Paromomycin Sulphate Market

Market Overview:

The global paromomycin sulphate market exhibiting a growth rate (CAGR) of 5.5% during 2023-2028. The increasing number of areas with inadequate sanitation facilities, rising number of individuals suffering from weakened immune systems, and the growing number of clinical studies are some of the major factors propelling the market.

Paromomycin sulphate is an antibiotic medication used to treat various types of infections caused by certain parasites and bacteria. It belongs to the class of aminoglycoside antibiotics drugs. It works by inhibiting the synthesis of proteins in these microorganisms, which leads to their death or inhibition of their growth. It is effective against certain protozoa and helminths, including intestinal parasites like Giardia lamblia and Entamoeba histolytica. It is administered orally or topically, which depends on the condition being treated.

The increasing number of areas with inadequate sanitation facilities and poor hygiene practices is favoring the growth of the market. Moreover, rising number of individuals suffering from weakened immune systems, such as acquired immunodeficiency syndrome (AIDS), or undergoing different immunosuppressive therapies is contributing to the market growth. In addition, measures undertaken by governing agencies of numerous countries to offer subsidized healthcare programs or the inclusion of paromomycin sulphate in treatment guidelines are strengthening the growth of the market. Apart from this, the growing number of clinical studies and trials to launch new treatments for parasitic infections is creating a positive outlook for the market. Furthermore, the surging prevalence of gastrointestinal disorders among the masses and the increasing aging population that are more susceptible to developing these ailments is propelling the growth of the market.

Paromomycin Sulphate Market Trends/Drivers:

Surging prevalence of parasitic infections

The rising incidence of parasitic infections, such as amoebiasis and giardiasis, with poor sanitation and limited access to clean water represents one of the primary factors driving the demand for paromomycin sulphate around the world. These infections pose a significant public health burden and can lead to severe complications if left untreated. Paromomycin sulphate, a broad-spectrum antibiotic, is highly effective against various parasites, including Entamoeba histolytica and Giardia lamblia. Its ability to target and eliminate these pathogens has made it a crucial treatment option in the medical community.

Rising awareness about the easy availability of diagnosis of parasitic infection

The growing awareness and improved diagnostic capabilities for parasitic infections is catalyzing the demand for paromomycin sulphate. Advances in medical technology and increased focus on infectious diseases have led to better detection and diagnosis of parasitic infections. This has resulted in higher rates of diagnosis, as more cases are identified and properly classified. Consequently, healthcare providers are prescribing paromomycin sulphate more frequently to treat these diagnosed cases. Furthermore, increased awareness among healthcare professionals and patients about the potential complications and long-term health effects of parasitic infections has led to a proactive approach in seeking treatment. Paromomycin sulphate, known for its efficacy against various parasites, has become a sought-after medication due to its established track record in successfully treating these infections, which results in an increased demand for the drug.

Growing travel activities

The increasing global travel and migration patterns are catalyzing the demand for paromomycin sulphate. People traveling or migrating from regions with a high prevalence of parasitic infections may require effective treatment upon return. Additionally, individuals from endemic regions relocating to non-endemic areas may introduce these infections to new populations. Paromomycin sulphate, as an effective treatment for various parasitic infections, plays an important role in managing and preventing the spread of these diseases. Healthcare professionals often prescribe paromomycin sulphate as a preventive measure for individuals at risk of acquiring parasitic infections during their travels or for those residing in regions wherein these diseases are endemic. The rising mobility of populations across borders and continents is also fueling the demand for paromomycin sulphate.

Paromomycin Sulphate Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global paromomycin sulphate market report, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on application and distribution channel.

Breakup by Application:

• Paromomycin Sulphate Capsule
• Paromomycin Sulphate Injection
   

Paromomycin sulphate capsule dominates the market

The report has provided a detailed breakup and analysis of the paromomycin sulphate market based on the application. This includes paromomycin sulphate capsule and paromomycin sulphate injection. According to the report, paromomycin sulphate capsule represented the largest segment. Paromomycin sulfate capsule is typically used for the treatment of intestinal infections caused by certain parasites, such as Giardia lamblia and Entamoeba histolytica. It is taken orally, usually with meals, as directed by a healthcare professional. It is essential to complete the full course of treatment prescribed by the healthcare provider to effectively eradicate the parasites.

Paromomycin sulfate injection is used in the treatment of various systemic infections caused by susceptible bacteria. It is primarily utilized in cases wherein oral administration is not possible or when a more immediate effect is required. It is given intravenously or intramuscularly.

Breakup by Distribution Channel:

• Retail Pharmacies
• Online Drug Stores
• Hospital Pharmacies
• Others
   

Hospital pharmacies hold the largest market share

A detailed breakup and analysis of the paromomycin sulphate market based on the distribution channel has also been provided in the report. This includes retail pharmacies, online drug stores, hospital pharmacies, and others. According to the report, hospital pharmacies accounted for the largest market share. Paromomycin sulphate injection, which is often used for systemic infections, is typically distributed through hospital pharmacies. These pharmacies stock various medications needed for inpatient and outpatient treatments within the hospital setting. Paromomycin sulphate injections can be dispensed directly from the hospital pharmacy to the patients when these injections are prescribed by healthcare professionals. Hospital pharmacies ensure that the medication is administered safely and appropriately under the supervision of healthcare providers.

Retail pharmacies, such as independent pharmacies and chain pharmacies, play a significant role in the distribution of medications like paromomycin sulphate. Patients can obtain their prescriptions from healthcare providers and have them filled at these pharmacies. The medication is dispensed to patients in the form of capsules or other suitable forms, accompanied by appropriate instructions and counselling from the pharmacist.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others 
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa.

Competitive Landscape:

The leading companies are focusing on using nanotechnology that involves the manipulation and application of materials at the nanoscale level. Nanoparticles and nanocarriers can be designed to encapsulate paromomycin sulfate, which improves its solubility, stability, and targeted delivery to specific sites of infection. Nanotechnology-based formulations can enhance the bioavailability, and efficacy of drugs and potentially reduce their side effects. Moreover, key players are integrating advanced analytical techniques and quality control processes to ensure the safety, efficacy, and purity of pharmaceutical products, including paromomycin sulphate. These advanced techniques also enable precise identification, quantification, and characterization of active ingredients, impurities, and degradation products. We expect the market to witness new entrants, alliance of portfolios and increased partnerships to drive healthy competition within the industry.

The report has provided a comprehensive analysis of the competitive landscape in the global paromomycin sulphate market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• ERFA Canada 2012 Inc. (Searchlight Pharma Inc.)
• Pfizer Inc.

Recent Developments:

• In May 2018, Searchlight Pharma Inc. announced signing of exclusive license for commercialization of Estelle in Canada, which is a novel combined oral contraceptive (COC) product candidate.
• In 2020, Pfizer Inc. and Clear Creek Bio collaborated on a Research Program Targeting SARS-CoV-2 Papain-Like Protease.

Paromomycin Sulphate Market Report Scope:

Key Questions Answered in This Report:

• How has the global paromomycin sulphate market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global paromomycin sulphate market?
• What is the impact of each driver, restraint, and opportunity on the global paromomycin sulphate market?
• What are the key regional markets?
• Which countries represent the most attractive paromomycin sulphate market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the paromomycin sulphate market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the paromomycin sulphate market?
• What is the competitive structure of the global paromomycin sulphate market?
• Who are the key players/companies in the global paromomycin sulphate market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the paromomycin sulphate market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global paromomycin sulphate market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the paromomycin sulphate industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.