US & Canada, Nov. 29, 2024 (GLOBE NEWSWIRE) — According to a new comprehensive report from The Insight Partners, the global Antibiotics and Antimycotics Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast is observing significant growth owing to the surging prevalence of infectious diseases, and ongoing funding and research and development initiatives.
The antibiotics and antimycotics market analysis sheds light on a wide range of drugs used for the treatment of bacterial and fungal infections that are expected to contribute to the market strength in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
Click Here to Access a Sample Report of the Global antibiotics and antimycotics market Market@ https://www.theinsightpartners.com/sample/TIPRE00021878/
Overview of Report Findings
1. Market Growth: The antibiotics and antimycotics market is expected to reach US$ 91.54 billion by 2031 from US$ 61.20 billion in 2023; it is estimated to register a CAGR of 5.2% during the forecast period. Antibiotics and antimycotics are the drugs used for the treatment and management of various bacterial and fungal infections, respectively. These are among the most prescribed drug classes globally.
2. Increasing Prevalence of Infectious Diseases: Infectious diseases are caused by bacteria, viruses, parasites, fungi, and toxic substances of biological origin. As per ReAct Group 2022 report, every year 77 million deaths (i.e., 13.6% of total deaths) reported across the world were linked to bacterial infection, excluding tuberculosis. According to the World Health Organization (WHO), tuberculosis (TB) ranks 13th among the most common causes of death and 2nd among the most frequent infectious diseases, after COVID-19, globally. As per WHO data, 1.3 million people (including 214,000 people affected by HIV) succumbed to TB in 2022. Its estimations also state that 10.6 million people in the world had TB in 2022, including 1.3 million children, 3.5 million women, and 5.8 million men. 30 countries with high TB burdens accounted for 86–90% of new TB cases that year. Eight countries comprised two-thirds of the total, with India leading the way, followed by the Philippines, China, Indonesia, Pakistan, Nigeria, Bangladesh, and South Africa, respectively. Rifampin, isoniazid, pyrazinamide, and ethambutol are the prominent antibiotics approved by the US FDA for the treatment of Mycobacterium tuberculosis infections.
Further, increasing fungal infections are among the significant concerns affecting a vast number of people in the world. According to the Global Action Fund for Fungal Infections (GAFFI) 2024, every year, more than 80 million people are estimated to be at high risk of acquiring a fungal disease; approximately 6.55 million patients develop life-threatening fungal infections each year, whereas 3.75 million people succumb to death due to these server conditions. Azoles and amphotericin B are a few of the common antimycotics used for the treatment of fungal infections globally. Thus, the rising prevalence of various bacterial and fungal infections creates a significant need for antibiotics and antimycotics across the world.
3. Ongoing Funding and Research & Development Initiatives: Companies in the antibiotics and antimycotics market are making continuous efforts to develop new products or update the existing ones, and to raise funds for drug development and clinical studies. Initiatives and support from private and government organizations also drive evolution in antibiotics and antimycotics. A few of the recent developments that took place in the market in recent years are mentioned below.
- In September 2024, F2G, a UK-based biopharmaceutical company, completed a US$ 100-million financing round to conduct the late-stage development and commercialization of olorofim, a novel oral antifungal therapy for invasive aspergillosis and other invasive fungal infections.
- In June 2024, the Global Antibiotic Research & Development Partnership (GARDP) and Bugworks Research Inc signed a collaborative agreement for jointly developing an innovative compound termed BWC0977. This candidate exhibits a broad-spectrum antibiotic activity against multidrug-resistant bacteria responsible for life-threatening infections.
- In June 2023, BioVersys became the first European company to receive funding for its clinical trials through the AMR Action Fund. This fund operates as the world’s second-largest foundation that aims to promote medical research; it is expected to support the launch of 2–4 antimicrobials to combat drug resistance in bacteria by 2030.
4. Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and APAC, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.
Report Scope & Segmentation-
| Report Coverage | Details | ||||
| Forecast Period | 2024-2031 | ||||
| Forecast Period 2023 to 2030 CAGR | 5.2 | % | |||
| 2031 Value Projection | US$ 91.54 Billion | ||||
| Base Year | 2023 | ||||
| Market Size by 2023 | US$ 61.20 Billion | ||||
| Historical Data for | 2021-2022 | ||||
| No. of Pages | 203 | ||||
| Segments covered | By Product, Type, End User | ||||
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa | ||||
Market Segmentation
- Based on drug class, the antibiotics and antimycotics market is penicillins, cephalosporins, carbapenems, macrolides, aminoglycosides, quinolones, sulfonamides, tetracyclines, azoles, and others. The penicillins segment held the largest market share in 2023.
- By indication, the antibiotics and antimycotics market is segmented into skin infections, respiratory infections, urinary tract infections, septicemia, ear infections, gastrointestinal infections, and others. The skin infections segment held the largest share of the market in 2023.
- In terms of route of administration, the antibiotics and antimycotics market is divided into oral, topical, and others. The oral segment accounted for the largest market share in 2023.
- In terms of distribution channel, the antibiotics and antimycotics market is divided into hospital pharmacies, retail pharmacies and drug stores, and online pharmacies. The hospital pharmacies segment held the largest share of the market in 2023.
- The antibiotics and antimycotics market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.
Competitive Strategy and Development
- Trending Topics: Antimicrobial/Antifungal Tests, Carbapenem-Based Antibiotics, Next-Generation Antibiotics, Personalized Antibiotic Therapies, etc.
Global Headlines on Antibiotics and Antimycotics
- Orchid Pharma Joins Hands with Cipla to Launch New Antibiotic in India
- Mumbai-Based Wockhardt to Launch Its Novel Antibiotic Zaynich by FY25-End
- Fresenius Kabi Launches Posaconazole Injection for Prevention or Treatment of Fungal Infections
- Biocon Receives Approval for Antifungal Medication Micafungin from US FDA
The List of Companies – Basic Aromatics Market
- Pfizer Inc
- Novartis AG
- Sanofi SA F.
- Hoffmann-La Roche Ltd
- Merck & Co Inc
- GSK Plc
- Johnson & Johnson
- Cipla Ltd
- Bayer AG
- AbbVie Inc
- Astellas Pharma Inc
Buy Premium Antibiotics and Antimycotics Market Research Report | Fast Delivery Available – https://www.theinsightpartners.com/buy/TIPRE00021878/
Conclusion
The antibiotics and antimycotics market is undergoing significant transformation, driven by the prevalence of infectious diseases and increasing awareness about fungal infections, particularly among immunocompromised populations. The global rise in drug-resistant fungal strains and multidrug-resistant bacteria is intensifying the demand for novel antibiotics and antifungal therapies. Despite an urge for new treatments, the market faces challenges such as high development costs, regulatory hurdles, and limited economic incentives available for pharmaceutical companies to invest in antibiotic research due to relatively low returns. However, strategic collaborations between governments, private sector entities, and global health organizations are fostering innovation and creating opportunities for market growth. The development of new drug classes, combination therapies, and improved diagnostic tools is crucial for effectively addressing infections caused by drug-resistant pathogens. As the market evolves, continued investment in research, the sophistication of regulatory approval processes, and global initiatives to promote antimicrobial stewardship would be essential to combat the elevating burden of infectious diseases and safeguard public health in the coming years.
Browse More Related Reports:
Antibiotics Market Size, Industry, Trend, Growth Analysis By 2028
Animal Antibacterial And Antibiotics Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Aminoglycoside Antibiotics Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Systemic Antibiotics Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Peptide Antibiotics Market Size and Forecasts (2021 – 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/antibiotics-and-antimycotics-market
