Triclabendazole Market at a CAGR of 4.1% from 2021 to 2031

Triclabendazole Market Outlook 2031

The global triclabendazole market was valued at US$ 412 Mn in 2020

It is estimated to expand at a CAGR of 4.1% from 2021 to 2031

The global triclabendazole market is expected to reach the value of US$ 632.1 Mn by the end of 2031

Analysts’ Viewpoint on Triclabendazole Market Scenario

Telehealth and eHealth services are changing the triclabendazole market landscape amid the ongoing COVID-19 pandemic. However, the launch of vaccines for fasciolas species is affecting sales of triclabendazole therapeutics. Hence, healthcare companies in the veterinary segment should tap revenue opportunities and diversify their focus on dairy and protein products sector. While using triclabendazole, veterinarians are educating animal owners to choose efficient treatment plans for using drugs that target the stage of the disease. It has been found that triclabendazole is relatively effective against the very early stages of the infection in animals.

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Requirement for Quality Dairy and Meat Products Triggers Demand for Triclabendazole Therapeutics

The ever-expanding dairy industry is creating revenue opportunities for companies in the triclabendazole market. The high demand for quality milk and protein products is translating into revenue opportunities for triclabendazole medicine manufacturers. As such, manufacturers are increasing output capacities in the form of tablet and oral suspensions.

Cost-effective production of safe and high quality animal protein is necessary to meet consumer needs. Healthcare companies in the triclabendazole market are taking advantage of this trend to increase the availability of therapeutics in veterinary hospitals, clinics, pharmacies, and drug stores. Moreover, eCommerce holds promising potentials to expand revenue streams.

Healthcare Companies Emerge Resilient to COVID-19 Pandemic by Rethinking Supply Networks

Manufacturers in the triclabendazole market are increasing local production capabilities to reduce dependence on other countries for veterinary medical supplies. Manufacturers are working at breakneck speeds to increase the availability for life-saving therapeutics. In the veterinary landscape, elective procedures have been postponed indefinitely. Such findings are affecting revenue generation activities in the triclabendazole market. Nevertheless, manufacturers are ensuring business continuity by maintaining optimum inventory levels.

Companies in the triclabendazole market are rethinking supply networks during the ongoing pandemic, owing to logistic challenges. Although poor demand sentiments are affecting income sources of healthcare companies, participants in the market are establishing balanced relationship with suppliers and ecosystem partners to keep economies running. They are strategizing over marketing and distribution activities to revive revenue sources.

High Prevalence of Fascioliasis in Animals Creating Precautions for Triclabendazole Medicines

Veterinarians are gaining cognizance about side effects and precautions of triclabendazole such as possible abdominal pain amongst animals and reading the label for non-prescription medicines. Triclabendazole is being extensively used for treating fascioliasis, which is caused by the liver fluke parasite namely fasciola hepatica. The high incidence of animals eating contaminated water plants such as watercress or algae is leading to increased morbidity and mortality in animals due to fascioliasis. Manufacturers are boosting their production capabilities for triclabendazole medications to support treatment of fascioliasis in animals.

Government Initiatives to Control Liver Fluke Infections Boost Triclabendazole Sales

Government initiatives are contributing to the management of liver fluke infections. Such initiatives are evident in countries such as Western Australia (WA), owing to the absence of liver fluke in the country. Moreover, potential carrier animals imported in WA are subject to mandatory testing. Thus, treatment provisions are being made by maintaining robust supply of triclabendazole medicines to ensure freedom from liver fluke.

The annual cost of liver fluke disease is estimated to be US$ 1 Bn in Australia and US$ 7.11 Bn in Brazil. Hence, manufacturers in the triclabendazole market are ensuring a continuous supply of therapeutics in veterinary healthcare facilities to reduce the treatment burden on the government and other participants in the value chain.

Effective Treatment and Control on Farms with Triclabendazole Improves Clinical Outcomes

Growing awareness about the efficacy of triclabendazole for the treatment of liver fluke disease is contributing to market growth. Healthcare companies in the triclabendazole market are capitalizing on this opportunity to boost production capacities, since this disease causes significant financial losses to producers in value chains such as meat, dairy, and other industries.

Cattle and sheep are fueling the demand for triclabendazole medicines. Veterinarians are educating and creating awareness among animal owners about effective treatment and control on farms by helping them acquire a better understanding of the infection cycle. This is necessary since the weather has a significant effect on the prevalence of liver fluke in cattle and sheep.

