Antimicrobial Therapeutics Is Fastest Growing Segment Fueling The Growth Of Antimicrobial Therapeutics Market

https://www.coherentmarketinsights.com/market-insight/antimicrobial-therapeutics-market-5845
Antimicrobial Therapeutics Market



Market Overview:

Antimicrobial therapeutics are medicines used to treat microbial infections such as bacteria, fungi, viruses and other parasites. Antimicrobial drugs help inhibit the growth of harmful microbes or destroy them. They play a crucial role in the treatment of infectious diseases like pneumonia, tuberculosis and HIV/AIDS.

Market key trends:
One of the major trends in the antimicrobial therapeutics market is the rising incidence of antimicrobial resistance. Overexposure and misuse of antimicrobial drugs has led to the development of drug-resistant microbes that do not respond to antimicrobial therapies. This poses a serious threat to public health. As per the WHO, antimicrobial resistance is growing worldwide and around 700,000 deaths are caused annually due to drug-resistant infections. Pharmaceutical companies are investing heavily in R&D to develop novel antimicrobial drugs that can effectively treat drug-resistant microbial infections.

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.

Segment Analysis
The global antimicrobial therapeutics market is segmented based on product type, disease, distribution channel and region. Based on product type, the market is divided into antibacterial drugs, antifungal drugs, antiviral drugs and others. The antibacterial drugs segment dominates the global market and accounted for the largest market share in 2023. This is mainly attributed to the high prevalence of bacterial infections globally and increasing antibacterial resistance.

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.

Market size: The global antimicrobial therapeutics market size was valued at US$ 219.80 Bn in 2023.

Regional analysis: North America dominated the global market in 2023 and is expected to remain the largest market during the forecast period. This is attributed to the presence of key pharmaceutical companies and advanced healthcare infrastructure in the region. Asia Pacific is projected to grow at the fastest rate owing to increasing healthcare expenditure and large patient pool suffering from infectious diseases.

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. Pfizer Inc. dominated the global market in 2023 owing to its wide product portfolio and strong geographic presence across the globe.

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