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The antimicrobial therapeutics market involves drugs that either kill or inhibit the growth of microorganisms like bacteria, viruses, fungi or parasites. These drugs help in treating or preventing infectious diseases and includes natural and synthetic antibiotics, antivirals, antifungals and antiparasitic. The increasing prevalence of infectious diseases due to factors such as antibiotic resistance, lifestyle changes, environmental pollution etc. has driven the demand for effective antimicrobial drugs. Antimicrobial therapeutics help in effectively treating diseases like pneumonia, tuberculosis, HIV/AIDS, malaria etc. that significantly impact public health.
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., Inc., 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.
The market provides significant growth opportunities due to rising R&D investments towards development of novel drug formulations, therapies and technologies. The antibiotics and vaccines against drug-resistant microbial infections present lucrative opportunities.
Technological advancements such as development of narrow-spectrum drugs, combined drug formulations, monoclonal antibodies etc. help improve efficacy and reduce side effects of antimicrobial treatment. Discovery of effective antimicrobial drugs and vaccines against emerging and re-emerging infectious diseases through novel drug delivery approaches also drives market growth.
Market drivers
Increasing investments by leading players towards development of novel drug candidates to counter antimicrobial resistance is a key growth driver. Rising prevalence of infectious diseases in developing nations also boosts demand for affordable and effective treatment options. Growing awareness regarding treatment of infectious diseases and availability of generic drugs further support the antimicrobial therapeutics market expansion.
Current challenges in the Antimicrobial Therapeutics Market:
Rising levels of drug resistance due to overuse and misuse of antimicrobials is a major challenge in this market. Bacteria are evolving faster than new drugs can be developed to fight them. This drug resistance is increasing the burden of various infectious diseases and reducing treatment options. Furthermore, lengthy and costly drug development processes make it difficult for companies to invest substantially in developing new classes of antimicrobials. Due to low returns, many large pharmaceutical companies are exiting the antimicrobial drug development business which will negatively impact long term market growth. Overall, antimicrobial resistance poses the greatest threat to public health today and effective strategies are needed to conserve the effectiveness of existing drugs in this field.
SWOT ANALYSIS
Strength: Wide range of antibiotic drugs used for treating various bacterial infections. Growing awareness and healthcare expenditure in emerging nations.
Weakness: Increasing threat of antimicrobial resistance reducing effectiveness of drugs. Not much new drug development happening in the last few decades.
Opportunity: High unmet need in developing new classes of antibiotics to treat drug resistant infections. Growing government support and funding for antibiotic research.
Threats: Lengthy and expensive drug discovery process discourages investments. Possible over-regulation can negatively impact product approvals.
The United States accounts for the largest share in the antimicrobial therapeutics market currently due to large healthcare expenditure and presence of major players. However, the market in Asia Pacific region is expected to grow at the fastest pace during the forecast period driven by expansion of healthcare infrastructure and increasing spending power in India and China. These emerging nations are expected to handle a major share of global antibiotic demand in the coming years.
The antimicrobial therapeutics market sees maximum value concentrated in North America currently owing to high adoption of new drugs and presence of leading companies. The Asia Pacific region holds significant growth potential for this market. Rising incomes, growing medical tourism industry and expanding health insurance coverage in countries like India and China are poised to drive the demand for antimicrobial drugs in Asia Pacific region at a rapid rate over the next few years.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
