At 5.0% CAGR, Europe Antibiotics & Antimycotics Market is Projected to be Worth US$ 19,865.50 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Europe antibiotics & antimycotics market was valued at US$ 13,478.00 million in 2023 and is expected to reach US$ 19,865.50 million by 2031, registering a CAGR of 5.0% from 2023 to 2031. Growing awareness about fungal infections and ongoing funding and research & development initiatives are among the critical factors attributed to the Europe antibiotics & antimycotics market expansion.

The growing awareness of fungal infections and their significant health impacts, coupled with initiatives by government and private organizations, is a crucial factor contributing to the antibiotics and antimycotics market growth. The global burden of invasive fungal infections (IFIs) is attributed to their high morbidity and mortality rates, particularly among immunocompromised patients, such as those undergoing chemotherapy or living with HIV/AIDS. According to the Global Action Fund for Fungal Infections (GAFFI) 2023, more than 300 million people worldwide suffer from serious fungal diseases, resulting in approximately 1.5 million deaths annually-more than the combined deaths from malaria and tuberculosis. Such an upsurge in the prevalence of fungal infections has led to increased efforts in mass education and diagnosis, leading to extensive knowledge among healthcare providers and patients about the importance of timely intervention. Innovations in diagnostic techniques such as molecular testing have further enabled the early diagnosis of fungal pathogens, further driving the demand for effective antifungal treatments.

A 10-year road map for the elimination of fungal illnesses was created by the Global Action Fund for Fungal Infections (GAFFI) in 2015, which also outlines the fundamental conditions required for efficient diagnostic delivery. Similarly, the International Society for Human and Animal Mycology (ISHAM), European Centre for Disease Prevention and Control (ECDC), Mycoses Study Group (MSGERC), Asia Fungal Working Group, Fungal Infection Trust, British Mycology Society, and International Mycological Association are among other associations that make efforts to underline the burden of fungal infections, aiding in the prevention, diagnoses, and treatment of these diseases. Every year, September 16-20 is observed as the Fungal Disease Awareness Week (FDAW) to raise awareness of the growing prevalence of fungal illnesses around the world and the need for appropriate action. Such efforts made to bolster the understanding of fungal diseases result in a surge in diagnoses and the number of patients requiring care, which encourages research aimed at developing new and effective antimycotics.

On the contrary, antimicrobial resistance, financial barriers, and extensive regulatory processes hamper the growth of Europe antibiotics & antimycotics market.

Based on drug class, the Europe antibiotics & antimycotics market is segmented into penicillin, cephalosporines, carbapenems, macrolides, aminoglycosides, quinolones, sulfonamides, tetracyclines, azoles, and others. The penicillin segment held 60.8% share of the Europe antibiotics & antimycotics market in 2023, amassing US$ 8,193.75 million. It is projected to garner US$ 12,150.46 million by 2031 to expand at 5.0% CAGR during 2023-2031.

Based on indication, the Europe antibiotics & antimycotics market is segmented into skin infections, respiratory infections, urinary tract infections (UTI), septicemia, ear infections, gastrointestinal infections, and others. The respiratory infections segment held 35.5% share of the Europe antibiotics & antimycotics market in 2023, amassing US$ 4,782.66 million. It is projected to garner US$ 7,215.17 million by 2031 to expand at 5.3% CAGR during 2023-2031.

Based on route of administration, the Europe antibiotics & antimycotics market is segmented into oral, topical, and others. The oral segment held 53.8% share of the Europe antibiotics & antimycotics market in 2023, amassing US$ 7,257.12 million. It is projected to garner US$ 10,417.18 million by 2031 to expand at 4.6% CAGR during 2023-2031.

Based on distribution channel, the Europe antibiotics & antimycotics market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held 54.1% share of the Europe antibiotics & antimycotics market in 2023, amassing US$ 7,348.76 million. It is projected to garner US$ 10,672.18 million by 2031 to expand at 4.8% CAGR during 2023-2031.

Based on country, the Europe antibiotics & antimycotics market is segmented into Germany, France, Spain, Italy, the UK, and the Rest of Europe. Germany held 27.3% share of Europe antibiotics & antimycotics market in 2023, amassing US$ 3,672.75 million. It is projected to garner US$ 5,445.13 million by 2031 to expand at 5.0% CAGR during 2023-2031.

Key players operating in the antibiotics & antimycotics market are Pfizer Inc, Novartis AG, Sanofi SA, F. Hoffmann-La Roche Ltd, Merck & Co Inc, GSK Plc, Johnson & Johnson, Cipla Ltd, Bayer AG, AbbVie Inc, and Astellas Pharma Inc, among others.

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