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Boosting Infection Control: The Contribution of Biotech Firms in Developing Cutting-edge Therapeutics

The global hospital infection therapeutics market is witnessing a wave of expansion, spurred on by significant investments in research and development from pharmaceutical and biotechnology companies. In 2022, the estimated market value stood at US$ 11.3 billion, with predictions of a compound annual growth rate (CAGR) of 2.6% from 2023 to 2031. This projected expansion should see the market reach a worth of US$ 14.4 billion by 2031.

Several prominent corporations partake in this domain, including Merck & Co. Inc., Pfizer Inc., GlaxoSmithKline plc, AstraZeneca, Johnson & Johnson Services Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Allergan plc, Sanofi S.A., Gilead Sciences Inc., Basilea Pharmaceutica Ltd., and Bristol-Myers Squibb Company.

Major boosts to the market include the rise in hospital-acquired infections globally, antibiotic resistance driving the need for innovative therapeutics, and the increasing adoption of infection control measures due to heightened awareness. Improvements in healthcare facilities, particularly in developing regions, are influencing better infection control practices, encouraging the use of therapeutic solutions. The integration of data analytics and artificial intelligence (AI) is also escalating surveillance, prediction, and response, which results in more effective therapeutic interventions.

Several regions are fueling the market growth. North America, for instance, is characterized by a strong regulatory framework which ensures high standards of infection prevention, control, and robust health spending. On the other hand, Asia Pacific, riddled with a high incidence of infectious diseases, and a large population, necessitates the urgency for effective infection therapeutics.

In a noteworthy development, Hikma Pharmaceuticals PLC introduced Cefazolin for Injection, USP, now available in the United States. Aimed at treating specific bacterial infections, the drug is available in 2g and 3g doses. The hospital infection therapeutics market is segmented into different categories based on therapeutics (anti-bacterial drugs, anti-fungal drugs, anti-viral drugs, others), type of infection (hospital-acquired pneumonia, urinary tract infections, gastrointestinal disorders, bloodstream infections, surgical site infections, other hospital infections), and region.

Source: https://finance.yahoo.com/news/hospital-infection-therapeutics-market-worth-120000924.html

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