Ivermectin: From Discovery to Diversified Applications and Market Dynamics
Background and Properties
Ivermectin was discovered in the 1970s. Subsequently, with in-depth research, its favorable antibacterial and antiviral properties led to its gradual application in various fields, including aquaculture, agriculture, animal husbandry, medicine, pet drugs, and human health. In 2022, as overseas epidemic control gradually eased and the COVID-19 infected population surged, the demand for COVID-19 drugs was strong. The U.S. government’s official website recommending ivermectin for COVID-19 treatment further boosted rapid growth in the ivermectin market demand.
Diverse Applications
Ivermectin is a sixteen-membered ring macrolide antibiotic. It appears as a white crystalline powder, insoluble in water but easily soluble in solvents such as methanol, ethanol, acetone, and ethyl acetate. Ivermectin is a derivative of avermectin and is characterized by high efficacy, broad spectrum, and low toxicity. It can be used to kill nematodes, arthropods, and other parasites in domestic animals such as cattle, sheep, horses, and pigs. As a broad-spectrum antibacterial drug, ivermectin can also be used to treat respiratory infections, urogenital system infections, and gastrointestinal infections.
Key Manufacturers
According to the “2023-2028 Ivermectin Industry Market In-Depth Research and Investment Prospects Forecast Analysis Report” released by Sino-Synergy Industry Research Center, the patent protection period for ivermectin has now expired, and its formula has been disclosed, indicating that the drug’s safety and effectiveness have been verified. Ivermectin manufacturers include Merck (USA), North China Pharmaceutical Group, Huadong Medicine, Hebei Mehe Pharmaceutical, Shandong Qifa Pharmaceutical, Ningxia Taiyixin Biological, Weiyuan Pharmaceutical, and others.
Production and Costs
Ivermectin formulations include capsules, tablets, and injections, with different production processes and quality standards for each dosage form. The fermentation process of ivermectin has high requirements and high production costs, resulting in a relatively high product price. In recent years, to accelerate the development of the ivermectin market, domestic and foreign companies have been increasing their investment in ivermectin research and development, actively developing advanced production processes and safe, efficient new ivermectin drugs. Against this backdrop, the ivermectin industry is gradually moving towards high performance, low cost, high production efficiency, and high quality.
Innovation and Combinations
As an antibiotic, ivermectin also has disadvantages such as drug resistance and side effects. To improve the deworming effect and broaden the deworming range, ivermectin combination products have gained market attention. Common ivermectin combination products currently include ivermectin + albendazole, ivermectin + afoxolaner, fenbendazole + ivermectin, etc. Ivermectin is one of the most widely used ingredients in anthelmintic drugs, and with the development of combination products, its application scenarios will be further expanded.
Market Outlook
Analysts at Sino-Synergy Industry Research Center stated that ivermectin has the characteristics of high efficacy, broad spectrum, and low toxicity, and is widely used in animal husbandry, aquaculture, pet drugs, and medical fields. With the development of downstream markets, the application demand for ivermectin will be further released. However, as an antibiotic facing increasing restrictions, the ivermectin market faces both opportunities and challenges. Relevant companies should strengthen technological innovation, reduce costs, and closely monitor changes in policies and regulations to make timely adjustments.