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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The infectious disease therapeutics market comprises drugs that are used for the treatment of various types of infectious diseases such as bacterial, viral and fungal infections. These drugs help kill or slow the growth of infectious agents such as bacteria, viruses, fungi or parasites. With the rise in antimicrobial resistance, there is a growing need for novel drug molecules to effectively treat infectious diseases.
Market key trends:
One of the major trends driving growth of the infectious disease therapeutics market is the increasing antimicrobial resistance. Over the years, many microbes have developed resistance to commonly used antibiotic drugs. This has reduced the effectiveness of available antimicrobial drugs against disease-causing pathogens. According to WHO, antimicrobial resistance is now a major threat to global public health. It is estimated that antimicrobial resistance is directly or indirectly responsible for over 700,000 global deaths per year currently. Novel drug molecules are urgently needed to overcome this resistance. Many pharmaceutical companies are investing heavily in R&D to develop more effective therapies against drug resistant infectious diseases. This is expected to fuel market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of entry is low as the infectious disease therapeutics market requires high capital investments for R&D and clinical trials. Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have a variety of treatment options available from different manufacturers. Bargaining power of suppliers: Suppliers have low bargaining power due to availability of substitute raw materials and components. Threat of new substitutes: The threat of substitutes is low as new drug discovery and development requires significant investments of time and money. Competitive rivalry: Intense as large players compete globally for market share.
SWOT Analysis
Strengths: Strong R&D capabilities and large product portfolios. Established distribution networks globally. Weaknesses: High R&D costs and stringent regulations lengthen drug development cycles. Patent expiries of blockbuster drugs resulting in loss of revenues. Opportunities: Rising prevalence of infectious diseases especially in developing nations. Emerging markets offer high growth potential. Threats: Price controls and drug cost containment policies implemented by various governments. Increased generic competition eroding sales of branded drugs.
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 and growing awareness. Regionally, Asia Pacific region is expected to grow at the fastest rate due to rising healthcare expenditures, high disease prevalence and expanding access to healthcare.
Key players operating in the infectious disease therapeutics market are Pfizer Inc. (U.S.), GlaxoSmithKline plc. (U.K), Merck & Co. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), AstraZeneca (U.K), Mylan N.V. (U.S.), Novartis AG (Switzerland), Sanofi (France). Pfizer Inc. leads the market with its strong product portfolio for infectious diseases including Prevnar 13, Ibrance and Eliquis. With high unmet needs, emerging markets offer lucrative opportunities for growth of these players.
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