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Global Antimicrobial Additives Market Set to Reach Over $3,000.0 Million Valuation by 2030

Antimicrobial Additives Market

In 2019, the global antimicrobial additives market attained a valuation of $2,010.2 million. 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. Several technological and economic factors such as the boom of the healthcare industry and the incorporation of advanced technologies in healthcare product manufacturing are fueling the growth of the market.

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Besides the aforementioned factors, the rising bio-resistance in patients, because of the excessive usage of antibiotic medicines, is also propelling the expansion of the antimicrobial additives market. The extensive administration of antibiotics in people for treating and reducing the risk of bacterial and fungal infections has massively contributed to the emergence of highly-resistant and stronger pathogens. Furthermore, the usage of disinfection chemicals augments the problem as these chemicals do not provide long-lasting protection and cause irregular activity.

Because of the above-mentioned reasons, antimicrobial drugs are increasingly being integrated during the production of products that can overcome the high-resistance of pathogens. In addition to this, the rapid growth of the healthcare industry over the last few years, especially in the developing nations because of the high incidence of chronic diseases and the surge in the geriatric population, is also boosting the demand for antimicrobial additives across the world.

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Furthermore, the growing popularity of novel drugs in various medical treatment procedures is driving the global sales of antimicrobial additives. Depending on type, the antimicrobial additives market is bifurcated into organic and inorganic. Between the two, the inorganic bifurcation registered higher growth in the market in the years gone by. This was because of the greater non-toxic and other favorable chemical characteristics of copper-, silver-, and zinc-based antimicrobial formulations in comparison to their organic counterparts.

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