Triclabendazole Market: Overview

Triclabendazole, a benzimidazole derivative, is one of the most extensively used anthelminthic medications for treating and controlling fascioliasis in cattle and people. It has been demonstrated to reduce the excretion of Fasciola spp. eggs in cow and sheep feces by over 95%. Unlike other anthelminthics, which are only effective against adult flukes, this one is effective against both adults and children.

Triclabendazole is effective against adult and immature flukes, which are two weeks old and above. The lethal action against immature flukes is mostly significant, as the passage of the emerging flukes out of the small intestine and into liver is the most risky stage of the infection.

Increase in incidence of Faciolas hepatica/liver fluke and rise in awareness about treatment of livestock in the initial phase of the disease using triclabendazole is expected to propel the global triclabendazole market

Triclabendazole Market: Key Drivers

Rise in prevalence of liver fluke caused by trematode parasite is anticipated to drive the need of triclabendazole drugs for the treatment of the same

Fasciola hepatica, also known as the common liver fluke, occurs in many areas of the world and usually is caused by F. hepatica. In general, fascioliasis is more common and widespread in animals than in people.

Liver fluke affects sheep and cattle of all ages and can reduce live-weight gains by 10% in adults and 30% in lambs and calves. The weather has a significant effect on the prevalence of liver fluke, especially mild winters and wet summers. The first step toward more effective treatment and control on farms is to gain a better understanding of the infection cycle and seasonal hazards of liver fluke.

A range of products can be used to treat cattle and sheep for fluke. When choosing treatment plans, it is important to use drugs that target the stage most likely to be present within the animal at the time to help reduce selection pressure. Triclabendazole is the only product that is effective against the very early stages, from two weeks after infection to adults.

Market Segmentation: Triclabendazole Market

In terms of dosage form, the global triclabendazole market has been bifurcated into tablet and oral suspension

Based on animal type, the global triclabendazole market has been classified into cattle, sheep, goat, and others

Based on distribution channel, the global triclabendazole market has been divided into veterinary hospitals, veterinary clinics, pharmacies & drug stores, and others

Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The triclabendazole market report provides current and expected revenue (US$ Mn) for each of these segments from 2021 to 2031, considering 2020 as the base year. The compound annual growth rate (percentage CAGR) has been provided for each segment and market from 2021 to 2031 along with market size estimations.

Regional Overview: Triclabendazole Market

In terms of region, the global triclabendazole market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

North America dominated the global triclabendazole market in 2020, accounting for 30.9% share. Growth of the market in the region can be attributed to high livestock population and increase in spending on preventive healthcare. Rise in prevalence of F. hepatica in sheep and cattle in North America is anticipated to drive the market during the forecast period. Moreover, increase in awareness about the use of triclabendazole in the treatment of Fasciola hepatica infection is expected to boost the growth of the market over the next few years.

Major Players

The triclabendazole market report concludes with the company profiles section, which includes key information about major players in the global triclabendazole market

Leading players analyzed in the report include

• AdvaCare Pharma
• RV Lifesciences Limited
• Grampus Laboratories
• Intas Pharmaceuticals Ltd.
• Shanghai Tongren Pharmaceutical Co., Ltd.
• Shijiazhuang Shimu Animal Pharmaceutical Co., Ltd.
• Siflon Drugs & Pharmaceuticals Pvt. Ltd.
• Elanco
• Virbac
• Bimeda, Inc.
• Chanelle Pharma
• Zoetis Health

Each of these players has been profiled in the triclabendazole market report based on parameters such as company overview, financial overview, business strategies, application portfolio, business segments, and recent developments

Key Questions Answered in Triclabendazole Market Report

• What is the sales/revenue generated by triclabendazole across all regions during the forecast period?
• What are the opportunities in the global triclabendazole market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which regional market is set to expand at the fastest CAGR during the forecast period?
• Which segment is expected to generate the highest revenue globally in 2031?
• Which segment is likely to expand at the highest CAGR during the forecast period?
• What are the market positions of different companies operating in the global market?

Triclabendazole Market – Segmentation

Dosage Form

• Tablet
• Oral Suspension

Animal Type

• Cattle
• Sheep
• Goat
• Others

Distribution Channel

• Veterinary Hospitals
• Veterinary Clinics
• Pharmacies & Drug Stores
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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