The global Ivermectin Market experienced substantial growth in 2021 and is projected to maintain a rapid revenue growth rate throughout the forecasted period. The healthcare sector plays a pivotal role in the utilization of IVM, while its anthelmintic properties also make it valuable for treating animals. Furthermore, its application in academic and scientific research, particularly in the context of cancer and COVID-19 treatment advancements, significantly contributes to revenue expansion. These factors collectively propel the growth of the market.

Ivermectin, an antiparasitic medication, is employed for treating various internal parasitic diseases like onchocerciasis and external parasitic conditions such as rosacea and lice infections. The discovery and various applications of Ivermectin earned biochemist Satoshi Omura and biologist William Campbell the 2015 Nobel Prize in Medicine. It exerts its effects by interfering with the nervous systems of parasites and insects, thereby inhibiting their activities. Notably, the World Health Organization (WHO) includes Ivermectin in its list of essential medicines, highlighting its significance. This medication is available as a generic drug and can be purchased over the counter. It comes in topical lotions, creams, and oral tablet forms, serving a wide range of purposes, from veterinary applications to human treatments. It is also effective in curing conditions such as elephantiasis and ascariasis.

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Major companies in the market include :

• Merck (Germany)
• Galderma (Switzerland)
• Boehringer Ingelheim (Germany)
• Shandong Qilu King-Phar (China)
• Delta Pharma (Canada)
• Edenbridge Pharmaceuticals (U.S.)
• Taj Pharmaceuticals (India)
• Sun Pharma (India)
• Topaz Pharmaceuticals (U.S.)
• Perrigo (Ireland)
• Arbor Pharmaceuticals (U.S.)

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Driving Factors:

1. Healthcare Demand: Ivermectin is widely used in the healthcare sector to treat internal and external parasitic infections in humans. The continuous demand for effective treatments for these conditions fuels the market's growth.
2. Animal Health: The use of Ivermectin in veterinary medicine for treating parasites in animals like cows, sheep, goats, pigs, and horses contributes significantly to market growth. As the global population increases, so does the demand for animal health products.
3. Scientific Research: Ongoing scientific research and newer developments related to Ivermectin's potential applications in areas like cancer treatment and COVID-19 have stimulated market growth. Research studies exploring its therapeutic potential in various diseases continue to expand its market reach.
4. Essential Medicine Status: The inclusion of Ivermectin in the World Health Organization's (WHO) Model List of Essential Medicines underscores its importance in global healthcare, ensuring its continued use and availability.

Restraints:

1. Controversial Use in COVID-19: The controversial use of Ivermectin for COVID-19 treatment has led to conflicting opinions and ongoing debates. Regulatory agencies in some regions have issued warnings against its use for COVID-19 due to insufficient clinical evidence, which could limit its adoption.
2. Resistance Development: Over time, parasites can develop resistance to Ivermectin, reducing its effectiveness in both human and veterinary applications. This resistance poses a challenge to long-term treatment strategies.
3. Regulatory Challenges: Strict regulatory requirements and varying approval processes for Ivermectin in different countries can create barriers to market entry and expansion.
4. Alternative Treatments: The availability of alternative treatments for parasitic infections and the emergence of new therapies may impact Ivermectin's market share, especially if these alternatives offer improved efficacy or safety profiles.

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