According to The Insight Partners’ research, the global Antibiotics Market was valued at US$ 43,348.38 million in 2019 and is projected to be worth US$ 56,351.33 million by 2027, growing at a 3.6% CAGR during 2019–2027. Rising bacterial infections and increasing development of generic drugs are the key factors for market expansion.
Generic versions are introduced in the market to offer cost-efficient drugs and increase the reach of these drugs to people of different economic classes. Generic versions are popular due to their availability and affordability. For instance, according to a study published on the NCBI in 2018, the average brand name prescription price was almost 4-times the average generic price. The companies are also focusing on developing generic versions to offer antibiotics at minimal costs. For instance, in June 2018, Lupin launched a generic Tobramycin inhalation solution in the US market. Further, encouragement from government authorities is also projected to drive the production of generic antibiotics, which would eventually drive the growth of the antibiotics market during the forecast period.
Get Sample Copy of Report PDF: https://www.theinsightpartners.com/sample/TIPRE00003406/
The prevalence of infectious diseases, especially caused by bacteria, is increasing worldwide. According to a study published by the American Society for Microbiology (ASM) in 2019, 1.5–4.5 million infections are caused by the Carbapenem-resistant bacterial strains belonging to the Enterobacteriaceae group every year worldwide. According to estimates from the World Health Organization (WHO), ~33 million deaths are reported yearly due to campylobacteriosis. Such exponentially increasing prevalence of bacterial infections is expected to continue to drive the growth of the antibiotics market during the analysis timeframe.
On the other hand, the tedious and expensive process of antibiotic development will likely hinder market growth.
Based on action mechanism, the market is categorized as mycolic acid inhibitors, RNA synthesis inhibitors, DNA synthesis inhibitors, protein synthesis inhibitors, and cell wall synthesis inhibitors. Among these, the cell wall synthesis inhibitors segment held 46.96% of the market share in 2019. The segment was valued at US$ 20,354.54 million in 2019 and is slated to expand at a 3.3% CAGR during 2019–2027 to reach US$ 25,938.52 million by 2027.
As per drug class, the global antibiotics market is split into sulfonamides, aminoglycosides, carbapenem, macrolides, fluoroquinolones, penicillin, cephalosporin, and others. The cephalosporin segment accounted for 20.96% of the market share in 2019. The segment was gauged at US$ 9,087.47 million in 2019 and is projected to grow at a 3.1% CAGR between 2019 and 2027 to reach US$ 11,390.84 million by 2027.
Our regional analysis states that North America held a significant share in the global antibiotics market in 2019. The regional market was evaluated at US$ 13,527.79 million in 2019 and is anticipated to be worth US$ 18,004.25 million by 2027. The Asia Pacific region is expected to account for the fastest growth with a CAGR of 4.2% during the forecast period. This growth is attributed to the vast number of initiatives and investments made by the region’s major companies. For instance, in 2017, Pfizer launched a new antibiotic— Zavicefta—for multidrug-resistant (MDR) infections in the UK and Germany.
Leading players contributing to the global antibiotics market valuation are Pfizer, Inc.; Johnson & Johnson Services, Inc. (Janssen Pharmaceuticals); Abbott; GlaxoSmithKine Plc; Sanofi; Novartis AG; Bayer AG; Bristol Myers Squibb Company; Eli Lilly and Company; and Astellas Pharma .
Browse More Information: https://www.theinsightpartners.com/reports/antibiotics-market
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
