Infectious Disease Therapeutics Market to hit big due to Rising Clinical Trials for the Development of New Drugs
Infectious diseases are caused by various pathogenic organisms like parasites, viruses, and bacteria. Such diseases are transmitted from one individual to another via direct or indirect contact. Anti-infective drugs slow or stop the growth of pathogenic microorganisms in the human body. This drug works according to a mechanism of the host defensive system in which the drug directly targets the causative agent. Different infectious diseases like influenza, hepatitis A, malaria, HIV, and hepatitis C cause millions of deaths across the world. These diseases are caused due to inadequate personal hygiene or poor sanitation. Anti-infective drugs prevent the growth of causing agents. Some of the anti-infective drugs that are used for the treatment of infectious diseases are antiviral, anti-parasitic, antifungal, and antibacterial drugs.
Global Infectious Disease Therapeutics Market: Growth Factors
One of the major factors driving the growth of the global infectious disease therapeutics market is the growing prevalence of infectious diseases along with surging initiatives for creating awareness regarding the diagnosis and treatment of such conditions so that an early treatment can be given to the patients. The rising clinical trials for the development of new drugs are likely to positively shape the trajectory of the global infectious disease therapeutics market during the forecast period. Moreover, the market is expected to see the patent expiry of many available drugs. The expiry of patents leads to the reduction in the price of these drugs as they now became generic drugs instead of branded drugs. Physicians prescribe these cost-effective drugs to the patients so that all classes of people are able to afford such medicines. Positive reimbursement policies that cover the treatments and diagnosis of infectious disease are anticipated to bolster the growth of the market significantly during the forecast period.
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Global Infectious Disease Therapeutics Market: Segmentation
The global infectious disease therapeutics market can be segmented into disease, treatment, end-user, and region.
By disease, the market can be segmented into hepatitis, malaria, TB, influenza, HIV, and others. The HIV segment accounts for the largest share in the global infectious disease therapeutics market owing to the rising prevalence of HIV coupled with growing investments to develop effective drugs to treat it.
By treatment, the market can be segmented into anti-parasitic drugs, antiviral drugs, antifungal drugs, antibacterial drugs, and others. The antibacterial drug segment holds the largest share in the global infectious disease therapeutics market.
By end-user, the market can be segmented into hospitals & clinics, retail pharmacies, research organizations, and others.
Global Infectious Disease Therapeutics Market: Regional analysis
North America accounts for the largest share in the global infectious disease therapeutics market due to the growing number of favorable reimbursement policies coupled with the increasing prevalence of the infectious disease in the region. Moreover, the presence of prominent market players in the region and the rising number of clinical trials to develop new & effective drugs further propels the growth of the regional market. The increasing funding to boost the research and development for the development of new drugs is likely to bolster the growth of the regional market during the forecast period.
Asia Pacific is expected to grow significantly during the forecast period owing to the high prevalence of infectious diseases like tuberculosis, malaria, HIV, and others. The growing expense on the treatment and diagnosis of infectious diseases is further expected to boost the growth of the regional market. The growing attention of the government in developing countries for the prevention of infectious diseases by raising funds to develop more effective drugs for the treatment of these diseases is likely to propel the growth of the regional market during the forecast period.
Global Infectious Disease Therapeutics Market: Competitive Players
Some of the significant players in the global infectious disease therapeutics market are Boehringer Ingelheim GmbH, Merck & Co., Inc., BioCryst Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Janssen Pharmaceutical, Inc., GlaxoSmithKline plc, Gilead, Novartis AG, Sanofi, Pfizer Inc., and AstraZeneca.
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