The Acute Bacterial Skin And Skin Structure Infections market is estimated to be valued at US$ 3674.6 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Acute bacterial skin and skin structure infections (ABSSSI) refer to bacterial infections of the skin and its surrounding tissues. The infections arise due to various bacteria such as Staphylococcus aureus and Streptococcus pyogenes. The major cases treated in this market include carbuncles, infected eczema, and infected wounds. The products associated with this market include antibiotics such as cephalosporins, glycopeptides, lipoglycopeptides, oxazolidinones, tetracyclines, and others which are used for treating the infections.
Market Dynamics:
The increasing incidence of hospital acquired infections is a major driver estimated to fuel the growth of the global acute bacterial skin and skin structure infections market over the forecast period. According to the Centres for Disease Control and Prevention (CDC), around 1 in 31 hospital patients contract at least one hospital-acquired infection. In addition, the growing resistance towards conventional antibiotics is compelling the use of newer broad-spectrum antibiotics, thus augmenting the market growth. Furthermore, favourable reimbursement policies and government support for R&D of novel antibiotic drugs in developed regions such as North America and Europe are projected to boost the market growth during the forecast period.
SWOT Analysis:
The acute bacterial skin and skin structure infections market has a strong pipeline of drugs in the clinical trials and research phases Strength:which will drive the market growth over the forecast period. The increasing prevalence of diseases like cellulitis and infected ulcers will propel the demand for effective treatment options. Established reimbursement policies for antibacterial drugs treatment will further aid the market expansion.
Weakness: High research and development costs associated with new drug development poses major challenges for market players. Limited healthcare access and expenditure in underdeveloped regions can hamper the market growth.
Opportunity: Rising geriatric population prone to skin infections provides lucrative growth opportunities. Growing healthcare infrastructure and increasing disposable income in emerging countries will foster the market penetration.
Threats: Stringent regulations for drug approval is a major challenge. Potential side-effects and rising antibacterial resistance also threatens the market growth.
Key Takeaways:
The global Acute Bacterial Skin And Skin Structure Infections Market is expected to witness high growth, exhibiting CAGR of 6.0% over the forecast period, due to increasing prevalence of chronic wounds and skin ulcers. According to the World Health Organization, approximately 40-75% of elderly individuals in long-term care facilities have chronic wounds. Thus, increasing geriatric population is expected to propel the market growth.
North America dominates the global market and is expected to continue its dominance over the forecast period. This is attributed to well-established healthcare facilities, increasing insurance coverage, and growing prevalence of target diseases in the region. According to the U.S. Centers for Disease Control and Prevention, 20 to 40 per 1,000 people are annually affected by skin and soft tissue infections in the United States. Asia Pacific exhibits the fastest growth, owing to rising healthcare spending, increasing disposable incomes, and growing awareness regarding skin infections treatment.
Key players operating in the Acute Bacterial Skin And Skin Structure Infections market are Fresenius SE & Co. KGaA, Pfizer, Inc., Amneal Pharmaceuticals LLC, Intas Pharmaceuticals Ltd., Cadila Healthcare Ltd., Glenmark Pharmaceuticals Ltd, GlaxoSmithKline plc., Sun Pharmaceutical Industries Ltd., Sandoz Inc., Aurobindo Pharma Ltd., AbbVie, Inc., Melinta Therapeutics, Inc., Accord Healthcare Ltd., Merck & Co.
*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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