Market Research Future (MRFR) has published on the “Antimicrobial Therapeutics Market”
The global Antimicrobial Therapeutics market is accounted to register a CAGR of 5.30% during the forecast period and is estimated to reach USD 152.2 Billion by 2032.
The pharmaceutical industry's success is largely attributed to recent drug approvals, a robust pipeline, government agency activities, and expanding awareness of microbial diseases. These factors are the main market drivers boosting market growth. The market is primarily driven by favorable regulatory policies and the rising occurrence of infectious diseases. Furthermore, it is projected that an increase in infections with antibiotic resistance spurred on by misuse or overuse of antibiotics will alter prescription trends for cutting-edge drugs to treat bacterial infections.
MRFR recognizes the following companies as the key players in the global Antimicrobial Therapeutics market— AbbVie Inc., Astellas Pharma Inc., Bavarian Nordic AS, Biocidium Biopharmaceuticals Inc., Bristol Myers Squibb Co., Cadila Pharmaceuticals Ltd., CSL Ltd., Emergent BioSolutions Inc., F. 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, and Wockhardt Ltd.
The global antimicrobial therapeutics market has been segmented based application, end user.
On the basis of application, the market is segmented into antiviral, antibacterial, antifungal, and antiparasitic. The antiviral segment was attributed to holding the largest market share in 2022. The increasing incidence of viral infections including the flu, hepatitis, COVID-19, and HIV/AIDS is fueling the segment's expansion.
Based on end user, the global antimicrobial therapeutics market has been segmented into pharmacies, hospitals and clinics, and research and academic institutes. The pharmacies category had a greater market share in 2022 due to its increased availability at pharmacy stores.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Antimicrobial Therapeutics Market Research Report
The global Antimicrobial Therapeutics market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Antimicrobial Therapeutics market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Antimicrobial Therapeutics market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Antimicrobial Therapeutics market comprises of Middle East, Africa, and Latin America.
The largest market share for Antimicrobial Therapeutics was maintained by the North American regional sector. Both the regulatory environment and the healthcare infrastructure in these markets are highly developed. The rise of infectious diseases and increased government healthcare spending are two major factors driving the North American industry.
Moreover, the Europe market has been persistently growing over the forecast period. The rapid development of the healthcare infrastructure in a number of European countries, the rising investment in research and development activities, and the rising number of hospitals in the region are the main factors affecting demand for these pharmaceuticals in the European market.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. This can be seen in the rising use of antibiotics, growth in infectious diseases, and rise in government initiatives to develop novel treatments to treat infections with drug resistance.
Furthermore, the rest of the world's Antimicrobial Therapeutics market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising use of electric vehicles and hydrogen production research and development. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study