by Market Overview:
Antimicrobial therapeutics are drugs used to treat and prevent infectious diseases caused by parasites, bacteria, viruses, and fungi. Antibiotics, antifungals, antivirals, antiparasitics are some of the major classes of antimicrobial therapeutics. They are critical for treating infectious diseases and reducing the spread of epidemics.
Market key trends:
Increasing prevalence of antimicrobial resistance is a major driver for the market. According to the Centers for Disease Control and Prevention, over 2.8 million antibiotic-resistant infections occur in the United States each year, with more than 35,000 people dying as a direct result. Growing misuse and overuse of antibiotics has contributed to this rise. As a result, there is increased focus on developing novel antimicrobial drugs that can overcome resistance. Furthermore, the market is witnessing a shift from conventional small molecule antibiotics to advanced therapies such as biologics, probiotics, and preventive vaccines, which are more target specific and less prone to resistance.
The antimicrobial therapeutics market is witnessing increased demand for novel antimicrobial drugs to combat drug-resistant microbial infections. There is a rise in research activities focused on developing effective therapeutics against antimicrobial-resistant pathogens such as methicillin-resistant Staphylococcus aureus and multidrug-resistant tuberculosis. Moreover, increasing investments by pharmaceutical companies in antimicrobial R&D are expected to introduce new treatment options and thereby drive the market growth over the forecast period.
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.
SWOT Analysis:
Strength: Wide range of antimicrobial drugs available for treatment of various infections.
Weakness: Emergence of drug-resistant microbial strains posing treatment challenges.
Opportunity: Rising healthcare expenditure in developing nations creating demand for innovative drugs.
Threats: Stringent regulatory norms for drug approval delaying market entry of new drug candidates.
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 worldwide.
The North America region dominates the antimicrobial therapeutics market currently owing to robust healthcare infrastructure and growing R&D investments for novel drug development in the region.
Key players operating in the antimicrobial therapeutics market 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
