Niclosamide Market to Record an Exponential CAGR by 2024

Niclosamide, belonging to the salicylanilide anti-helminthic class of medicines, is a dose-dependent low micro-molar inhibitor of the human rhinovirus. This prescription drug is used in the treatment of tapeworm infections. It works by eliminating the tapeworms. The infection of Taenia solium (called taeniasis/cysticercosis) occurs via contaminated food or water and creates major health problems. The T. solium infected over 50 million individuals worldwide in 2015. This infection causes epilepsy of liver and as per the World Health Organization, more than 80% of the patients affected by epilepsy lived in low and middle income countries. In 2015, China, India, Brazil, Mexico, and parts of Africa experienced an endemic situation in terms of T. solium infection. Several preclinical trial studies have been taking place to ensure the efficacy of niclosamide for the treatment of other infections such as methicillin-resistant Staphylococcus aureus and Zika virus. The drug is also used for veterinary purposes.

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Unmet medical needs in the field of Zika treatment and focus on reducing tapeworm infections present significant opportunities for the global niclosamide market. Increasing collaborations among major market players and research institutes to study different treatment regimens using niclosamide drive the market as well. However, the rising number of regional/local generic entrants in the treatment of worm infection is expected to lead to the fragmentation of the global niclosamide market. Adoption of better health care facilities, awareness regarding treatment of worm infections, and government initiatives for proper hygiene and cleanliness are likely to propel the market in developing countries.

The global niclosamide market has been divided on the basis of product type into the following segments: 95% niclosamide, 96%–98% niclosamide, and 99% niclosamide. Based on application, the market has been bifurcated into the human use and animal use categories. In terms of dosage form, the market is classified into the following groups: tablets, suspension, and others, of which tablets are projected to hold a significant market share owing to factors such as ease of drug administration, simplicity in manufacturing, and better overall medicinal stability. By end-user, the global niclosamide market is split into the following divisions: hospitals, specialty clinics, veterinary clinics, and others.

Geographically, the market is distributed over five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is projected to exhibit a high growth rate due to the widespread incidence of tapeworm infections, growing awareness about better health care facilities, and the significant number of regional / local manufacturers in the region. North America is predicted to dominate the global niclosamide market due to the high cost of therapy, substantial research initiatives for the efficacy studies of niclosamide for the treatment of different targets, and the high per capita health expenditure.

Several generic entrants are entering the market. Significant penetration of regional players owing to their wide network of distribution channels and affordable pricing is the trend observed in the global niclosamide market. Ongoing research for the product’s efficacy testing for diverse pathogenic targets is estimated to provide treatment opportunities for other viral infections, thereby steering the market. The prevalence of T. solium is greater in low and middle income countries. Therefore, rising demand for affordable medicines is likely to drive the global niclosamide market, besides the availability of other advanced treatment options or therapeutics for the same infections.

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Key players in the global niclosamide market include Bayer AG, Taj Pharmaceuticals Limited., D. H. Organics, Shaanxi Hanjiang Pharmaceutical Group Co., Ltd., Prudence Pharma Chem, FULLLONGCHEM CORP, Hubei Prosperity Galaxy Chemical Co., Ltd., and Inner Mongolia Huatian Pharmaceutical Co., Ltd.

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