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The antimicrobial therapeutics market comprises antimicrobial drugs that are used to treat infectious diseases caused by pathogenic microorganisms such as bacteria, viruses, fungi, and parasites. Antimicrobial drugs include antibacterial, antifungal, antiviral, and antiparasitic drugs. These drugs help in killing or inhibiting the growth of microorganisms that can cause diseases. The rising prevalence of infectious diseases and growing need to manage antimicrobial resistance is driving the demand for antimicrobial therapeutics globally.
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.. These players are focusing on developing novel drugs through research and development activities and adopting strategic initiatives such as mergers, acquisitions, and partnerships to strengthen their market foothold.
The rising prevalence of infectious diseases globally is fueling the growth of the antimicrobial therapeutics market. As per the World Health Organization (WHO), infectious diseases account for approximately 26% of global mortality annually. Changing lifestyle patterns and lack of sanitation facilities in emerging nations contribute to the increasing disease incidence rates.
The antimicrobial therapeutics market is witnessing strong growth in emerging nations due to growing healthcare infrastructure, increasing disposable income, expanding patient pool, and rising awareness regarding availability of advanced treatment options. Along with this, supportive government initiatives and programs for spreading awareness about infectious diseases in developing countries offer lucrative opportunities for antimicrobial therapeutics market players.
Market Key Trends
The development of advanced antimicrobial drugs with novel mechanisms of action is a key trend gaining traction in the antimicrobial therapeutics market. With the growing issue of antimicrobial resistance, there is a need to discover and develop new drugs. Many leading drug makers are working on developing antimicrobials with different mechanisms of actions such as inhibiting bacterial secretion system, targeting bacterial metabolism, blocking downstream signaling of virulence factors, and developing antiviral therapies with novel viral targets. Further, companies are investing heavily in R&D to develop narrow-spectrum antimicrobials with adequate safety profiles to overcome antimicrobial resistance issues associated with broad-spectrum drugs.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the antimicrobial therapeutics market is moderate due to high capital requirements and established brand loyalty of existing major players.
Bargaining power of buyers: The bargaining power of buyers in the antimicrobial therapeutics market is moderate due to the presence of a large number of existing and emerging players.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the fragmented nature of raw materials and the availability of substitutes.
Threat of new substitutes: The threat of new substitutes is moderate due to the development of alternative treatment options.
Competitive rivalry: The competitive rivalry is high due to the presence of many global and local players competing on drug efficacy, innovation, and price.
Geographical regions
North America currently holds the largest share of the global antimicrobial therapeutics market, both in terms of value and volume. This is attributed to the growing incidence of infectious diseases and established healthcare infrastructure in the region.
The Asia Pacific region is expected to experience the fastest growth during the forecast period. This can be attributed to the increasing healthcare expenditure, rising awareness about treatment of infectious diseases, and expansion of private-sector hospitals in emerging economies such as China, India, Indonesia, and Vietnam in this region.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
