The global antibiotic resistance market involves drugs that are effective against bacteria that have developed resistance to existing antibiotics. These drugs typically belong to new classes of antibiotics with novel mechanisms of action against highly resistant bacterial strains such as MRSA and multidrug-resistant Gram-negative bacteria. Growing prevalence of infectious diseases coupled with the rising rate of treatment failures due to antibiotic resistance is fueling the demand for novel antibiotics.
The Global antibiotic resistance market is estimated to be valued at US$ 8.83 Bn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global antibiotic resistance market are Melinta Therapeutics, Merck & Co., Inc., Allergan, Pfizer Inc., Tetraphase Pharmaceutical, Inc., Theravance Biopharma, WOCKHARDT, Entasis Threapeutics, Paratek Pharmaceuticals, Inc., Seres Therapeutics, Achaogen Inc., Basilea Pharmaceutical Ltd., Nabriva Threapeutics plc, and NEMESIS BIOSCIENCE LTD. The development of novel molecules and treatment options is one of the key opportunities in the global market. Growing public-private partnerships to develop new antibiotics and rising investments to counter antibiotic resistance worldwide are expected to drive the global expansion of the Global Antibiotic Resistance Market Growth .
Market Drivers
The rising prevalence of infectious diseases across the globe due to changing lifestyles and environmental conditions is a major factor augmenting market growth. According to the WHO, infectious diseases accounted for approximately 26% of global deaths in 2016. Increased antibiotic usage has led to the widespread emergence and spread of antibiotic-resistant bacteria. As per the CDC, over 2.8 million antibiotic-resistant infections occur in the United States each year, with more than 35,000 people dying as a result. This has created an urgent need for developing new classes of antibiotics, driving the antibiotic resistance market.
PEST Analysis
Political: Government regulations related to antibiotic use and research of new antibiotics are increasing to curb the growth of antibiotic-resistant infections. This is expected to provide a boost to the market.
Economic: The high treatment cost associated with antibiotic-resistant infections is increasing the financial burden on healthcare systems. This is driving investments for development of new effective antibiotics.
Social: Increasing awareness among patients and physicians regarding antibiotic resistance is leading to prudent use of antibiotics and preference for newer targeted drugs.
Technological: Advancements in genomics and improved understanding of mechanisms of drug resistance are enabling development of novel targeted anti-infective therapies. Several pipeline candidate molecules are under research and clinical trials.
The market is concentrated in developed regions like North America and Europe due to widespread awareness, established healthcare infrastructure, and high treatment expenditure capabilities in these regions. The United States represents the largest market owing to the presence of major players and one of the highest incidences of antibiotic-resistant infections.
The Asia Pacific region is expected to witness the fastest growth during the forecast period due to increasing healthcare investments, rising medical tourism, and growing incidence of infectious diseases in developing countries like India and China. Large patient pool and rapid economic development are contributing to the growth of the market in Asia Pacific.
Get more insights on Global Antibiotic Resistance Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
Comments
0 comment