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Fenbendazole Market to Witness Exponential Growth by 2026
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Fenbendazole is a broad spectrum anthelmintic drug of class benzimidazole. Fenbendazole is used to remove certain gastrointestinal parasites from the stomach and intestines of animals. It is effective against roundworms, hookworms, whipworms, certain tapeworms, and parasites called strongyles and strongyloides, respectively. Fenbendazole acts as an effective de-wormer as it controls & destroys these worms by preventing their growth and reproduction.
Fenbendazole Market Driver
Increasing research and development activities for enhancing the efficiency of fenbendazole in treating various diseases in animals and humans is a major factor boosting growth of the fenbendazole market. For instance, in August 2018, researchers from National Centre for Human Genome Studies and Research (NCHGSR), India, reported that fenbendazole has potential to act as an effective anti-cancer agent. Fenbendazole can also be effective remedy in evading drug resistance commonly encountered in cancer therapy. To study this, researchers first treated human non-small cell lung cancer cells with fenbendazole and found tumor cell death.
Since, developing a promising molecule into an approved drug often consume considerable time and cost, repurposing of veterinary drugs in treating diseases in humans can be effective and have shown promising results and is expected to show cost reduction without need to develop new drugs.
Furthermore, approval of new fenbendazole drugs is expected to drive growth of the fenbendazole market. For instance, in January 2018, Merck Animal Health received approval from U.S. Food and Drug Administration (USFDA), for its Safe-Guard AquaSol, a fenbendazole oral suspension used in the treatment and control of adult Ascaridia galli in broiler chickens and Heterakis gallinarum in breeding chickens via drinking water. Safe-Guard AquaSol is produced with an innovative wet-milling technology, which produces a highly stable suspension that can be conveniently administered to hens through drinking water.
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Fenbendazole Market – Taxonomy
By Product Type
Fenbendazole Market Restraint
Fenbendazole drug resistance due improper or excessive usage of drugs in horses is likely to affect the growth of fenbendazole market. For instance, according to National Equine Health Survey (NEHS) 2016, increasing use of fenbendazole drugs in horses in the U.S. has caused widespread resistance for the drug in these animals. According to the same source, use of fenbendazole drugs in horses for treatment of encysted small red worm causes gut infection in the animals.
Fenbendazole Market – Regional Analysis
On the basis of region, the global fenbendazole market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global fenbendazole market, owing to new developments in pet care and animal health. For instance, in June 2018, Cargill Animal Nutrition, a U.S.-based firm launched NutreBeef Safe-Guard (fenbendazole) Dewormer Mineral (Medicated) in one easy-to-use package. NutreBeef Safe-Guard Dewormer Mineral combines Safe-Guard from Merck Animal Health, with a high quality, free-choice mineral formula from Cargill Animal Nutrition. Safe-Guard goes directly into the gastrointestinal tract of the parasite and once ingested by the parasite, it cannot be excreted thus, accumulation of Safe-Guard in the parasite eventually leads to parasite death.
Furthermore, Asia Pacific is expected to witness significant growth in global fenbendazole market due to expansions of production sites for fenbendazole by key players. For instance, in November 2017, Lasa Supergenerics Limited, a key player in manufacturing of Veterinary APIs in India, launched trial production of fenbendazole intermediates along with other drugs at its manufacturing unit IV to increase the production of fenbendazole in India.
Key players operating in the global fenbendazole market include, Shaanxi Hanjiang Pharmaceutical Group Co., Ltd., Hubei KangBaoTai Fine Chemical Co., Ltd, Merck Sharp & Dohme Corp., Henan Purui Pharmaceutical Co., Ltd., Leo Bio-care Private Limited, Supharma Chem., Intervet Inc., LASA Supergenerics Limited, and Jiangsu Quality Horizons Pharmtech Co., Ltd.
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