Triclabendazole Market To Reach Valuation Of US$ 632.1 Mn By 2031

According to the report, the global triclabendazole market was valued at US$ 412 Mn in 2020 and is projected to expand at a CAGR of 4.1% from 2021 to 2031. Triclabendazole is a well-known anthelmintic flukicide that belongs to the benzimidazole chemical family.

Triclabendazole Market: Introduction

According to the report, the global triclabendazole market was valued at US$ 412 Mn in 2020 and is projected to expand at a CAGR of 4.1% from 2021 to 2031. Triclabendazole is a well-known anthelmintic flukicide that belongs to the benzimidazole chemical family. It is widely used on sheep, goats, and cattle, primarily as drenches and seldom in tablets, boluses, or other forms. Only triclabendazole is effective against the very early phases of liver fluke infection, from two weeks after infection to adulthood. Triclabendazole is one of the primary controlling measures for eradicating trematode Fasciola hepatica in livestock. Hence, the use of triclabendazole for animals is anticipated to increase during the forecast period, which is expected to boost the growth of the global market.

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Increase in Incidence of Faciolas Hepatica (Liver Fluke)

Fasciola hepatica, also known as the common liver fluke, occurs in many areas of the world and is usually caused by F. hepatica. In general, fascioliasis is more common and widespread in animals than in people. In the U.K., fluke prevalence in adult dairy cattle has been reported to be 48% to 76%. Prevalence of F. hepatica has increased in the past few years, and fasciolosis has been reported in new areas, thought to be due to wetter summers and warmer winters.

Factors such as rise in demand for improved nutrition, particularly animal protein, and increase in focus on food safety are likely to boost the demand for triclabendazole medicine over the next few years. The demand for milk and milk products has increased in the past few years, which, in turn, is projected to fuel the growth of the global triclabendazole market during the forecast period. Hence, increase in incidence of Faciolas hepatica or liver fluke is anticipated to propel the global market.

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Oral Suspension Segment to Lead Triclabendazole Market

In terms of dosage form, the global triclabendazole market has been bifurcated into liquid transfer tablet and oral suspension. The oral suspension segment dominated the market, accounting for 89.2% share in 2020. Oral suspension formulations containing triclabendazole are more successful in treating liver fluke, as it provides a suitable volume of oral formulation and proper dosage can be administered.

Cattle Segment to Dominate Global Triclabendazole Market

Based on animal type, the global triclabendazole market has been classified into cattle, sheep, goat, and others. Liver fluke is likely to cost the livestock sector around US$ 2.2 Bn per year globally, as it deteriorates cattle health. Hence, use of triclabendazole in treating Fasciola hepatica in cattle is expected to drive the segment during the forecast period. Liver fluke can infect all grazing animals, but primarily affects sheep and cattle. It is most pathogenic in sheep, and acts as the main definitive host. Losses caused due to it are estimated at US$ 4 to US$ 5 per infected sheep. These factors are likely to propel the segment during the forecast period.

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Veterinary Hospitals to be Key Distribution Channel

In terms of distribution channel, the global triclabendazole market has been classified into veterinary hospitals, veterinary clinics, pharmacies drug stores, and others. The veterinary hospitals segment dominated the market, accounting for 26.4% share in 2020. The trend is projected to continue during the forecast period. Veterinary hospitals have systems with maximum compatibility for the animals and consist of more veterinary professionals. This is likely to drive the segment during the forecast period.

North America to Lead Global 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, owing to large livestock population, increase in spending on preventive health care, and rise in number of veterinary clinics in the U.S.

Europe held significant share of the global market in 2020, due to presence of several key players in animal health. It is likely to be an attractive market during the forecast period. This can be attributed to large livestock population and rise in prevalence of liver fluke in grazing animals.

Competition Landscape

The global triclabendazole market is fragmented due to the presence of a large number of leading players. Key players operating in the global market 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, and Zoetis Health.

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