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Infectious disease therapeutics refers to drugs that are used for the treatment of infectious diseases caused by bacteria, viruses, fungi, or parasites. The therapeutics help fight infection by either killing the pathogen or preventing it from multiplying and spreading. They are usually prescribed antibiotics, antivirals, antifungals, or antiparasitics.
The infectious disease therapeutics market is estimated to be valued at US$ 170.67 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the infectious disease therapeutics market is the rising focus on the development of novel drugs for drug-resistant microbial infections. Growing cases of antimicrobial resistance have led existing drugs becoming ineffective against various pathogens. This has accelerated research and development activities aimed at discovering new chemical entities with novel mechanisms of action to overcome drug resistance. Several biopharmaceutical companies are investing heavily in antibiotic research to fulfill the need for new treatment options.
SWOT Analysis
Strength: The infectious disease therapeutics market has seen significant research and development in recent years. Many new drugs and treatment options have become available to treat infectious diseases.
Weakness: Developing new drugs and treatments for infectious diseases requires significant investment and a long development timeline. Many companies are reluctant to invest in areas with uncertain returns.
Opportunity: Emerging markets represent major growth opportunities as countries work to expand access to healthcare and treatment. The growing global population also increases the need for effective infectious disease therapies.
Threats: Potential new pandemics pose ongoing threats as viruses continue to evolve. Antimicrobial resistance also threatens the efficacy of existing drug treatments over time. Regulatory hurdles and clinical trial risks can delay or halt new product approvals.
Key Takeaways
The global infectious disease therapeutics market size is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing prevalence of infectious diseases. Factors such as changing lifestyles, unsafe water supplies and lack of sanitation in various regions have boosted incidence of infectious ailments.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its leading position during the forecast timeframe. This can be attributed to high healthcare spending and presence of major players in the region. However, Asia Pacific is anticipated to witness fastest growth owing to rising healthcare expenditures, large patient pools and improving access to diagnosis and treatment in developing nations.
Key players operating in the infectious disease therapeutics market are Novartis International AG, Gilead Sciences, Inc., GlaxoSmithKline plc, Janssen Pharmaceutical, F. Hoffmann-La Roche AG, BioCryst Pharmaceuticals, Inc., and Boehringer Ingelheim GmbH. among others. These companies have adopted strategies like acquisitions, partnerships and new product launches to expand their global presence and bolster their portfolios.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
