Artemisinic Acid Market by Type (Antimalarial Injections and Antimalarial Tablets), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032

Artemisinic Acid Overview

A naturally occurring substance called artemisinic acid is obtained from the sweet wormwood plant (Artemisia annua). Due of this plant's antimalarial effects, Chinese medicine has long employed it. In order to create the powerful antimalarial medication artemisinin, artemisinic acid is a necessary ingredient. Artemisinic acid is a crucial precursor in the pharmaceutical industry for the creation of powerful antimalarial drugs since it can be transformed into artemisinin through a sequence of chemical processes. The continued fight against malaria, particularly in areas where it is endemic, and the persistent demand for artemisinin-based antimalarial medications are driving the artemisinic acid market expansion.

Global Artemisinic Acid Market Analysis

The global artemisinic acid market size was $711.8 million in 2022 and is predicted to grow with a CAGR of 4.4%, by generating a revenue of $1,072.3 million by 2032.

COVID-19 Impact on Global Artemisinic Acid Market

The COVID-19 pandemic had an enormous impact on global markets, including the artemisinic acid market. A vital substance called artemisinic acid is generated from the plant, Artemisia annua, which is well-known for having antimalarial qualities. It serves as a key ingredient in the creation of artemisinin-based combination therapies (ACTs), which are regarded as one of the best malaria treatments. There were severe supply chain challenges at the beginning of the pandemic due to disruptions in industry, transportation, and international trade. Worldwide restrictions and limitations on mobility impacted the manufacture and transportation of artemisinic acid and related medicinal goods. As a result, both the supply of ACTs and the demand for artemisinic acid fluctuated.

In addition, COVID-19 increased healthcare costs in some areas with a high malaria prevalence, which might draw focus away from malaria treatment and preventive initiatives. In some places, the overall demand for ACTs and artemisinin acid may have been influenced by this circumstance. On the other hand, the pandemic also brought more attention to the creation of new pharmaceuticals. In the long run, the development of antiviral and antimalarial drugs might have benefited the market for artemisinic acid had there been more focus on them during the world's urgent search for cures and vaccinations for COVID-19. The pandemic also made clear how crucial secure and dependable supply chains are for life-saving medications. To lessen reliance on a particular geographic area and guarantee a continuous supply in the face of upcoming upheavals, governments and organizations may have reviewed their methods for procuring important pharmaceutical ingredients, like artemisinin acid.

Growing Demand for Artemisinin-based Combination Treatments the Artemisinic Acid Market

The market for artemisinic acid has grown significantly, principally due to several important factors. First and foremost, a significant driver has been the increase in demand for artemisinin-based combination treatments (ACTs) to treat malaria. The manufacture of artemisinin, the active component of ACTs, which are widely regarded as being particularly successful in treating drug-resistant types of malaria, requires artemisinic acid as a necessary precursor. Second, the pharmaceutical industry's increased emphasis on the creation of novel medications and treatments has increased the demand for artemisinin. Beyond the treatment of malaria, researchers and pharmaceutical companies are looking into its prospective uses, such as in the study of cancer, where derivatives of artemisinic acid have demonstrated promising anti-cancer characteristics. In addition, the rising popularity of natural and herbal medicines in healthcare has significantly increased the need for artemisinin acid. The substance fits in nicely with the global trend towards natural and plant-based medicines because it is produced from the sweet wormwood plant, which is well-known for its medical qualities. Innovations in artemisinic acid production have also been made possible by advances in biotechnology and synthetic biology. Artemisinic acid can now be produced more effectively and on a larger scale thanks to genetic engineering and microbial fermentation techniques, which also leads to higher availability and reduced prices. Finally, the demand for artemisinic acid has increased because of rising government initiatives and international organisations' attempts to control malaria in areas where it is endemic. These organizations frequently assist and subsidize the development and marketing of anti-malarial medications, fostering an advantageous market scenario for companies that produce artemisinic acid.

Unstable Supply of Artemisinin to Restrain the Expansion of the Artemisinic Acid Market

Numerous constraints impeded artemisinic acid market expansion and advancement. The insufficient supply of artemisinin, the main starting material for the creation of artemisinic acid, was a significant contributing element. The artemisia annua plant, which has a relatively low yield and necessitates specialized growth conditions, is the main source of artemisinin. As a result, the generation of artemisinic acid could fluctuate due to an unstable supply of artemisinin. The difficult and costly production procedure for artemisinic acid was another barrier. Artemisinin to artemisinic acid conversion is a multi-step chemical process that frequently calls for specialized machinery and specialized labor. These variables increased production costs, making it difficult to produce artemisinic acid on a wide scale while remaining cost-effective. The market for artemisinic acid may also be hampered by legal issues and conflicts over intellectual property rights. It can take a long time and be expensive to get the required approvals for novel medicine formulations or production methods, which could delay market entry and commercialization. Finally, the artemisinic acid market may be impacted by changes in the demand for antimalarial medications globally and the geopolitical environment of areas where malaria epidemics are common.

