New York, USA, June 15, 2022 (GLOBE NEWSWIRE) — According to a report by Research Dive, the global antibiotic market is planned to obtain a revenue of $58,798.1 million by 2027 and growing at a CAGR of 4.0% during the estimated period from 2020 to 2027.
With the rising prevalence of infectious diseases, such as tuberculosis, malaria, pneumonia, HIV/AIDS, and many others all over the world, the antibiotics market is expected to witness an alarming growth over the estimated period. Additionally, increasing investments in R&D activities by biotech companies and massive adoption of generic drugs are further expected to bolster the market growth over the analysis period. Additionally, the growing new product innovations for the treatment of serious bacterial infections are expected to bolster the market growth over the forecast period. However, high initial investment and uncertain government regulatory policies may hamper market growth throughout the analysis period.
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Antibiotics Market Segments
The report has divided the market into segments based on drug class, spectrum, and region.
Drug class: the fluoroquinolones sub-segment will be the most productive
The fluoroquinolones sub-segment is expected to generate revenue of $10,143.1 million during the forecast period. This is mainly because fluoroquinolones are extremely effective antibiotics with many beneficial pharmacokinetic properties. Additionally, increasing new product innovations and their government approvals are expected to propel the growth of the market sub-segment over the analysis period.
Spectrum: The broad-spectrum antibiotics sub-segment will be the most lucrative
The broad-spectrum antibiotics sub-segment is expected to generate revenue of $52,366.7 million and grow at a CAGR of 4.2% during the estimated period. This is mainly due to the increase in healthcare expenditure in developing economies and the increasing development of innovative antibiotics. Moreover, growing strategic investments from the startup as well as established companies are expected to fuel the growth of the antibiotics market sub-segment over the forecast period.
Region: Asia-Pacific will hold the largest market share
The Asia-Pacific region of Antibiotics Market is expected to generate revenue of $19,932.6 million over the analysis period. Growing supportive government strategies and innovative initiatives for the development of antibiotics in this region are expected to drive the regional growth of the market over the forecast period.
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Impact of Covid-19 on the Antibiotics Market
Although the outbreak of the Covid-19 pandemic has devastated several industries, yet it has had a positive impact on the growth of the antibiotics market. This is mainly due to the increased consumption of antibiotics to avoid prolonged illness and longer hospital stays during the pandemic period. Additionally, the increase in the prescription of antibiotics by dentists has boosted the market growth during the crisis period.
Antibiotics Market Key Players
Major market players include
- GlaxoSmithKline plc
- Bristol-Myers Squibb Company
- Bayer AG
- Janssen Global Services
- Novartis AG
- Eli Lily
- Merck KGaA
- Astellas Pharma Inc.
These players extensively work on developing new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to secure leading positions in the global industry.
For example, in August 2021, Sanofi, a leading French multinational, entered into a definitive agreement with Translate Bio, a clinical-stage mRNA therapeutics company. With this acquisition, the companies aimed to unlock the use and potential of mRNA in developing the best vaccines in other strategic areas such as oncology, immunology and other rare diseases.
Besides, the report also presents other crucial aspects including product portfolio, financial performance of key players, SWOT analysis and latest strategic developments.
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