Global Antimicrobial Therapeutics Market Research Report: Information By Application (Antiviral, Antibacterial, Antifungal, and Antiparasitic), By End User (Pharmacies, Hospitals and Clinics, and Research and Academic Institutes), and By Region (North America, Europe, Asia-Pacific, and Rest of The World) – Market Forecast Till 2032.
According to a new report by IMIR Market Research on Global Antimicrobial Therapeutics Market Size was valued at USD 96.0 Billion in 2022. The Antimicrobial Therapeutics market industry is projected to grow from USD 101.20 Billion in 2023 to USD 153.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2023 - 2032).
The pharmaceutical sector is successful due to recent drug approvals, a robust pipeline, government agency activities, and expanding knowledge of microbial diseases, are the key market drivers enhancing the market growth.
The Antimicrobial Therapeutics market research report comprises a thorough examination of the current and future scenario of this industry vertical. The research highlights major trends and opportunities, as well as challenges, for various segments and sub-segments, while broadening the company horizon. The study report also includes extensive information based on past and present patterns across several industry verticals to help find various expansion prospects. Throughout the forecast period, several estimations regarding market share, market size, and industry growth rate are presented. The research includes information on competitive analysis as well as consumption habits and pricing strategies depending on the Antimicrobial Therapeutics market.
Antimicrobial Therapeutics Market Trends
The market is primarily driven by favorable regulatory policies and the rising occurrence of infectious diseases. Furthermore, it is projected that an increase in infections with antibiotic resistance spurred on by misuse or overuse of antibiotics will alter prescription trends for cutting-edge drugs to treat bacterial infections. Over 2.8 million infections that are resistant to antibiotics are thought to exist in the US, according to the CDC. The resistance rate for illnesses including Enterobacteriaceae, P. aeruginosa, and K. pneumoniae is high in wealthy countries, averaging 40%.
Pharmaceutical companies' increased attempts to find novel cures for infectious diseases are predicted to boost the market during the forecasted period. According to Pew Charitable Trust, around 41 potential substances were being studied in December 2019 for the treatment of harmful bacterial infections. It is projected that 17 of these 41 experimental drugs will be on sale during the projection period since they are either in the third stage of clinical trials or have submitted an NDA for approval. In the second half of 2019, the American FDA authorized the use of four new antibiotic drugs. Furthermore, it is envisaged that beneficial government regulations, such the GAIN Act and REVAMP Act, will speed the clearing procedure internationally. The release of novel antibiotic drugs is anticipated to encourage market increase over the course of the projected timeframe.
The need for antibiotics has increased significantly as a result of the increase in infectious disease incidences. The high incidence of infectious diseases such lower respiratory infections, pneumonia, malaria, and tuberculosis is another driver propelling the market's rise. In order to expedite the approval process and research funding, government and non-government entities are being compelled to spend in R&D programs, enhance the development of novel antibiotics, and develop supportive regulatory standards. For instance, BARDA has assisted many companies in working with the government to create cutting-edge medicines for infectious diseases. Thus, driving the Antimicrobial Therapeutics market revenue.
Antimicrobial Therapeutics Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Antimicrobial Therapeutics market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Antimicrobial Therapeutics sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Antimicrobial Therapeutics sector. Major players in the Antimicrobial Therapeutics market, including AbbVie Inc., Astellas Pharma Inc., Bavarian Nordic AS, Biocidium Biopharmaceuticals Inc., Bristol Myers Squibb Co., Cadila Pharmaceuticals Ltd., CSL Ltd., Emergent BioSolutions Inc., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Inovio, Pharmaceuticals Inc., Johnson and Johnson Services Inc., Merck and Co. Inc., Mitsubishi Tanabe Pharma Corp., Novartis AG, Novavax Inc., Pfizer Inc., Sanofi SA, and Wockhardt Ltd., are attempting to increase market demand by investing in research and development operations.
Global generic pharmaceutical firm Sandoz Inc., a unit of Novartis AG, develops, produces, sells, and distributes a variety of prescription drugs, protein products, and biosimilars. Additionally, Sandoz provides other businesses with intermediary goods including active pharmaceutical ingredients (APIs) and services for biotechnology manufacture. For a variety of therapeutic fields, including dermatology, cancer, cardiovascular, respiratory, metabolic, central nervous system, pain management, ophthalmology, gastrointestinal, and hormone therapies, the company provides active ingredients and completed dosage forms. Wholesalers, pharmacies, hospitals, and other healthcare facilities receive Sandoz's products for distribution. With its headquarters in Princeton, New Jersey, the United States, Sandoz has improved its market share by acquiring GSK's cephalosporin division in February 2021.
A biopharmaceutical firm called Pfizer Inc. is engaged in the research, development, production, and marketing of medical products. Treatments for a range of ailments are included in Pfizer's product line, including those for cancer, inflammation, immunological disorders, rare diseases, women's health, metabolic disorders, cardiovascular diseases, and pain management. Additionally, the business provides contract manufacturing services, sterile injectable drugs, biosimilars, and active pharmaceutical ingredients (APIs). A definitive deal was signed between Pfizer and Mylan in July 2019, and as a result, Viatris was born. Pfizer has been able to increase its global reach thanks to this deal.
