Market Overview:
Antimicrobial therapeutics refer to medicines which either kill or inhibit the growth of microorganisms such as bacteria, viruses, fungi or parasites. These therapeutics play a vital role in treating infectious diseases. They include antibacterial drugs, antifungal drugs, antiviral drugs, and antiparasitic drugs. The increasing prevalence of infectious diseases globally is driving greater adoption of antimicrobial therapeutics. The therapeutics offer an effective means to reduce infections and improve patient outcomes.
Market key trends:
One of the key trends in the antimicrobial therapeutics market is the growing development of novel drug therapies. With the rise of antimicrobial resistance, pharmaceutical companies are investing heavily in R&D to develop new drug classes that can overcome resistance. For instance, monoclonal antibodies are being developed as alternatives to traditional antibiotics. These are more target specific and less prone to developing resistance. There is also significant focus on developing new therapies to treat resistant infections caused by “priority pathogens” identified by WHO such as carbapenem-resistant Acinetobacter, resistant Pseudomonas aeruginosa and multi-drug resistant Streptococcus pneumoniae. This ongoing development of novel drug therapies will support the expansion of the antimicrobial therapeutics market 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.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the antimicrobial therapeutics market is low due to the presence of high capital requirement for research and development. However, the threat is moderate due to increasing spending on healthcare research from companies.
Bargaining power of buyers: The bargaining power of buyers is high as the demand for antimicrobial products is growing and buyers can easily switch between various brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the key raw materials are commoditized and supply contracts are short term in nature.
Threat of new substitutes: The threat of new substitutes is low in the antimicrobial therapeutics market as there are limited treatment options for infectious diseases.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of major pharmaceutical companies.
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. The market size for 2023 is US$ 219.80 Bn.
Regional analysis
North America dominates the global antimicrobial therapeutics market owing to rising healthcare expenditure and high adoption of novel drugs in the region. Asia Pacific exhibits the fastest growth during the forecast period due to the increasing healthcare awareness and growing population in emerging countries like India and China.
Key players
Key players operating in the antimicrobial therapeutics market are Pfizer Inc., Johnson & Johnson, GlaxoSmithKline plc, Merck & Co., Â Inc., Novartis AG, Roche Holding AG, AstraZeneca plc, Sanofi SA, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Â 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
