Antimicrobial Therapeutics Market Size Worth USD 152.2 Billion by 2032 at 5.30% CAGR – Report by Market Research Future (MRFR)

New York, USA, July 27, 2023 (GLOBE NEWSWIRE) — Antimicrobial Therapeutics Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Antimicrobial Therapeutics Market Information By Application, End User and Region – Market Forecast Till 2032”, the market size was valued at USD 95.6 Billion in 2022 and is projected to grow from USD 100.7 Billion in 2023 to USD 152.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 – 2032).

Market Scope:

As soon as the diagnosis is suspected, antimicrobial therapeutics should begin when the cultures of the synovial fluid are taken. Significant cartilage damage may occur if antimicrobial treatment is delayed. Antimicrobial treatment is the backbone of care since it has a high cure rate and a low relapse rate. In mild, recently developed cases of Buruli ulcer, antimicrobial therapy alone is highly effective.

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Report Scope:

Antimicrobial Therapeutics Market Competitive Outlooks:

Key Companies in the market of antimicrobial therapeutics include.

• AbbVie Inc.
• Astellas Pharma Inc.
• Bavarian Nordic AS
• Biocidium Biopharmaceuticals Inc.
• Bristol Myers Squibb Co.
• Cadila Pharmaceuticals Ltd.
• CSL Ltd.
• Emergent BioSolutions Inc.
• 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
• Wockhardt Ltd.

Antimicrobial Therapeutics Market Trends:

Market Drivers

Market growth is being spurred on by factors such as the rising incidence of infectious diseases and supportive government policies. Prescription patterns for novel antibacterial drugs are also expected to shift in response to the growth of antibiotic-resistant diseases caused by the incorrect or excessive use of antibiotics. Key market factors promoting market growth include new drug approvals, a robust pipeline, government agency activities, and increased understanding of microbial illnesses.

Pharmaceutical companies’ increased efforts to find novel medicines for infectious disorders are expected to drive the market throughout the forecast period. As the number of people who contract infectious diseases increases, so does the demand for antibiotics. The rising number of cases of infectious diseases like pneumonia, malaria, and tuberculosis is also contributing to the market’s development. The development of new antibiotics and helpful regulatory guidelines is being pushed forward by government and non-government entities that are being pressured to participate in R&D programs in order to speed up the approval process and research financing.

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Market Restraints

Growing generic drug competition is one factor that could slow the worldwide antimicrobial therapies industry during the next few years. As a result of patent expiration and loss of exclusivity, suppliers are emphasizing production of low-cost alternatives to approved medicines.

COVID-19 Analysis:

Antimicrobial-resistant infections were increasingly common in hospitals and other healthcare facilities in the United States. As a result of caring for sicker patients, hospitals had difficulty keeping supplies of PPE on hand, staffing shortages, and longer patient visits, and they also saw an increase in the usage of medical devices like catheters and ventilators. The national initiatives to reduce the prevalence of antibiotic resistance also played an important role in halting the spread of COVID-19.

Antimicrobial Therapeutics Market Segmentation:

By Application

In 2022, antivirals commanded the lion’s share of the pharmaceutical industry. The increased incidence of infectious diseases like influenza, hepatitis, COVID-19, and HIV/AIDS is driving the market growth. Since remdesivir was one of the chemicals being investigated for the treatment of COVID-19, the emergence of pandemic illnesses like COVID-19 also increased the demand for antiviral drugs. Therefore, the global spread of viral illnesses is anticipated to fuel market expansion throughout the foreseen time frame.

By End User

The 2022 market share for pharmacies was higher than any other category. The need for antibacterial drugs is growing rapidly, but the limited number of drugs in development is limiting the market’s potential. The governments of many countries are working hard, and it is expected that this would lead to an increase in the creation of branded pharmaceuticals.

Antimicrobial Therapeutics Market Regional Analysis:

In 2022, 45.80% of the global antimicrobial therapeutics market was generated in North America. These economies feature sophisticated healthcare systems and well-developed regulatory frameworks. The proliferation of infectious diseases and the consequent expansion of public healthcare spending are two factors driving growth in the North American market. The United States is taking several measures, including increasing research and development for new medications to treat infectious diseases and launching antibiotic stewardship programs. Additionally, the market share for antimicrobial therapies was biggest in the United States, but the industry was expanding at a faster rate in Canada.

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The market for antimicrobial therapeutics is particularly large in Europe. The rapid expansion of healthcare infrastructure in several European nations, increased investment in research and development activities, and the rising number of hospitals in the region are the key factors driving the demand for these pharmaceuticals in the European market. Additionally, Germany had the largest market for antimicrobial treatments, while the United Kingdom was the fastest expanding market in Europe.

From 2023 to 2032, the market for antimicrobial therapeutics is projected to expand rapidly in Asia Pacific. This can be traced back to the growth in antibiotic overuse, the increase in the prevalence of infectious diseases, and the increase in government initiatives to develop new treatments to combat drug-resistant infections. The expansion of the local market is further aided by the presence of generic competitors. India and China make up the bulk of the region’s antibiotics markets. In these nations, unrestricted sales and overuse of antibiotics are propelling market growth. In addition, China’s antimicrobial therapies market accounted for the greatest proportion of the market, while India’s was the fastest expanding market in the Asia-Pacific region.

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