by The antimicrobial therapeutics market comprises pharmaceutical drugs that are used to treat or prevent bacterial and fungal infections. Such drugs include antibiotics, antifungals, antiprotozoals, and antivirals that help eliminate or suppress the growth of microorganisms. Antibiotics are the most commonly used antimicrobial drugs for treating bacterial infections like pneumonia, urinary tract infections, skin infections, etc. The growing threat of drug resistance has fueled the need for developing new antimicrobial drugs.
The global antimicrobial therapeutics market is estimated to be valued at US$ 122.89 billion in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
In the Antimicrobial Therapeutics Market growth this significant growth can be attributed to the rising prevalence of infectious diseases due to growing antibiotic resistance. The growing geriatric population who are more prone to infections, increased incidence of HIV/AIDS cases, and a large patient pool undergoing surgeries and procedures further drive the demand for antimicrobial drugs.
Key Takeaways
Key players operating in the antimicrobial therapeutics market are Pfizer Inc., Johnson and
Johnson, GlaxoSmithKline plc, Merck and Co., Inc., Novartis AG, F. Hoffmann-La Roche
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. and Alembic Pharmaceuticals Limited. These major players are focusing on new product launches, geographical expansion and acquisition strategies to gain a competitive advantage in the market.
The key opportunities in the antimicrobial therapeutics market include growing investments towards developing novel antimicrobial compounds to overcome drug resistance. Moreover, the rising demand for generic drugs also presents lucrative prospects for market players.
The increasing global burden of infectious diseases is fueling the demand for antimicrobial drugs across international markets. The emergence of new markets in Asia Pacific and Latin America and growing healthcare expenditure in developing nations will further support the global expansion of the antimicrobial therapeutics industry over the forecast period.
Market Drivers
The rising prevalence of infectious diseases worldwide is the major driver propelling the growth of the antimicrobial therapeutics market. According to the WHO, infectious diseases account for around 26% of global deaths. Factors such as growing antibiotic resistance, lack of sanitation, unsafe water, and increase in immuno-compromised patients have contributed to the increased incidence of infections. Additionally, the continuous innovations in drug delivery technologies, emergence of novel drug targets, and development of combination therapies would provide positive momentum to the market growth during the analysis period.
PEST Analysis
Political: Regulation related to antimicrobial resistance is gradually getting stronger across regions like restrictions on over-the-counter sales of certain antibiotics without a prescription in order to prevent overuse and development of resistance.
Economic: In the Antimicrobial Therapeutics Market Challenges and Opportunities rising healthcare expenditure globally is positively impacting the market as many patients opt for branded patented drugs over generics. However, economic slowdowns can negatively affect the market.
Social: Rising public awareness about antimicrobial resistance and importance of completing the prescribed course of antibiotics is boosting demand for effective new treatment options in this space.
Technological: Companies are investing heavily in research and development of novel drug delivery systems and advanced formulation technologies to expand treatment solutions and ensure patient compliance.
The geographical regions where the market is currently concentrated in terms of value are North America and Europe collectively accounting for over 60% share due to advanced healthcare systems and high per capita healthcare spending in countries like the US and Germany. The Asia Pacific region is poised to be the fastest growing market during the forecast period owing to substantial economic growth, huge patient population and improving access to healthcare in nations such as India and China.
The US market currently leads in terms of value worldwide buoyed by the presence of major pharmaceutical players, robust generic market and one of the highest healthcare spends globally. However, China and India are anticipated to witness strong double digit CAGR during the forecast period on account of expanding medical insurance penetration, growing incidence of infectious diseases and increasing prominence of local manufacturers in these markets.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
