Anti-infective Agents Market Analysis By Type (Antibacterial, Cephalosporins, Penicillins, Fluoroquinolones, Macrolides, Carbapenems, Antifungal, Azoles, Echinocandins, Polyenes, Antiviral) And Segment Forecasts To 2024
The global anti-infective agents market is expected to reach over USD 111.4 billion by 2024 according to a new report by Grand View Research, Inc. The rising prevalence of infectious diseases such as HIV, H1N1, and Ebola virus reflect the profound changes in behavioral patterns of communities over the recent decades. The societal changes and the increasing awareness levels amongst the healthcare professionals and the patients pertaining to these diseases are driving the anti-infective agents market.
Organizations, such as the WHO and CDC are actively involved in spreading awareness amongst people regarding the implications of infectious diseases, which are fatal in nature and the importance of early treatment. The CDC has collaborated with the National Health Ministry (NHM) in an attempt to spread awareness and enhance the treatment rates for communicable diseases in developing countries such as Brazil, China, Nigeria, and India.
However, the introduction of novel therapeutics with increased potency and efficacy and the commercialization of pipeline products, such as commercialization of Omadacycline in 2018 for the treatment of Community Acquired Bacterial Pneumonia (CABP) in the near future, are expected to favorthe market growth.
Further keyfindings from the study suggest:
The antibacterial segment was observed to account for the largest share of over 54.0% in 2015. The large market share is attributed to the fact that antibacterials are preferred as the first line of treatment for a large range of infections, the high prescription rates exhibited by this segment, and the increased accessibility of the antibacterials due to their over-the-counter status.
The development of combination drugs to treat and prevent, serious and life-threatening infections is expected to accentuate the usage of anti-infective drugs. For instance, in 2012, Gilead Sciences, Inc. launched Stribild, which is a comprehensive treatment regimen inclusive of four drugs(cobicistat, elvitegravir, emtricitabine, and tenofovir disoproxil fumarate) used for the treatment of HIV patients without prior retroviral treatment record.
The anti-viral agents segment is expected to grow at a swift CAGR of over 3.5% owing to the high price associated with the introduction of new potent anti-viral drugs such as Vicriviroc for HIV treatment purpose
North America dominated the overall anti-infective agents market in terms of revenue of over25.0 billion in 2015.The rise in prevalence of infectious diseases including hospital-acquired infections in both, children and adults, and the resultant overuse of antibiotics coupled with the increased accessibility to non-prescription anti-infectives in the market are the factors responsible for its dominance.
Asia Pacific is one of the fastest growing regional segments owing to the presence of high, unmet market demand for novel drugs, rapid improvements in healthcare infrastructure coupled with the rising awareness amongst healthcare professionals as well as patients
Some of the major companies operating in this market are Abbott Laboratories, Gilead Sciences, Inc., Bristol-Myers Squibb Co., Merck & Co., Inc, Bayer Healthcare AG, AstraZeneca Plc, Boehringer Ingelheim, and Novartis AG.
Effective disease management involves a range of long-term strategies such as new product development, merger and acquisitions, co-development, and expansion. For instance, in 2015, ReViral has received a funding of USD 21 million for the development of its RV521 drug by the Wellcome Trust.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook