by Market overview:
Antimicrobial therapeutics refer to medicines used to treat bacterial and fungal infections. They include antibacterial, antiviral, antifungal and antiparasitic drugs. They work by either killing the pathogens or inhibiting their growth. The major classes of antimicrobial therapeutics market includes penicillin, cephalosporin, fluoroquinolones, macrolides and others. They are available in various dosage forms including tablets, capsules, creams, ointments etc. and are used to treat various infectious diseases like pneumonia, tuberculosis, HIV/AIDS, malaria etc.
Market dynamics:
Increasing prevalence of infectious diseases: The increasing incidence of infectious diseases worldwide due to factors like emerging microbial resistance, changing demographics, lack of sanitation and hygiene practices etc. is augmenting the demand for antimicrobial therapeutics. According to the World Health Organization (WHO), infectious diseases account for around 25% of global disease burden.
Rise in antimicrobial resistance: The overuse and misuse of antimicrobial therapeutics is leading to development of resistance in microbes. Growing antimicrobial resistance poses a serious threat as antimicrobial drugs available today are becoming ineffective against many pathogens. The Centers for Disease Control and Prevention (CDC) has reported rising antibiotic-resistant bacterial infections as one of the biggest public health challenges. This has prompted research into novel antimicrobial agents and therapies, thereby propelling market growth.
The global Antimicrobial Therapeutics Market Analysis is estimated to be valued at US$ 219.80 Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment analysis:
The antimicrobial therapeutics market is dominated by the broad-spectrum antibiotics sub-segment due to its high demand. Broad-spectrum antibiotics are effective against a wide range of bacterial infections caused by different types of bacteria. This helps in treating mixed bacterial infections more effectively as compared to narrow-spectrum antibiotics.
PEST analysis:
The stringent regulations surrounding the clinical trials and approval of new antimicrobial drugs high research and development costs pose challenges. However, favorable government support in terms of research funding promotes market growth.
Economic: The rising prevalence of infectious diseases and increasing healthcare expenditure in developing nations drive the demand. However, patent expirations of blockbuster drugs and cheaper generics impact revenues of major players.
Social: Increasing awareness about antibiotic resistance and growing need to curb its development augur well for the market. However, over-the-counter misuse and overprescription of antimicrobial drugs accelerates resistance.
Technological: Advances in drug discovery and development have led to the approval of novel drugs with superior efficacy and improved tolerability. Collaborations also boost R&D of advanced therapeutics.
Key takeaways:
The global antimicrobial therapeutics market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing prevalence of infectious diseases including lower respiratory infections.
Regionally, North America dominates the global market and is expected to continue its dominance during the forecast period attributed to growing infections, robust healthcare infrastructure and high adoption of novel antibiotic therapies. However, Asia Pacific is projected to grow at the fastest pace during the forecast period due to large population base, rising healthcare expenditure and increasing focus of global market players.
Key players operating in the antimicrobial therapeutics market are Pfizer Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Â Inc., Novartis AG, Roche Holding AG, AstraZeneca plc, Sanofi SA, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Â Inc., AbbVie Inc., Allergan plc, Mylan N.V. These players are largely focusing on strengthening their product portfolios through partnerships and launches.
Also More: Anticoagulant Market
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
