PUBLISHER: The Insight Partners | PRODUCT CODE: 1871449
PUBLISHER: The Insight Partners | PRODUCT CODE: 1871449
The Asia Pacific antibiotics and antimycotics market is projected to grow significantly, reaching approximately US$ 40,545.75 million by 2031, up from US$ 26,570.38 million in 2023, reflecting a compound annual growth rate (CAGR) of 5.4% during the forecast period from 2023 to 2031.
Executive Summary and Market Analysis
The market is divided into several key regions, including China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. The growth of this market is primarily driven by the rising incidence of bacterial and fungal infections, such as pneumonia, urinary tract infections (UTIs), sexually transmitted diseases, and skin infections across the region. Additionally, strategic initiatives by market players, including new product launches and approvals, are expected to create lucrative opportunities for market expansion in the coming years.
Market Segmentation
The Asia Pacific antibiotics and antimycotics market can be analyzed through various segments, including drug class, indication, route of administration, and distribution channel:
Market Outlook
The increasing awareness of fungal infections and their health implications, along with initiatives from both government and private sectors, are significant factors contributing to the growth of the antibiotics and antimycotics market. The Global Action Fund for Fungal Infections (GAFFI) reported that over 300 million people globally suffer from serious fungal diseases, leading to approximately 1.5 million deaths annually, surpassing the combined fatalities from malaria and tuberculosis. This alarming prevalence has prompted enhanced educational efforts and diagnostic initiatives, raising awareness among healthcare providers and patients about the critical need for timely treatment.
Innovations in diagnostic methods, such as molecular testing, have improved the early detection of fungal pathogens, further increasing the demand for effective antifungal treatments. GAFFI's 10-year roadmap for eliminating fungal diseases, established in 2015, outlines essential conditions for effective diagnostic delivery. Various organizations, including the International Society for Human and Animal Mycology (ISHAM) and the European Centre for Disease Prevention and Control (ECDC), are actively working to highlight the burden of fungal infections, promoting prevention, diagnosis, and treatment strategies. The annual Fungal Disease Awareness Week, observed from September 16-20, aims to raise awareness about the growing prevalence of fungal diseases and the need for appropriate responses.
Country Insights
The Asia Pacific antibiotics and antimycotics market is further analyzed by country, with China holding the largest market share in 2023. The country is witnessing a rising prevalence of fungal and bacterial infections, such as UTIs and pneumonia, which drives the demand for antibiotics and antimycotics. According to the Epidemiology and Infection Journal 2023, around 21.1 million individuals in China are affected by community-acquired pneumonia (CAP) annually. Commonly used antibiotics in China include penicillins, fluoroquinolones, cephalosporins, and nitroimidazoles.
Strategic initiatives by market players, including product launches and developments, are expected to create significant growth opportunities. For example, in September 2024, Guangzhou Sino-Israel Bio-Industry Investment Fund 2 LLP invested US$ 6.0 million in BioVersys to support clinical trials in China for BV100, targeting carbapenem-resistant Acinetobacter baumannii. In March 2023, Everest Medicines received a New Drug Application from China's National Medical Products Administration for Xerava (eravacycline) to treat complex intra-abdominal infections in adults.
Company Profiles
Key players in the antibiotics and antimycotics market include Pfizer Inc., Novartis AG, Sanofi SA, F. Hoffmann-La Roche Ltd, Merck & Co Inc., GSK Plc, Johnson & Johnson, Cipla Ltd, Bayer AG, AbbVie Inc., and Astellas Pharma Inc. These companies are employing various strategies, such as expansion, product innovation, and mergers and acquisitions, to enhance their market presence and offer innovative solutions to consumers.