The global anti-infective agents market is expected to grow substantially through 2024, according to a Grand View Research report.
Here are eight takeaways:
1. By 2024, the market is expected to hit $111.4 billion.
2. The growing awareness of infectious diseases' prevalence is spurring market growth.
3. Societal changes in response to the high prevalence of infectious diseases are also contributing to market growth.
4. In 2015, the antibacterial segment had a 54 percent market share because of high prescription rates, more accessibility of antibacterials due to their over-the-counter status and providers preferring antibacterials to fight infections.
5. The anti-viral segment is projected to grow at a compound annual growth rate surpassing 3.5 percent to 2024 due to anti-viral drugs' high prices.
6. In 2015, North America had revenue exceeding $25 billion in the market due to a high prevalence of infectious diseases.
7. However, Asia Pacific is expected to experience rapid growth due to the unmet market demand for novel drugs, huge improvements in healthcare infrastructure and more awareness amongst healthcare providers and patients about infectious diseases.
8. Market players include Abbott Laboratories, Gilead Sciences, Bristol-Myers Squibb, Merck, Bayer Healthcare, AstraZeneca, Boehringer Ingelheim and Novartis.
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