Antimicrobial Therapeutics Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Antimicrobial Therapeutics Market: About this market
Antimicrobial drugs include antibiotics, antifungals, antiprotozoal, and antivirals, which help kill microorganisms or inhibit their growth. Technavio’s antimicrobial therapeutics market analysis considers sales from applications including antiviral, antibacterial, antifungal, and antiparasitic. Our analysis also considers the sales of antimicrobial therapeutics in Asia, Europe, North America, and ROW. In 2018, the antiviral segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising incidence of viral infections, including HIV, hepatitis, and influenza, will play a significant role in the antiviral segment to maintain its market position. Also, our global antimicrobial therapeutics market report looks at factors such as recent drug approvals and robust pipeline, initiatives from government agencies, and rising awareness about microbial diseases. However, the increasing availability of generic drugs, challenges associated with development, storage, and handling of vaccines, and rising antimicrobial resistance may hamper the growth of the antimicrobial therapeutics industry over the forecast period.
Global Antimicrobial Therapeutics Market: Overview
Recent drug approvals and robust pipeline
Researchers are investing in R&D on new drugs and vaccines due to the growing prevalence of microbial diseases. This has created a strong drug pipeline involving innovative disease-modifying agents. Researchers are also focusing on the development of several advanced novel therapeutic solutions. The approval of these vaccines and therapeutic solutions will lead to the expansion of the global antimicrobial therapeutics market at a CAGR of almost 4% during the forecast period.
Increase in disease diagnostic modalities
There is an increase in the demand for high-quality diagnostics that will enable early diagnosis of the infection. This is encouraging various companies to develop sophisticated diagnostic modalities, biomarkers, and PoC diagnostic tests. The development of such innovative diagnostics is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global antimicrobial therapeutics market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global antimicrobial therapeutics market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading antimicrobial therapeutics manufacturers, that include Gilead Sciences, Inc., GlaxoSmithKline plc, Merck & Co Inc., Pfizer Inc., and Sanofi.
Also, the antimicrobial therapeutics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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