Artemisinin, also known as qinghaosu and is used to cure plasmodium falciparum malaria. Artemisinin is a native Chinese herb and is useful in fighting the malarial parasite. The artemisinin market is dominated by Asia Pacific and Africa.
Artemisinin is extracted from the Artemisia annua plant. Presently, it is also produced by using genetically engineered yeast. Continuous research and developments have found artemisinin and its derivatives to be effective in cancer treatment as well.
The pivotal factors, driving the artemisinin market are advancements in technology and improving medical infrastructure in China and India. Other factors driving the artemisinin market are malarial prone countries, such as Tanzania, Congo, Uganda, Nigeria and some South East countries. However, limited manufacturers of artemisinin are likely to hamper the market.
The artemisinin market can be segmented into applications, production methods and geographies. The applications market can be divided into treatment of malaria, treatment of helminth parasites and treatment of cancer. Treatment of malaria accounted for the largest market in 2013, and was followed by treatment of helminth parasites.
The artemisinin market, on the basis of production methods, can be fragmented into chemical synthesis, biosynthesis and synthesis in engineered organisms. Globally, Asia Pacific and Africa captured the largest market share for artemisinin. This happened on account of huge production of artemisinin in these regions.
North America holds the second largest share. It is followed by Europe. The second largest share of North America is attributed to advancements in technology and expanding medical sectors in the region. Rising pharmaceuticals industry is also predicted to augment the artemisinin market over the forecast period.