid possesses various therapeutic properties, including anti-inflammatory and anti-cancer properties, which make it an ideal ingredient for nutraceutical products. Rising health consciousness among consumers and an increasing inclination towards preventive healthcare are driving the demand for nutraceutical products, thereby fueling the growth of the artemisinic acid market in the nutraceutical industry segment.

Competitive Landscape:

The artemisinic acid market is highly competitive with the presence of several key players. These companies are primarily focused on research and development activities to enhance the production of artemisinic acid and meet the growing demand. These players are constantly adopting strategies such as mergers and acquisitions, collaborations, and product innovations to strengthen their market position and gain a competitive edge.