Key Companies in the Antimicrobial Therapeutics market include
Antimicrobial Therapeutics Industry Developments
September 2021: According to a statement from Myovant Sciences and Pfizer Inc., the U.S. Food and Drug Administration (FDA) has accepted for review a supplemental New Drug Application (sNDA) for MYFEMBREER (relugolix 40 mg, estradiol 1 mg, and norethindrone acetate 0.5 mg) for the treatment of moderate to severe pain brought on by endometriosis.
July 2021: AstraZeneca established a partnership with Regeneron to undertake research, create, and commercialize small molecule drugs against the GPR75 target with the potential to treat obesity and related co-morbidities.
Antimicrobial Therapeutics Market Segmentation Analysis:
Antimicrobial Therapeutics Application Outlook
Antimicrobial Therapeutics End User Outlook
Antimicrobial Therapeutics Market Segment Insights
The global Antimicrobial Therapeutics market segmentation, based on Application, includes antiviral, antibacterial, antifungal, and antiparasitic. The antiviral market sector had the most market share in 2022. The segment's growth is being driven by the increasing occurrence of viral illnesses such the flu, hepatitis, COVID-19, and HIV/AIDS. Remdesivir was one of the chemicals being researched for the treatment of COVID-19, hence the rise of pandemic diseases like COVID-19 increased the need for antiviral drugs. Therefore, during the projection period, the global spread of viral illnesses is anticipated to support market expansion.
The global Antimicrobial Therapeutics market segmentation, based on End User, includes pharmacies, hospitals and clinics, and research and academic institutes. In 2022 the pharmacy industry held a higher share of the market. Although the economic possibilities for antibacterial drugs are already constrained by the relatively narrow pharmacological pipeline, the market for these products is growing substantially. But it is anticipated that as a result of the rigorous efforts made by the governments of many countries, particularly in Europe and North America, the development of branded pharmaceuticals would increase. To help in the development of new antibacterial drugs, the U.S. Food and Drug Administration announced in February 2021 the creation of the Antibacterial Drug Development Task Force at the Center for Drug Evaluation and Research (CDER). In the future, pharmacies will also serve as a full-fledged distribution channel, supporting prescription validity and facilitating same-day or next-day delivery. Recent World Health Organization research indicates that one in ten of the medical supplies in use in low- and middle-income countries are either poor or phony.
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Antimicrobial Therapeutics Market dominated this market in 2022 (45.80%). Both the regulatory environment and the healthcare infrastructure in these markets are highly developed. The rise of infectious diseases and increased government healthcare spending are two major factors driving the North American industry. The United States government is implementing a number of steps, including stepping up R&D for innovative medications to treat infectious diseases and launching antibiotic stewardship programs. Further, In the North American area, the U.S. Antimicrobial Therapeutics market had the biggest market share, while the Canada Antimicrobial Therapeutics market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The largest market share is accounted for by the antimicrobial therapeutics market in Europe. The rapid development of the healthcare infrastructure in a number of European countries, the rising investment in research and development activities, and the rising number of hospitals in the region are the main factors affecting demand for these pharmaceuticals in the European market. Further, In the European region, the German Antimicrobial Therapeutics market had the biggest market share, and the U.K. Antimicrobial Therapeutics market had the quickest rate of growth.
The Asia Pacific Antimicrobial Therapeutics market, is expected to register fastest growth from 2023 to 2032. This can be seen in the rising use of antibiotics, growth in infectious diseases, and rise in government initiatives to develop novel treatments to treat infections with drug resistance. The regional market also benefits from the presence of generic rivals. India and China are the two biggest markets in the area for antibiotics. Unrestricted sales and excessive antibiotic usage are the key forces behind market expansion in these nations. Moreover, In the Asia-Pacific region, the Indian Antimicrobial Therapeutics market had the quickest rate of growth while China's Antimicrobial Therapeutics market had the greatest market share.
Antimicrobial Therapeutics Market Report is also available for below Regions and Country Please Ask for that
Points Covered in the Report
Key Questions
Research Scope of Antimicrobial Therapeutics Market
Antimicrobial Therapeutics Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
Frequently Asked Questions
• The Pharmacies End User had the largest share in the global market.
• The Antiviral Application dominated the market in 2022.
• The key players in the market are AbbVie Inc., Astellas Pharma Inc., Bavarian Nordic AS, Biocidium Biopharmaceuticals Inc., Bristol Myers Squibb Co., Cadila Pharmaceuticals Ltd., CSL Ltd., Emergent BioSolutions Inc., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Inovio, Pharmaceuticals Inc., Johnson and Johnson Services Inc., Merck and Co. Inc., Mitsubishi Tanabe Pharma Corp., Novartis AG, Novavax Inc., Pfizer Inc., Sanofi SA, and Wockhardt Ltd.
• North America had the largest share in the global market
• The global market is projected to grow at a CAGR of 5.80% during the forecast period, 2023-2032.
• The global Antimicrobial Therapeutics market size was valued at USD 96.0 Billion in 2022.
Want to Review Complete Market Research Report
Customize this Report
Related Reports
Oxygen Therapy Market Demand, Growth, Size Industry Outlook Report (2023-2031)
October, 2024Phosphoric Acid Fuel Cell Market Growth & Industry Outlook Report (2024-2032)
October, 2024