The Infectious Disease Therapeutics Market is estimated to be valued at US$ 170.67 Bn or Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Infectious diseases are caused by pathogenic microorganisms such as bacteria, viruses, parasites or fungi that can be spread, directly or indirectly, from one person to another. The major infectious diseases include hepatitis, HIV/AIDS, influenza and tuberculosis. Infectious disease therapeutics include antimicrobial drugs such as antibiotics, antivirals and antifungals that help treat and cure these diseases. Antibiotics are commonly prescribed to treat bacterial infections while antiviral drugs are used for viral infections such as HIV, influenza and hepatitis.
Market Dynamics:
The growing prevalence of infectious diseases globally is a major driver for the infectious disease therapeutics market. As per the World Health Organization (WHO), infectious diseases account for approximately 17 million deaths annually across the world. The increasing resistance of microorganisms to existing antibiotics and antimicrobial drugs is necessitating the development of novel drugs, boosting market growth. Furthermore, rising healthcare expenditures and improved access to healthcare services in developing countries are allowing more number of people to seek treatment, thereby augmenting the market expansion. Lastly, growing R&D activities from major pharmaceutical companies for developing new drug formulations is expected to present lucrative opportunities over the forecast period.
Segment Analysis
The Infectious disease therapeutics market is dominated by antibacterial drugs segment which holds more than 30% share of the total market. This is because bacterial infections remain one of the major causes of mortality and morbidity worldwide, especially in developing regions. Within antibacterial drugs segment, broad-spectrum antibacterials sub-segment generates the highest revenue as they are effective against wide range of bacteria.
PEST Analysis
Political: Governments worldwide are increasing their healthcare budgets to support research and development of new drugs to fight antimicrobial resistance. Various initiatives are being taken to facilitate drug development process.
Economic: Rising incidence of infectious diseases coupled with increasing per capita healthcare expenditure in emerging nations is fueling the market growth. However, price controls imposed by several countries can hamper revenue generation.
Social: Growing public health awareness and demand for advanced therapeutics is a key factor spurring the infectious disease therapeutics adoption. Moreover, increased life expectancy has risen the susceptibility to various infections.
Technological: continuous R&D to develop safer, low-cost and targeted drugs with novel mechanisms of action provides growth opportunities to manufacturers. Adoption of advanced drug delivery methods and companion diagnostics help provide personalized treatment.
Key Takeaways
The Global Infectious Disease Therapeutics Market Demand is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing prevalence of multi-drug resistant microbial infections and limited number of new antibacterial products in the pipeline.
The Asia Pacific region is projected to grow at the fastest pace during the forecast period. This is attributed to rising healthcare expenditure, availability of low-cost generics, and increasing patient population in China and India. Furthermore, growing penetration of health insurance and improving access to healthcare services will further aid regional market growth.
Key players operating in the Infectious Disease Therapeutics are Pfizer Inc. (U.S.), GlaxoSmithKline plc. (U.K), Merck & Co. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), AstraZeneca (U.K), Mylan N.V. (U.S.), Novartis AG (Switzerland), Sanofi (France). These players are focusing on new product launches, agreements, collaboration, and geographical expansion to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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