Antimicrobial Therapeutics Market is Anticipated to Witness High Growth Owing to Increasing Prevalence of Infectious Diseases
Antimicrobial therapeutics are medications used to treat and prevent infectious diseases caused by microorganisms such as bacteria, viruses, fungi and parasites. Some common antimicrobial therapeutics include antibiotics, antifungals, antivirals and antiparasitics. The therapeutic modalities employ diverse mechanisms to inhibit the growth or survival of pathogens. They are extensively used for treating pneumonia, tuberculosis, gonorrhea, malaria and several other communicable diseases. The global burden of infectious illnesses has been on the rise primarily due to growing anti-microbial resistance, deteriorating hygiene and weakened immunity. According to the WHO, infectious diseases account for approximately 26% of global mortalities each year emphasizing the crucial need for effective antimicrobial therapeutics.
The Global antimicrobial therapeutics Market is estimated to be valued at US$ 219.80 Bn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the antimicrobial therapeutics are Pfizer Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Novartis AG, Roche Holding AG, AstraZeneca plc, Sanofi SA, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Inc., AbbVie Inc., Allergan plc, Mylan N.V. These companies collectively account for a majority market share owing to their diverse product portfolios and global distribution networks.
The global antimicrobial therapeutics market offers substantial opportunities for growth driven by rising R&D investments in novel drug classes and pathways. Further opportunities will arise from increased accessibility of existing drugs in developing countries through affordable generics.
Key players are expanding their geographic footprint through strategic collaborations and acquisitions to strengthen footholds in high-potential emerging markets of Asia Pacific, Latin America, Middle East and Africa. International organizations are also collaborating with pharmaceutical firms and governments to enhance antimicrobial availability, rational use and development globally.
Market drivers
Increasing prevalence of infectious diseases is a key driver for the antimicrobial therapeutics market. As per statistics, infectious illnesses account for approximately 1 in 4 deaths worldwide emphasizing the massive patient pool demanding treatment. Growing anti-microbial resistance also drives the need for novel drug classes and combination therapies with novel mechanisms of action.
Market restraints
However, the market faces challenges owing to rising R&D costs of new drug development and regulatory approvals. Lengthy clinical trials and stringent regulations further delay market entries. Additionally, lack of robust healthcare infrastructure and access in many developing nations restrain market potential in those regions.
Segment Analysis
The antimicrobial therapeutics market is segmented into product, disease, action mechanism, and route of administration. The product segment comprises antibacterial drugs, antifungal drugs, antiviral drugs, and others. Among these, the antibacterial drugs segment dominates the market as bacterial infections are highly prevalent and antibacterial drugs are commonly prescribed by physicians. Rising antibiotic resistance also contributes to the growth of this segment.
The disease segment is categorized into hospital-acquired infectious disease, community-acquired infectious disease, and others. Community-acquired infectious diseases form the largest segment as these occur very commonly in the general population. Rapidly growing geriatric population also escalates the risk of community-acquired infections.
Regional Analysis
North America region dominates the antimicrobial therapeutics market owing to advanced healthcare infrastructure, presence of major market players, and rising prevalence of infectious diseases. The United States holds the major share in the regional market. Europe follows North America in terms of market share due to growing awareness about antimicrobial resistance, rising antibiotic prescriptions, and presence of local generic manufacturers. Meanwhile, the Asia Pacific region is poised to experience the fastest growth over the forecast period considering the improving access to healthcare, large patient pool, and emergence of local pharmaceutical companies.
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