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Global Multidrug Resistant Bacteria Market 2024 : Trends, Business Growth And Major Driving Factors
Multidrug Resistant Bacteria Global Market Report 2024
According to The Business Research Company's, The multidrug resistant bacteria market size has grown strongly in recent years. It will grow from $11.86 billion in 2023 to $12.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to antibiotic resistance crisis, advancements in drug discovery, regulatory incentives, public health initiatives.
The multidrug resistant bacteria market size is expected to see strong growth in the next few years. It will grow to $16.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to antibiotic stewardship programs, global spread of resistance, phage therapy and alternative treatments, public and private investment. Major trends in the forecast period include precision medicine for infectious diseases, combination therapies, continuous surveillance and monitoring, global collaboration.
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Market Drivers and Trends:
The increasing prevalence of infectious diseases is expected to propel the growth of the multidrug-resistant bacteria market going forward. Infectious diseases refer to illnesses brought on by harmful microorganisms, such as bacteria, viruses, fungi, or parasites. Multidrug-resistant bacteria are closely associated with infectious diseases due to their ability to cause infections that are difficult to treat using conventional antibiotics. These bacteria have developed resistance to multiple antibiotics, making them less susceptible to the medications commonly used to combat bacterial infections. For instance, in July 2022, according to data released by the Australian Institute of Health and Welfare (AIHW), an Australia-based government agency, the number of notifiable infectious diseases in Australia increased from 289,013 in 2020 to 701,820 in 2021. Therefore, the increasing prevalence of infectious diseases will drive the multidrug-resistant bacteria market.
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Major Key Players of the Market:
Pfizer Inc., Johnson And Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck And Co. Inc., Bayer AG, Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline PLC, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Teva Pharmaceutical Industries Ltd., Mylan N.V., Dr. Reddy's Laboratories Ltd., Lupin Pharmaceuticals Inc., BioMarin Pharmaceuticals Inc., Zydus Lifesciences Limited, Glenmark Pharmaceuticals Ltd., Sun Pharmaceutical Industries Ltd., Alkem Laboratories, Wockhardt Ltd., Basilea Pharmaceutica Ltd., Paratek Pharmaceuticals Inc., Theravance Biopharma Inc., Melinta Therapeutics Inc., Armata Pharmaceuticals Inc., Tetraphase Pharmaceuticals Inc.
Multidrug Resistant Bacteria Market 2024 Key Insights:
• The Multidrug Resistant Bacteria Market is expected to grow to $16.22 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Surging Prevalence Of Infectious Diseases Accelerates Growth In Multidrug-Resistant Bacteria Market
•
• North America was the largest region in the multidrug-resistant bacteria market in 2023. The regions covered in multidrug-resistant bacteria market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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