According to a report by GlobalData, the infectious disease market is projected to grow actively from 2023 to 2029 and sales are predicted to reach $150 billion by 2029. It is expected that Pfizer, Gilead Sciences, and GlaxoSmithKline (GSK) will be the major players in the market.
What You Need to Know:
- The infectious disease market is forecasted to grow at a rate of 5.7% annually between 2023 and 2029, despite a 63.8% decrease in COVID-19 vaccine sales in 2022.
- Pfizer, Gilead Sciences, and GSK are expected to dominate the market, collectively generating 62% of total infectious disease drug sales in the stated period.
- High sales of COVID-19 therapeutics and increased demand for HIV drugs partly offset the decline in vaccine sales.
- Pfizer is expected to stay the market leader despite a predicted 9.2% decline in sales from 2023-2029 due to the robust performance of its COVID-19 products, Comirnaty and Paxlovid.
- Gilead’s sales growth from 2023-2029 is forecasted to be 12.4%, driven by its HIV drug, Biktarvy.
- GSK is set to see growth from its shingles vaccine, Shingrix, and HIV drug, Dovato.
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[Source: Fierce Pharma, July 20th, 2023]