PUBLISHER: The Insight Partners | PRODUCT CODE: 1871450
PUBLISHER: The Insight Partners | PRODUCT CODE: 1871450
The antibiotics and antimycotics market in the Middle East and Africa is projected to grow significantly, reaching approximately USD 2,187.95 million by 2031, up from USD 1,756.67 million in 2023, reflecting a compound annual growth rate (CAGR) of 2.8% from 2023 to 2031.
Executive Summary and Market Analysis
The market is divided into key regions: Saudi Arabia, South Africa, the UAE, and the Rest of the Middle East and Africa. Several factors are propelling market growth, including the rising incidence of infectious diseases caused by bacteria and fungi, strategic initiatives by industry players such as new product launches and partnerships, and supportive government policies. Additionally, the geographical expansion of market participants and increasing awareness regarding the appropriate use of antibiotics and antimycotics are expected to further stimulate market growth in the upcoming years.
Market Segmentation Analysis
The Middle East and Africa antibiotics and antimycotics market is categorized based on drug class, indication, route of administration, and distribution channel:
Market Outlook
Infectious diseases, caused by various pathogens including bacteria and fungi, pose significant health challenges. According to a 2022 report by ReAct Group, bacterial infections were linked to 77 million deaths globally, excluding tuberculosis, which ranks as the 13th leading cause of death worldwide. The World Health Organization (WHO) reported that tuberculosis (TB) was responsible for 1.3 million deaths in 2022, with a significant number of new cases arising in high-burden countries.
Healthcare-associated infections (HAIs) also contribute to high morbidity and mortality rates, imposing substantial costs on healthcare systems. Common antibiotics prescribed for conditions like hospital-acquired diarrhea and urinary tract infections include metronidazole, vancomycin, ofloxacin, ceftriaxone, and amoxicillin.
Moreover, the rise in fungal infections is a growing concern, with the Global Action Fund for Fungal Infections (GAFFI) estimating that over 80 million people are at high risk of developing fungal diseases annually, leading to approximately 6.55 million cases of life-threatening infections and 3.75 million deaths. Azoles and Amphotericin B are frequently used antimycotics for treating these infections. The increasing prevalence of bacterial and fungal infections underscores the urgent need for effective antibiotics and antimycotics.
Country Insights
The market analysis by country reveals that Saudi Arabia held the largest share in 2023. The growth in Saudi Arabia's antibiotics and antimycotics market is driven by rising healthcare expenditures, a growing prevalence of infectious diseases, and ongoing health initiatives aimed at combating antibiotic resistance. UTIs are notably common, accounting for 10% of all infections in the country, while the prevalence of tuberculosis is reported at 17%, exceeding the global average.
Recent product innovations, such as the launch of STIMULAN by Biocomposites in October 2023, which serves as an antibiotic carrier for wound healing, are expected to enhance market opportunities in Saudi Arabia.
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 pursuing various strategies, including market expansion, product innovation, and mergers and acquisitions, to enhance their product offerings and increase market share.