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Antimicrobial Additives Market Share, Growth and Demand Forecast to 2030
According to the forecast of the market research company, P&S Intelligence, the market would exhibit a CAGR of 7.5% between 2020 and 2030 and reach a value of $3,786.8 million by 2030.
By: P&S Intelligence
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.
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 (https://www.psmarketresearch.com/
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, P&S 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.
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.