The global antimicrobial therapeutics market represents products that help in the prevention and treatment of infections caused by various microbes such as viruses, bacteria, and fungi. Antimicrobial drugs commonly known as antibiotics have revolutionized the treatment of infectious diseases. Rising incidence of communicable diseases such as HIV, tuberculosis and increasing antibacterial resistance have created substantial demand for antimicrobial therapeutics across the globe. Government support for development of new drugs and product innovations to overcome antimicrobial resistance are some of the factors fueling the market growth. However, the lengthy and costly approval process for new antimicrobials as well as the growing adoption of alternative treatment options like immunotherapy acts as a restraint for the market.

The global antimicrobial therapeutics Market is estimated to be valued at US$ 219.80 Bn in 2023 and is expected to exhibit a CAGR of 4.8 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

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Market key trends:

The increasing adoption of combination therapies to combat antimicrobial resistance is one of the key trends in the antimicrobial therapeutics market. Combination therapies involve drugs from two or more distinct classes that target different metabolic pathways or resistance mechanisms. This multifaceted strategy makes it difficult for the development of resistance. Hence, combination therapies improves treatment effectiveness, reduces toxicity, and delays resistance compared to monotherapy. Government and industry players are focusing on development of novel combination therapies through partnerships and collaborations. For instance, Pfizer and BioAxone Biosciences entered into a collaboration in 2021 to develop an inhaled combination of antimicrobials to treat cystic fibrosis and chronic lung infections. Such initiatives indicates growing potential of combination therapies in overcoming treatment challenges posed by antimicrobial resistance.

Porter’s Analysis

Threat of new entrants: The antimicrobial therapeutics market requires high RD investments and regulatory approvals which makes threat of new entrants moderate.

Bargaining power of buyers: The presence of many established pharmaceutical companies gives buyers more bargaining power in this market.

Bargaining power of suppliers: Major suppliers in this market include raw material and API suppliers who have moderate bargaining power.

Threat of new substitutes: Currently no major substitute exists for antimicrobial drugs, though alternative treatment options can be a threat.

Competitive rivalry: The market has few big players and many smaller ones, leading to high competition based on new drug development and pricing.

Key Takeaways

The global antimicrobial therapeutics market is expected to witness high growth. The global antimicrobial therapeutics Market is estimated to be valued at US$ 219.80 Bn in 2023 and is expected to exhibit a CAGR of 4.8 % over the forecast period 2023 to 2030.

The North America region currently dominates the antimicrobial therapeutics market and is expected to continue its dominance over the forecast period. This is attributed to high healthcare expenditure and early availability of novel drugs in the region. However, the Asia Pacific region is expected to witness the highest growth in the next few years owing to rising healthcare expenditure, increasing prevalence of infectious diseases, and growing demand for generic drugs in emerging countries such as India and China.

Key players

Key players operating in the antimicrobial therapeutics market are Pfizer Inc., Johnson Johnson, GlaxoSmithKline plc, Merck Co., Inc., Novartis AG, Roche Holding AG, AstraZeneca plc, Sanofi SA, Bayer AG, Bristol Myers Squibb Company, Eli Lilly and Company, Gilead Sciences, Inc., AbbVie Inc., Allergan plc, Mylan N.V. These players are focusing on strategies such as new product launches, mergers acquisitions and geographic expansion to increase their market share.