Advancements in Technology to Drive Excellent Opportunities

The manufacturing and use of this essential substance have been revolutionized by substantial technological breakthroughs in the artemisinic acid market. The most efficient method of treating malaria is artemisinin, which is made from artemisinic acid, which is obtained from the artemisia annua plant. The labor-intensive, time-consuming, and yield-limited nature of current extraction and synthesis procedures hindered the global fight against malaria. However, with the development of cutting-edge technologies like synthetic biology and metabolic engineering, scientists and researchers have been able to create more effective and environmentally friendly processes for manufacturing artemisinic acid. Microorganisms like yeast and Escherichia coli have been genetically modified to create huge amounts of artemisinic acid, circumventing the drawbacks of conventional plant-based extraction techniques. By lowering total costs and increasing production yield, this biotechnological technique has made artemisinic acid more affordable and available in malaria-endemic areas. The quality and purity of artemisinic acid have also been significantly improved through developments in analytical methods and process optimization. More effective artemisinin-based medications have resulted from these advancements, enhancing the treatment outcomes for malaria patients and supporting global efforts to combat drug-resistant strains of the disease. Furthermore, technological advancement in the artemisinic acid market has prompted the creation of environmentally friendly and sustainable production methods. Biotechnological solutions have become more popular as people's awareness of environmental effects has grown since they have a smaller carbon footprint and depend less on finite natural resources. Additionally, manufacturing has been optimized through the incorporation of automation and digitalization, resulting in consistent quality and quicker supply chain management. In the market for artemisinic acid, real-time data monitoring and predictive analytics have enhanced decision-making, decreased operating costs, and increased efficiency.

Global Artemisinic Acid Market Share, by Type, 2022

The antimalarial tablets sub-segment accounted for the highest market share in 2022. The antimalarial tablets market sub-segment is crucial in boosting demand for the substance artemisinin. A vital precursor in the creation of the effective antimalarial medication artemisinin is artemisinic acid. The production of artemisinin, the active ingredient in antimalarial tablets and other related drugs, is significantly dependent on artemisinic acid in the pharmaceutical sector. Artemisinin-based antimalarial tablets are now the norm in many malaria-affected areas since they are a commonly used and successful treatment for the disease. Due to the widespread occurrence of malaria throughout the world, particularly in tropical and subtropical areas, there is a sizable need for these tablets. As a result, to guarantee a consistent supply of artemisinin for the manufacture of antimalarial tablets, pharmaceutical businesses and research organizations actively look for sources of artemisinic acid. The market for artemisinic acid is directly impacted by this demand, with producers and suppliers concentrating on satisfying the needs of the pharmaceutical sector. Furthermore, the expansion of the antimalarial tablets sub-segment has been aided by international initiatives to fight malaria and enhance healthcare in afflicted areas. Governments, international organizations, and nongovernmental organizations (NGOs) continue to support measures aimed at eliminating malaria, which results in more money and resources being allocated to programmes that provide antimalarial medications.

Global Artemisinic Acid Market Share, by Region, 2022

The LAMEA artemisinic acid market generated the highest revenue in 2022. The market for artemisinic acid was significantly influenced by the LAMEA region (Latin America, the Middle East, and Africa). Due to the high frequency of malaria in these areas, there was a substantial need for artemisinic acid, a crucial ingredient in the creation of artemisinin-based antimalarial medications. The most successful malaria treatments are artemisinin-based combination therapies (ACTs), and because the disease is widespread in portions of Latin America, the Middle East, and Africa, there was a great need for artemisinic acid to make these life-saving medications. The LAMEA region's pharmaceutical sector had a significant role in the development and marketing of antimalarial medications, which helped to increase demand for artemisinin.

Competitive Scenario in the Global Artemisinic Acid Market

Investment and agreement are common strategies followed by major market players. Some of the leading artemisinic acid market players are Sanofi, KPC Pharmaceuticals, Inc, Guilin Pharmaceutical Co., Ltd, Calyx Chemicals and Pharmaceuticals Ltd., Novartis AG, Ipca Laboratories Ltd., Cipla Inc., Shin Poong Pharm Co., Ltd., Rupus Global Limited, and AdvacarePharma.