Multidrug Resistant Bacteria Market Poised for Strong Growth, Fueled by Advancements and Investments As Per The Business Research Company’s Multidrug Resistant Bacteria Global Market Report 2024
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LONDON, Feb. 15, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Multidrug Resistant Bacteria Global Market Report 2024, the multidrug resistant bacteria market has witnessed robust growth in recent years, with projections indicating continued expansion in the coming years. The multidrug resistant bacteria market is set to grow from $11.86 billion in 2023 to $12.61 billion in 2024, at a compound annual growth rate (CAGR) of 6.4%. This multidrug resistant bacteria market growth is primarily attributed to the antibiotic resistance crisis, advancements in drug discovery, regulatory incentives, and public health initiatives that have bolstered awareness and investments in combating multidrug-resistant bacteria.
Anticipated Growth and Market Dynamics
In the forecast period, the multidrug resistant bacteria market is expected to experience significant growth, reaching $16.22 billion by 2028, at a CAGR of 6.5%. Key drivers of this multidrug resistant bacteria market growth include antibiotic stewardship programs, the global spread of resistance, the emergence of phage therapy and alternative treatments, as well as substantial public and private investment in research and development. Additionally, major trends such as precision medicine for infectious diseases, combination therapies, continuous surveillance and monitoring, and global collaboration are expected to shape the industry landscape.
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Challenges and Hindrances to Growth
However, the multidrug resistant bacteria market faces challenges stemming from the complexity of infections caused by multidrug-resistant bacteria. These infections can be more severe and difficult to treat compared to those caused by susceptible bacteria, leading to prolonged hospital stays, increased healthcare costs, and poorer patient outcomes. Reports suggest that by 2050, antimicrobial resistance may account for up to 10 million deaths annually, underscoring the urgent need for innovative solutions in combating multidrug-resistant bacteria.
Key Players and Market Expansion
Major players in the multidrug resistant bacteria market, including Pfizer Inc., Johnson & Johnson Private Limited, and F. Hoffmann-La Roche Ltd., are at the forefront of research and development efforts to address this pressing global health challenge. Notably, in July 2022, Innoviva Inc. acquired Entasis Therapeutics Inc., expanding its portfolio to include potential first- and best-in-class medications for treating multidrug-resistant gram-negative bacteria.
Regional Landscape and Market Segmentation
North America emerged as the largest region in the multidrug-resistant bacteria market in 2023, with significant contributions from Asia-Pacific, Western and Eastern Europe, South America, and the Middle East and Africa. The multidrug resistant bacteria market segmentation includes various diseases such as urinary tract infections, intra-abdominal infections, blood stream infections, and more, along with diverse drug classes, routes of administration, and end-users.
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In conclusion, the Multidrug Resistant Bacteria Market Report offers invaluable insights for industry players to navigate the evolving landscape. By leveraging the comprehensive analysis provided in the multidrug resistant bacteria market report, businesses can identify growth opportunities, develop strategic initiatives, and contribute to the global efforts in combating multidrug-resistant bacteria.
Multidrug Resistant Bacteria Global Market Report 2024 by The Business Research Company provides insights on the Multidrug Resistant Bacteria market size, Multidrug Resistant Bacteria market segments, Multidrug Resistant Bacteria market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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