The global pyrimethamine market size was valued at USD 1,000 million in 2021 and is projected to reach around USD 1,650 million in 2030 exhibiting a CAGR of 5.0% in the forecasted period. The rise in the number of HIV patients across the globe, increasing prevalence of toxoplasmosis infection, growing prevalence of malaria, and surging cancer cases and chemotherapy procedures are anticipated to upsurge the market growth. However, side effects related with pyrimethamine, high cost of pyrimethamine are the factors hindering the growth of the market in the forecasted period.
Toxoplasmosis is an infection produced by a single-celled parasite called Toxoplasma gondii. The increasing prevalence of toxoplasmosis infection is projected to drive the growth of the global pyrimethamine market. According to the sources of the Centers for Disease Control and Prevention (CDC) 2018, in the U.S., a projected 11% of the 6-year-old population was diseased with Toxoplasma gondii. In various places around the world, it is projected that above 60% of people have been affected with Toxoplasma gondii. The infection rate is usually higher in areas with great humidity, heat, and lower altitudes, as oocysts endure better in these types of environments.
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Promising side effects related with pyrimethamine contain occasional and probably severe hypersensitivity reactions such as toxic epidermal necrolysis, Stevens-Johnson syndrome, erythema multiforme, and homophenylalanine amines, which are projected to hamper the market growth. Also, the high cost of pyrimethamine is estimated to confine the global pyrimethamine market growth over the forecasted period. For instance, the cost of Daraprim (pyrimethamine) is very high. In 2018, the list price for a one-month stock (60 tablets) in the U.S. was around US$ 45,000.
Since the COVID-19 outbreak in December 2019, the disease has extended to more than 100 nations across the world. The coronavirus (COVID 19) pandemic and following lockdown in several nations across the globe have obstructed the financial status of industries in all sectors. The coronavirus pandemic has also delayed the production, development, and supply of medicines and other healthcare products and affected the growth of the healthcare business of several companies around the world. Hence, during the forecast period, the effect of the COVID19 pandemic is also predicted to hinder the growth of the global pyrimethamine market.
The market for pyrimethamine is moderately competitive. With the rising applications of pyrimethamine, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the pyrimethamine market, ultimately boosting the market growth.
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Competitive Analysis
Vyera Pharmaceuticals, LLC, Cerovene Healthcare PVT. LTD, GlaxoSmithKline plc, Impax Laboratories, Inc., NCBO BioPortal, Pfizer, Inc., PRN Pharmacal, SUDA Pharmaceuticals, Taj Accura Pharmaceuticals, TargetMo Chemicals Inc., Evaluate Ltd., Abcam
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