The global Infectious Disease Therapeutics Market offers a wide range of vaccines and drug therapies to treat various infectious diseases including viral, bacterial, and fungal infections. Products in this market help protect public health by preventing and curing contagious illnesses.
The global Infectious Disease Therapeutics Market is estimated to be valued at US$ 170.67 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of infectious diseases across the globe is primarily driving the infectious disease therapeutics market. According to the World Health Organization (WHO), infectious diseases account for around 26% of global deaths every year. Climate change, antimicrobial resistance, and other environmental factors are facilitating the spread of infectious pathogens to new regions. Growing resistance to antibiotics and antiviral drugs is also leading to rise in chronic and difficult-to-treat infectious cases. Development of novel drugs and therapies to effectively tackle drug-resistant infections has become a major focus area and growth opportunity in this market over the forecast period.
SWOT Analysis
Strength: The market has strong growth opportunities due to the increasing prevalence of infectious diseases globally. Also, constant innovations and advancements in treatment options work as strengths.
Weakness: However, high costs associated with R&D activities for drug development remain a major weakness. Additionally, strict approval procedures by regulatory authorities also act as weaknesses.
Opportunity: Rising healthcare infrastructure and expenditure across developing regions provide lucrative opportunities. Growing awareness regarding infectious disease diagnosis and treatment offers opportunities as well.
Threats: Threats include patent expiries of blockbuster drugs and subsequent entry of generic versions. Moreover, side effects associated with few drugs also remain threats.
Key Takeaways
The global Infectious Disease Therapeutics market is expected to witness high growth. The global Infectious Disease Therapeutics Market is estimated to be valued at US$ 170.67 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.
The Asia Pacific infectious disease therapeutics market accounted for more than 35% share in 2023 and is expected to witness the fastest growth during the forecast period. Presence of a large patient pool and improving healthcare infrastructure in countries like China, India, and Indonesia are contributing to the dominance of Asia Pacific region.
Key players operating in the infectious disease therapeutics are Novartis International AG, Gilead Sciences, Inc., GlaxoSmithKline plc, Janssen Pharmaceutical, F. Hoffmann-La Roche AG, BioCryst Pharmaceuticals, Inc., and Boehringer Ingelheim GmbH. among others. Key players are focusing on developing novel therapies through extensive R&D and collaborations. For instance, Gilead Sciences launched Descovy and Biktarvy for HIV treatment and generated significant revenue in 2023.
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