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Infectious Disease Therapeutics Global Market 2024 - Growth Analysis, Business Opportunities, Future Trends, Developments And Forecast To 2033
Infectious Disease Therapeutics Global Market
According to The Business Research Company's, The infectious disease therapeutics market size has grown strongly in recent years. It will grow from $132.14 billion in 2023 to $141.08 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rising prevalence of infectious diseases, increasing incidence of viral diseases, growing awareness about diagnosis, rising demand for efficient and quick diagnostic testing, growing demand for cost-effective generic drugs, growing prevalence of infectious diseases, growing importance of antimicrobial stewardship.
The infectious disease therapeutics market size is expected to see strong growth in the next few years. It will grow to $184.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing investments, expansion of clinical trial studies, increasing number of clinical trials, increasing focus on infectious disease prevention, increasing awareness about early diagnosis, growing awareness and funding. Major trends in the forecast period include partnerships, product approvals, investments, and research and developments in therapeutics.
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Market Drivers and Trends:
The rising prevalence of infectious diseases is expected to propel the growth of the infectious disease therapeutics market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, parasites, or prions. The rising infectious diseases are due to several key factors such as climate change and environmental disruption, antimicrobial resistance, weakened immune systems, increased interactions with animals, and ecological disturbances. Infectious disease therapeutics play a vital role in treating infections, reducing morbidity and mortality, and controlling the spread of communicable diseases within communities and across populations. For instance, according to the gov. uk, a UK-based public sector information website, in England, there were 3,805 new HIV diagnoses in 2022, marking a 22% increase from the 3,118 cases reported in 2021 and a 26% rise from the 3,026 cases reported in 2020. Therefore, the rising prevalence of infectious diseases drives the infectious disease therapeutics market.
Major companies operating in the infectious disease therapeutics market are investing in infectious disease drugs to develop more effective treatments, combat antimicrobial resistance, expand their product portfolios, and address emerging infectious threats. These investments aim to improve patient outcomes, meet unmet medical needs, and contribute to global public health efforts to control and manage infectious diseases. For instance, in June 2022, GSK, a UK-based healthcare company invested £1 billion(USD 1.09 billion) to proactively address infectious diseases in lower-income countries. This initiative aims to enhance research and development efforts to combat diseases that disproportionately affect these regions. The disparity in health research funding and resources between high-income and low- and middle-income countries underscores the urgency for such proactive investments to improve population health equitably.
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Major Key Players of the Market:
Pfizer Inc., Roche Diagnostics Corporation, F. Hoffmann-La Roche AG, Merck & Co. Inc., Sanofi SA, Thermo Fisher Scientific, AstraZeneca, Abbott Laboratories, Novartis International AG, Danaher Corporation, GlaxoSmithKline plc, Gilead Sciences Inc., Janssen Pharmaceutical, Siemens Healthineers, Moderna Inc., Becton, Dickinson, and Company, Regeneron Pharmaceuticals Inc., Boehringer Ingelheim GmbH, BioMérieux SA, Sysmex Corporation, Bio-Rad Laboratories, Qiagen N.V., Ortho Clinical Diagnostics, BioCryst Pharmaceuticals Inc.
Infectious Disease Therapeutics Market 2024 Key Insights:
• The infectious disease therapeutics market size is expected to see strong growth in the next few years. It will grow to $184.17 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Infectious Diseases On The Upswing A Global Health Concern
• Corporate Initiatives In Infectious Disease Therapeutics Advancing Treatment, Resisting Resistance, and Promoting Global Health Equity
• North America was the largest region in the infectious disease therapeutics market in 2023
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