Infectious Disease Therapeutics Market To Reach USD 128.2 Billion By 2032, Says DataHorizzon Research
The infectious disease therapeutics market size was valued at USD 70.1 Billion in 2023 and is expected to reach a market size of USD 128.2 Billion by 2032 at a CAGR of 6.9%.
Fort Collins, Colorado, April 19, 2024 (GLOBE NEWSWIRE) --*The rise in the prevalence of infectious diseases drives the industry's growth.*
The growing prevalence of infectious diseases worldwide is a significant driver for the infectious disease therapeutics market. As per the World Health Organization (WHO), communicable diseases contribute significantly to the global disease burden, with lower respiratory infections, diarrheal diseases, and tuberculosis ranking among the leading causes of death globally. In 2019 alone, WHO reported approximately 1.7 million deaths from tuberculosis, 690,000 deaths from HIV/AIDS, and 409,000 deaths from malaria. The growing incidence of infectious diseases, especially in developing nations, is fueling the need for efficacious therapeutics and preventive interventions.
The emergence of novel therapeutics and vaccines represents a significant opportunity within the *infectious disease therapeutics market.* Progress in fields like genomics, proteomics, and immunology is facilitating the identification of new drug targets and the creation of innovative treatment strategies. For example, mRNA-based vaccines, like those pioneered by Moderna and Pfizer-BioNTech for COVID-19, have showcased the potential for swift vaccine development and high efficacy. Furthermore, monoclonal antibodies, such as Regeneron's REGEN-COV for COVID-19 treatment, have exhibited effectiveness in neutralizing infectious agents. The development of novel and targeted therapeutics, coupled with the adoption of advanced technologies, is poised to propel the growth of the infectious disease therapeutics market in the foreseeable future.
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*Segmentation Overview:*
*The infectious disease therapeutics market has been segmented into disease type, product type, sales channel, and region.*
*Drugs accounted for a significant market share in 2023.*
· Based on the market segmentation by product type, the drugs segment held the largest market share in 2023. This segment includes antibiotics, antivirals, antifungals, and antiparasitics, the mainstay of infectious disease treatment. The large market share of the drugs segment can be attributed to the high prevalence of infectious diseases, the wide range of available drugs, and the established use of these therapeutics in clinical practice.
*The viral disease segment registered massive growth in 2023.*
· Based on the market segmentation by disease type, the viral diseases segment held the largest market share in 2023. This segment includes a wide range of viral infections, such as HIV/AIDS, hepatitis, influenza, and the recent COVID-19 pandemic. The large market share of the viral diseases segment can be attributed to the high global burden of these infections, the severity of their impact on public health, and the significant investments in research and development of antiviral drugs and vaccines.
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*Infectious Disease Therapeutics Market Report Highlights:*
· The infectious disease therapeutics market growth is anticipated at a *CAGR of 6.9% by 2032.*
· The growing prevalence of contagious diseases drives the industry's growth in the forthcoming years.
· North America is a leading market for infectious disease therapeutics and is projected to attain a significant market share in the coming years.
· Some prominent players in the infectious disease therapeutics market report include Roche Diagnostics, Abbott Laboratories, Siemens Healthineers, Danaher Corporation, Thermo Fisher Scientific, Sysmex Corporation, Bio-Rad Laboratories, Qiagen N.V., Becton, Dickinson, and Company, bioMérieux SA, and Ortho Clinical Diagnostics.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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CONTACT: Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://www.datahorizzonresearch.com