Antimicrobial drugs market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to grow at a CAGR of 4.50% in the above mentioned forecast period.
Antimicrobial drugs are the chemical substances that are derived naturally or synthetically and destroy or inhibit the growth of micro-organisms which include bacteria, protozoa, viruses, fungi and helminths. Functions of antimicrobial drugs include the inhibition of cell wall synthesis, plasma membrane, nucleic acid synthesis and essential metabolites synthesis.
Rise in the prevalence of infectious disease, growing healthcare expenditure, increasing demand of new generation antibiotics that can resolve the issue of antimicrobial resistance, emerging markets growing government funding, rising initiatives by government and private organisations to spread awareness are the factors that will expand the antimicrobial drugs market. Rise in the research and development activities and increasing number of public-private collaborations for the development of product pipeline will provide beneficial opportunities for the antimicrobial drugs market in the forecast period of 2021-2028.
However, high cost of drugs, side effects associated with the medication and resistance of antimicrobial drugs are the factors that will hinder the market growth and will further challenge the antimicrobial drugs market in the forecast period mentioned above.
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North America dominates the antimicrobial drugs market due to the presence of major key players, growing investment for R&D activities, high healthcare expenditure and well-developed healthcare sector in this region. Asia-Pacific is expected to grow during the forecast period of 2021-2028 due to the increasing research and development activities, rising investment in the healthcare sector and growing government support.
The major players covered in the antimicrobial drugs market report are Allergan, Merck Sharp & Dohme Corp., Pfizer Inc., GlaxoSmithKline plc, Melinta Therapeutics LLC, Basilea Pharmaceutica Ltd., Tetraphase Pharmaceuticals, Paratek Pharmaceuticals, Inc., Nabriva Therapeutics plc, Spero Therapeutics, Abbott, F. Hoffmann-La Roche Ltd., Mylan N.V., Teva Pharmaceutical Industries Ltd., Sanofi, Novartis AG, Bayer AG, Sun Pharmaceutical Industries Ltd., Lilly, Aurobindo Pharma, Lupin, SHIONOGI & Co., Ltd., AbbVie Inc., Cumberland Pharmaceuticals Inc., Johnson & Johnson Private Limited, and Bristol-Myers Squibb Company, among other domestic and global players.
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