Global Vancomycin Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

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Overview and Scope

The vancomycin market consists of sales of intravenous (IV) formulations, compounded products, diagnostic kits and monitoring devices, therapeutic drug monitoring (TDM) kits, and diagnostic devices. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Sizing and Forecast

The vancomycin market size has grown rapidly in recent years. It will grow from $0.74 billion in 2023 to $0.82 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to rising detection and prevention of infectious diseases, rise in government-funded programs for disease surveillance, increasing global travel and trade, growing use in hospital settings, and increased healthcare spending.

The vancomycin market size is expected to see rapid growth in the next few years. It will grow to $1.26 billion in 2028 at a compound annual growth rate (CAGR) of 11.3%. The growth in the forecast period can be attributed to the increasing emergence of novel pathogens, increasing demand for rapid and on-site testing solutions, growing emphasis on early detection systems, rising demand for vancomycin, and increased R&D activities. Major trends in the forecast period include miniaturization and portability of diagnostic devices, adoption of multiplex assays capable of detecting multiple pathogens simultaneously, integration of digital health solutions, adoption of next-generation sequencing (NGS) technologies in infectious disease diagnostics, advancements in biosensor technologies and integration of AI and machine learning algorithms into diagnostic platforms.

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Segmentation & Regional Insights

The vancomycin market covered in this report is segmented –

1) By Type: Injectable Solution, Powder For Injection
2) By Route Of Administration: Intravenous, Oral
3) By Application: Sepsis, Lung Infection, Skin Soft Tissue Infection, Colitis And Intestinal Inflammation, To Prevent Infection

North America was the largest region in the vancomycin market in 2023. The regions covered in the vancomycin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The rising prevalence of infectious diseases is expected to propel the growth of the vancomycin market going forward. Infectious diseases are illnesses caused by pathogenic microorganisms such as bacteria, viruses, fungi, or parasites, encompassing conditions such as influenza, tuberculosis, malaria, HIV/AIDS, and COVID-19. The increasing prevalence of infectious diseases can be attributed to factors such as antimicrobial resistance, climate change, and population growth. Vancomycin is essential for treating severe gram-positive bacterial infections, especially resistant strains, guided by clinical guidelines and antimicrobial stewardship for optimal patient outcomes. For instance, in July 2023, according to the Joint United Nations Programme on HIV/AIDS (UNAIDS), a Switzerland-based United Nations program dedicated to addressing the global HIV/AIDS epidemic, the number of people with HIV (human immunodeficiency virus) currently exceeded 39 million globally in 2023, up 3.17% from 37.7 million in 2020. Furthermore, in March 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, tuberculosis (TB) cases in the US increased by 5.9% from 7,874 cases in 2021 to 8,331 cases in 2022. Therefore, the rising prevalence of infectious diseases is driving the growth of the vancomycin market.

Key Industry Players

Major companies operating in the vancomycin market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Siemens Healthineers AG, Becton Dickinson And Company, Quest Diagnostics Incorporated, Hologic Inc., bioMérieux SA, Sysmex Corporation, Bio-Rad Laboratories Inc., QIAGEN N.V., Ortho Clinical Diagnostics Pvt. Ltd., DiaSorin SpA, Myriad Genetics Inc., Seegene Inc., ANI Pharmaceuticals Inc., Alvogen Inc., Biodesix Inc., Helix OpCo LLC, Inovio Pharmaceuticals Inc.

The vancomycin market report table of contents includes:

1. Executive Summary
2. Vancomycin Market Characteristics
3. Vancomycin Market Trends And Strategies
4. Vancomycin Market – Macro Economic Scenario
5. Global Vancomycin Market Size and Growth
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32. Global Vancomycin Market Competitive Benchmarking
33. Global Vancomycin Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Vancomycin Market
35. Vancomycin Market Future Outlook and Potential Analysis
36. Appendix