Infectious Diseases – A worldwide phenomenon
Infectious diseases such as smallpox, measles, polio and more recently the human papillomavirus virus (HPV) and other pneumococcal infections are playing havoc by causing death and rising health costs. Virus, bacteria, fungi and parasites cause infectious diseases. Globally, infectious diseases account for 51% of years of life lost and in developed economies infectious diseases account for only 8% of years of life lost whereas it is 68% in developing or low-income economies. Infectious diseases can be passed from person to person and some are transmitted by bites from insects or animals and others acquired by ingested contaminated food or water or being exposed to organisms in the environment.
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Global Infectious Diseases Therapeutics Market – Witnessing a lucrative growth
Infectious diseases are being controlled and eradicated to some extent by drugs and vaccines thereby saving countless lives around the globe. Vaccines are not only preventing infectious diseases but also helping the human body in driving out the diseases by enhancing the immunity levels of the human body.
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As of now, the global Infectious Diseases Therapeutics Market consists of therapeutic vaccines of an over 470 products with the infectious disease therapeutic market estimated to grow at a CAGR of 7.9% to reach $18,156 million by 2019. The global infectious diseases therapeutics market as per Infectious Diseases Market Research Reports have reached the US $108.4 billion in 2015 and is expected to reach the US $183.2 billion by 2021.
In recent times, there has been an increase in the usage of drugs and vaccines because of the rising incidences of infectious diseases. Anti-infective drugs are used to kill or stop the growth of these infectious organisms/diseases. The resistance towards current drugs and viral breakthroughs across the globe remains the key obstacles to effective treatment of infectious diseases.
Market Trends of Infectious Diseases – An overview
The global infectious diseases therapeutics has seen a shifting healthcare trend towards more precise, safer and effective diagnosis and advances in molecular biology, which is creating lucrative growth opportunities for the future generation. The market for global infectious disease testing was valued at US $17 billion in 2015 that is expected to reach the US $31.8 billion by 2022 with a CAGR of 8.4% for the forecast period from 2016 to 2022.
These infectious diseases increasingly threaten public health thereby contributing to the rising costs of health care.
In the developed economies the Infectious Diseases Therapeutics Market are seeing a trend wherein companies operating in the disease diagnostic technologies are focusing on the development of novel diagnostic solutions that is enabling the growth of the infectious diseases therapeutics market. Another trend that is going to change the market dynamics of Global Infectious Diseases Therapeutics Market is favorable funding for Research and Development, increasing investment by companies and rise in the prevalence of chronic diseases.
Market segmentation of Global Infectious Disease Treatment/Therapeutic Market
The global infectious disease treatment market is categorized based on the mode of treatment, target organism, infection type, distribution channels and geographic segmentation. Under each category, there are further divisions and sub-divisions as shown in the graphical model shown herein below
Based on the mode of treatment – the drugs holds the largest market share of the therapeutic market due to their wide range of applications. The antibacterial category occupies the highest share under the Target Organism segment, as diseases pertaining to bacterial infections are more common in developing economies. Geographically, the North American market has the largest size followed by Europe. Asia-Pacific region can be said to be the new battleground for fighting infectious diseases with both respective governments and private sectors in these Asia-Pacific region economies providing access to funds for conducting research and development for innovative drugs for fighting infectious diseases. In addition, the Asia-Pacific region is expected to show the highest CAGR in the years to come. The major key players or companies present in the Infectious Diseases Therapeutics Market with their new product (vaccines, drugs) launches and innovations include
• Agenus Inc
• Bristol-Myers Squibb,
• Eli Lilly
• Mitsubishi Tanabe
These players are major influencers influencing the market dynamics of the global Infectious Disease Treatment Market through their research and product innovations.