by The global antibiotics market, valued at approximately US$40 billion in 2021, is set for a promising outlook in the coming years, driven by various factors, including the rising prevalence of bacterial infections and efforts to combat antimicrobial resistance (AMR).
Rising Bacterial Infections Fuel Demand
The increasing incidence of bacterial infections, encompassing respiratory infections, urinary tract infections, skin infections, tuberculosis, and more, is a significant driver of the demand for antibiotics worldwide. These infections pose a substantial global burden, causing loss of years of life and significant economic impact. For instance, urinary tract infections (UTIs) affect approximately 50% of women, and tuberculosis alone accounted for 1.4 million deaths in 2019, ranking among the top 10 causes of mortality worldwide. The rise in respiratory infections, contributing to the deaths of approximately 5 million children annually, has led to the development of advanced antibiotics to address these pressing health concerns.
Antimicrobial Resistance (AMR) Challenges
The prolonged and often indiscriminate use of antimicrobial drugs has given rise to antimicrobial resistance (AMR), wherein pathogens, including fungi and bacteria, develop resistance to antibiotics. This resistance can lead to organ failures, prolonged recovery cycles, and increased healthcare costs. According to the World Health Organization (WHO), AMR imposes a significant economic burden, resulting in not only disability and death but also the need for expensive medications and extended hospital stays.
The misuse and overuse of antimicrobial drugs have contributed to a growing global crisis. In the United States alone, over 2.8 million antimicrobial resistance infections are reported annually, while the European Union has witnessed around 33,000 deaths attributable to AMR.
Efforts to Counter AMR Create New Opportunities
Recognizing the severity of AMR, regulatory authorities have embarked on coordinated plans to combat this crisis. The WHO has conducted critical reviews of various fungal infections and is exploring the development of potential antifungal drugs. Without innovative antimicrobials, the efficacy of modern medications in treating critical infections is at risk. Consequently, biopharmaceutical companies are investing in research and development of advanced combination therapies to address antibiotic-resistant infections. For example, Allecra Therapeutics GmbHs investment in enmetazobactam/cefepime has the potential to mitigate resistance issues.
North America Poised for Dominance
Developed economies in North America are expected to dominate the antibiotics market due to increasing infectious disease prevalence and the need for quick relief in busy lifestyles. Rising tuberculosis cases, driven by an aging population, further fuel the demand for antibiotics in the region. Superior healthcare infrastructure, robust healthcare spending, GDP per capita growth, and substantial investments in research and drug development are key factors contributing to the antibiotics markets growth in North America.
Competitive Landscape
Major players in the antibiotics market are actively developing new drugs and bolstering their positions through collaborations and partnerships. Recent examples include Sandozs acquisition of the cephalosporin antibiotics business of GSK, strengthening its position as a leading antibiotics developer, and Otsuka Pharmaceuticals regulatory approval for Deltyba tablet formulation to combat Multidrug-Resistant Tuberculosis (MDR-TB) among children.
Key players in the global antibiotics market include Merck & Co. Inc., Abbott Laboratories, Bayer AG, Pfizer Inc., GlaxoSmithKline PLC, Novartis AG, Astellas Pharma Inc., Sanofi, and Bristol-Myers Squibb Company.
The antibiotics markets promising growth trajectory underscores the vital role antibiotics play in addressing bacterial infections and the pressing need to combat AMR.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/antibiotics-market
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This press release first seen on Brilad
COMTEX_442320043/2840/2023-10-23T08:21:15
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.