PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408897
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1408897
Infectious Disease Therapeutics Market size was valued at USD 68,034 Million in 2022, expanding at a CAGR of 8.2% from 2023 to 2030.
Infectious disease therapeutics encompasses the management of illnesses caused by harmful microorganisms including bacteria, viruses, fungi, and parasites. The primary objective of infectious disease therapeutics is to eradicate or regulate the proliferation and transmission of these pathogens within the body. The prompt identification and efficient treatment of individuals affected by infectious diseases have been among the most significant advancements in the field of medicine in the last century. Presently, cardiovascular disease and cancer have become the leading causes of mortality in the United States. However, the absence of innovative compounds and vaccines for the treatment and prevention of infectious diseases reaching clinical proof of concept in recent decades has resulted in a global health crisis. The emergence of new and previously unknown infectious diseases poses a grave threat to human well-being and the worldwide economy, as exemplified by the ongoing SARS-CoV-2 outbreak. To counteract these risks, it is imperative to implement comprehensive containment strategies, including virus characterization, serological testing, research on therapeutic antibodies, and the development of vaccines utilizing optimized protein expression systems to combat the rapid evolution of pathogens.
There is an increase in the number of cases of infectious diseases, it can drive the demand for therapeutic interventions. This may be due to factors such as changes in lifestyle, antibiotic resistance, international travel, and population density. Examples of infectious diseases include the flu, measles, HIV, strep throat, COVID-19, and salmonella. While infectious diseases are widespread globally, their prevalence varies. For instance, in the United States, approximately 1 out of every 5 individuals gets infected with the influenza virus each year, whereas the number of diagnosed prion diseases is less than 300. According to the National Center for health statistics, there are approximately 3.8 million emergency department visits with infectious and parasitic diseases as the primary diagnosis. However, the continuous advancements in biotechnology and pharmaceutical research offer opportunities for the development of more effective and targeted therapeutics for infectious diseases. Additionally, economic downturns and uncertainties can have an impact on healthcare budgets and the allocation of funds toward infectious disease therapeutics.
The Infectious Disease Therapeutics Market is geographically widespread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the nations involved in the business. In terms of growth, North America is expected to dominate the market due to the increasing prevalence of antiviral drugs and the presence of numerous manufacturers in the United States. The United States serves as a hub for research and development in the healthcare and pharmaceutical sectors, with substantial investments in R&D leading to the discovery of new therapeutic agents for infectious diseases. According to U.S. Pharmaceutical Statistics, the revenue generated by the U.S. pharmaceutical industry reached USD 550 billion in 2021, while Americans spent USD 576.9 billion on medicine during the same year. It is projected that the United States will spend between USD605 billion and USD635 billion on medicine by 2025. The development of antiviral medications plays a crucial role in treating viral infections and contributes to the overall growth of the market. The prevalence of antiviral drugs reflects the ongoing efforts in research and development to combat viral infections. Europe, on the other hand, is the second-largest region for market growth, primarily due to the rising expenditure on the prevention and diagnosis of infectious diseases.
Every year, the pharmaceutical industry in the United States introduces a variety of new drugs that offer significant medical benefits. However, a considerable number of these drugs are costly and contribute to the increasing healthcare expenses for both the private sector and the federal government. In order to enter the market, emerging biopharmaceutical companies, often startups or medium-sized enterprises, bring forth innovative therapeutics that specifically target infectious diseases or niche areas. Conversely, large pharmaceutical companies with well-established research and development capabilities compete in the advancement and commercialization of infectious disease therapeutics. These companies possess the necessary resources to conduct extensive clinical trials and ensure global distribution.
According to data analytics and consultancy GlobalData, Pfizer, Gilead, and GSK are expected to become the leading players in the infectious diseases market by 2023. Despite a projected 64% decrease in COVID-19 sales that year, the market is anticipated to grow at a rate of 5.7% annually, reaching $150 billion in annual sales by 2029. This growth is predicted despite the global population being largely vaccinated and the World Health Organization declaring an end to the pandemic as a global health emergency.
The scope of this report covers the market by its major segments, which include as follows: