Huge Demand For Anti-Viral And Antibiotic Drugs Due To COVID-19 Contributes To Overall Anti-Infective Drugs Market
22 Jun, 2020
The global anti-infective drugs market is expected to grow from $106.5 billion in 2019 to $139.3 billion in 2020 at a compound annual growth rate (CAGR) of 30.8%. This significant growth is mainly due to the coronavirus outbreak and the huge demand for anti-viral and antibiotic drugs. Although other anti-infective drugs like antifungals have seen a dip in sales, the enormous demand for antiviral drugs and antibiotic drugs such as Azithromycin, Chloroquine, Acyclovir, and Ribavirin among others have contributed to the overall market growth of anti-infective drugs. The global anti-infective drugs’ industry size is then expected to recover and grow at a CAGR of 6% from 2021 and reach $159.6 billion in 2023.
The anti-infective drugs market consists of sales of anti-infective drugs and related services by entities (organizations, sole traders and partnerships) that produce anti-infective drugs to treat microbial infections. This industry includes establishments that produce antibiotics to treat bacterial infections, anti-viral drugs to treat viral infections, anti-fungal drugs to treat fungal infections, anti- helminthic drugs to kill internal parasites, and antiprotozoal agents.
The anti-infective drugs market is segmented by type into antibiotics, antivirals, antifungals, and others (anthelminthic, antiprotozoal). By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies/ drug stores, and others. By route of administration, the market is segmented into oral, parenteral, and others. By drug classification, it is segmented into branded drugs, and generic drugs. By mode of purchase, it is segmented into prescription-based drugs, and over-the-counter drugs.
Key players in the global anti-infective drugs market include Gilead, Merck & Co, GlaxosmithKline, Bristol-Myers Squibb Company, and Johnson & Johnson. Companies in this market are active with multiple strategic collaborations and agreements. Top companies in the anti-infective drug market are strategically partnering and collaborating with other companies to broaden their products and services. For instance, in May 2015, Janssen Pharmaceuticals Inc., a subsidiary of Johnson & Johnson, entered into an exclusive worldwide license and collaboration arrangement with Achillion Pharmaceuticals Inc. to develop and commercialize one or more of Achillion`s lead hepatitis C virus (HCV) assets, which include ACH-3102, ACH-3422 and sovaprevir. Similarly, in December 2017, Evotec AG was in a strategic alliance with Forge Therapeutics Inc. to advance its novel Gram-negative antibiotic programme targeting `LpxC` for the treatment of bacterial infections. Chimerix and ContraVir Pharmaceuticals also entered into a strategic collaboration for antiviral drug candidate CMX157.