The large-scale usage of antibiotics for treating and reducing the risks of bacterial and fungal infections has massively increased the possibility that the pathogens would rapidly become stronger and highly resistant to these antibiotics in the near future. Moreover, with the growing usage of disinfection chemicals, the problem is becoming more severe. This is because the disinfection chemicals do not provide long-lasting protection against the pathogens and are likely to cause irregular effects on the body. Because of these reasons, antimicrobial additives are being increasingly integrated in the production processes of these chemicals and drugs.
In addition to the aforementioned factors, the growth of the global healthcare industry is also causing a sharp surge in the requirement for antimicrobial additives around the world. Moreover, the various advantages of the incorporation of antimicrobial additives in pharmaceutical products such as the increased efficacy of the pharmaceutical formulations, reduced bioburden, and lower threat of development or retention of any kind of bio-resistance are bolstering the demand for these materials across the globe.
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The growing incidence of chronic diseases and increasing geriatric population are tremendously pushing up the requirement for pharmaceutical products, which is, in turn, driving the sales of antimicrobial additives around the world. Furthermore, many private and public organizations are making huge investments in the development of antimicrobial additives so that these products can be available for mass consumption throughout the world. Due to these factors, the valuation of the global antimicrobial additives market is predicted to rise from $2,010.2 million to $3,786.8 million from 2019 to 2030, with the market advancing at a CAGR of 7.5% between 2020 and 2030.
Based on end-use industry, the antimicrobial additives market is divided into food and beverages, healthcare, consumer goods, automotive, construction, and packaging categories. Out of these, the healthcare industry registered the highest growth in the market over the last several years, as per the findings of the market research company, PS Intelligence. Further, this category is predicted to continue exhibiting rapid growth in the coming years. This is ascribed to the increasing incidence of hospital-associated infections (HAIs) and nosocomial infections across the world.
Globally, the antimicrobial additives market is predicted to demonstrate lucrative growth in the Asia-Pacific (APAC) region in the upcoming years. This is attributed to the rapid macroeconomic growth, rising spending power of people and swift advancement of the healthcare industry in the region. In addition to this, the expansion of the medical devices, consumer goods, automotive, and packaging industries in the APAC nations will further boost the requirement for antimicrobial additives in the region in the years to come.
Thus, it can be safely said that with the growing adoption of antimicrobial additives in pharmaceutical products, rapid advancement of the healthcare industry, and the increasing requirement for stronger and more effective drugs, the sales of antimicrobial additives will skyrocket all over the world in the upcoming years.
