New Drug Application for Doxycycline Hyclate was approved by the US Food & Drug Administration (USFDA)
In January 2022, Alembic Pharmaceuticals Limited reported that the US Food & Drug Administration (USFDA) had given its final approval to the company's Abbreviated New Drug Application (ANDA) for Doxycycline Hyclate Delayed-Release Tablets USP, 75 mg, 100 mg, 150 mg, & 200 mg. These tablets are only used to treat or prevent infections that are strongly suspected to be brought on by susceptible bacteria. The company's product line expands as a result of this.
Invreasing Product Launch to Boost Market Growth
Healthcare systems in wealthy nations favour anthrax treatments that are highly advanced, have fewer risk considerations and use cutting-edge technology. Major market participants are therefore very focused on product introductions. Growing product introductions provide patients more cutting-edge and highly effective medical treatment options. Introducing new products draws attention to the business and establishes its position in the international market. The product launch's primary positive effect is accelerating the company's business expansion. As opposed to this, the company's revenue stream is created when new products are introduced, which can last for many years.
High Cost Treatment Procedure for Anthrax to Limit Market Expansion
A variety of expensive, highly specialized tests are required to identify the bacteria in silent illnesses. The high cost of anthrax diagnosis is anticipated to impede market expansion. Due to the prohibitive expense of identification therapies, it is difficult for doctors and patients to find an excellent and practical answer. The high cost of the treatment procedures consequently has a negative effect on the cost of the total treatment. As a result, it will limit the demand for therapy in low- and middle-income nations in the future. This implies that the growth of the worldwide anthrax treatment market is anticipated to be constrained by expensive treatments.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the anthrax treatment market plan acquisitions to improve their brand recognition globally. For instance, in April 2022, Elusys Therapeutics, Inc., a biodefense firm in the commercial stage and the creator of ANTHIM (obiltoxaximab), a medication for inhalation of anthrax, was acquired by NightHawk Biosciences.
- In January 2022, Elusys Therapeutics finalised a contract with the US Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response (ASPR) for the continuing supply of the anthrax antitoxin ANTHIM (obiltoxaximab) for use in the event of a possible anthrax assault.
- Almirall, LLC
- Nighthawk Biosciences, Inc. (Elusys Therapeutics Inc.)
- Paratek Pharmaceuticals, Inc.
- Pfizer Inc.
- Bayer AG
- GSK plc
- Teva Pharmaceutical Industries Ltd.
- The market in North America is expected to gain a huge portion of the global anthrax treatment market share in the coming years because developing countries are advancing their technology more and more.
- The expansion is also a result of significant government funding, motivating strategies, and the presence of significant companies in this industry.
- In the Asia Pacific, the growth in this region is primarily driven by components, including programs launched by organizations like the CDC that support the search for novel anthrax medications.
|Market Size in 2022
|USD 315.5 Million
|Market Forecast in 2030
|USD 5234. Million
|Compound Annual Growth Rate
|Revenue (USD Million) and Volume (Kilo Tons)
|By Anthrax Type, By Drug Class, By Distribution Channel and By Geography
|By Anthrax Type
|By Drug Class
|By Distribution Channel